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Global Partners LP announce second quarter results

Global Partners

Short-term challenges, including lower retail gas margins and unfavorable weather conditions in North Dakota that delayed tank and pipeline expansion, led to weaker second-quarter results for the Waltham fuel distributor Global Partners LP. Net income for the second quarter of 2013 was $8.7 million, or $0.29 per diluted limited partner unit, compared with net income of $18.5 million, or $0.66 ...

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An in-depth look at the current Bakken Oil Deal

bakken oil deal

Source: Whiting Petroleum Investor Presentation (link opens a PDF) On the surface Whiting Petroleum’s (NYSE: WLL  ) $260 million acquisition of 17,282 net acres in the Bakken looks like nothing more than a small bolt-on acquisition. However, digging a little deeper, the deal is bigger than the numbers indicate. Let’s take a closer look. Setting the stage What investors need to ...

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Q2 2013 results posted by Continental Resources

Continental Resources

Continental Resources, Inc. (NYSE: CLR) (“Continental” or the “Company”) announced second quarter 2013 operating and financial results, reporting net income of $323 million, or $1.75 per diluted share.  Adjusted net income, which excludes items typically excluded from published analyst estimates, totaled $246 million, or $1.33 per diluted share.  The Company achieved record EBITDAX of $708 million, an increase of $87 ...

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Bakken news round-up: Kenmare facelit, Oil rig workers offer gesture, Three Forks discovery

bakken round up

Kenmare to get downtown facelift The Kenmare City council has an $800,000 plan to improve accessibility in its downtown area, including new sidewalks, curb and gutter, lights along the street and in the park in the downtown square. After hearing options from city engineer Ryan Ackerman of Ackerman-Estvold Engineering in Minot, city council members decided on a hybrid project, including ...

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Markets in crude oil continue to change thanks to increase in ND production

crude oil

The differential between West Texas Intermediate (WTI) and North Dakota’s Bakken crudes continues to fluctuate, reflecting both production growth and changes in oil transportation capacity. Bakken crude sold at a $25-per-barrel discount to WTI in early 2012 and rose to a $5-per-barrel premium last September, before again being discounted below WTI this winter. So far this year, the gap between ...

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Oil Shipments receive Safety Inspections via “Operation Classification”

WASHINGTON (AP) — Federal inspection teams have been conducting spot safety checks of rail shipments of crude oil from the booming Bakken oil region in Great Plains states in response to last month’s rail disaster in Canada, U.S. officials said Thursday. The official name of the inspections is “Operation Classification,” although Cynthia Quarterman, head of the Pipeline and Hazardous Materials ...

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ND oil boom, not everyone good with it

Park ranger and rancher John Heiser, who raises cattle near Grassy Butte and works in Theodore Roosevelt National Park’s North Unit, is fed up with the truck traffic and environmental degradation of what he calls ‘the Bakken curse.’ (BARTLEY KIVES / WINNIPEG FREE PRESS) GRASSY BUTTE, N.D. — On the western fringe of North Dakota, not far from the Montana ...

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Peregrine Petroleum Investing in ND Gas and Oil Projects

Peregrine Petroleum

DALLAS and HOUSTON, Aug. 19, 2013 /PRNewswire/ — Texas-based Peregrine Petroleum is continuing the company’s oil and gas exploration and development activities in the Bakken and Three Forks Shale in North Dakota’s Williston Basin region following last year’s acquisition of 3,210 acres of producing leases from Colorado-based Ranch Oil Company. Peregrine recently filed drilling spacing unit applications in the Pierre Creek ...

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Infocast’s 4th Annual Bakken Infrastructure Finance & Development Summit 2013

infocast logo

BISMARCK, ND–(Marketwired – Aug 21, 2013) – Exciting new production techniques have turned the Bakken Shale play into an energy success story, where crude production surged from 274,000 barrels per day in January 2011 to 673,000 in January 2013. Pipelines are full to capacity as they transport Bakken crude to refineries across the country. Crude-by-rail traffic has gone through the ...

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