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Oasis Petroleum profit beats thanks to cost cuts

North Dakota oil producer Oasis Petroleum Inc posted a better-than-expected quarterly profit on Tuesday as it successfully slashed costs to offset plunging crude prices. Bucking the industry trend to hunker down, Oasis also boosted its production forecast for the year and locked in hedges for 2017, steps that signal the Houston-based company’s confidence it can weather the low-price storm. For ...

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New tool from Drillnomics allows oil and gas economic decision in minutes-not days

Compared to the high tech tools found in other industries, software promising to quickly and easily help oil and gas professionals perform economic evaluations has lagged. For years, the industry lacked a modern and simple evaluation tool that was easy to use, affordable and powerful…until now. Drillnomics introduces a broad spectrum of the industry—including mineral buyers, investors, engineers, geologists and ...

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Heitkamp, Hoeven criticize Obama following Keystone request

BISMARCK, N.D. — U.S. Sens. Heidi Heitkamp and John Hoeven are criticizing the Obama administration’s long delay in approving the proposed Keystone XL pipeline after the operator asked the U.S. State Department to pause its review of the project. The remarks from the North Dakota senators came Monday after TransCanada’s announcement. The fate of the Canada-to-Texas pipeline has languished for ...

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Agriculture secretary: Cancel leases on sacred land

HELENA, Mont. — U.S. Agriculture Secretary Thomas Vilsack has recommended the cancellation of long-suspended oil and gas drilling leases near Glacier National Park, federal officials disclosed Monday. The 18 leases are on land considered sacred to the Blackfoot Indian tribes of the United States and Canada. A drilling suspension has been in place since the early 1990s. The owner of ...

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Rand Paul opposes eminent domain for Bakken line

REASNOR — Kentucky Sen. Rand Paul lent his ear and voice Saturday to the plight of farmers balking at the possible use of eminent domain to take their land for the Bakken crude oil pipeline. Paul, who is seeking the Republican nomination for president, visited the Van Gorp 1,400-acre livestock and crop farm here about 10 miles south of Newton. ...

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Audit finds railroad safety lacking during high oil traffic

HELENA, Mont. — Montana’s oversight of railroad safety falls short at a time when volatile crude oil train traffic from the Bakken region, already high, is only expected to increase, a new audit found. Montana has no active rail safety plan and employs only two inspectors to cover the vast state, the Montana Legislative Audit Division report released Wednesday said. ...

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