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Tag Archives: bakken formation

Lower production tax may not increase Bakken activity

Although there are roughly 750 wells drilled and awaiting completion, it’s not likely that North Dakota’s implementation of the lower tax trigger will prompt increased activity in the Bakken. According to a report by The Bismarck Tribune, due to low benchmark prices that persisted through the month of January, the low trigger was put in place as of February 1. ...

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Daily Bakken production over 1.2 million barrels

Last Friday, director of the North Dakota Department of Mineral Resources Lynn Helms expressed his confidence in oil price recovery and avoiding the large tax trigger. According a report by The Bismarck Tribune, the Department of Mineral Resources released state’s preliminary oil and gas production figures for the month of December. The numbers indicate that 1.23 million barrels of oil ...

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Assessing power needs in the Bakken

Despite drilling activity in the Bakken slowing and the rig count at its lowest level in years, Basin Electric Power Cooperative is continuing to assess the region’s growing power needs. According to an article by Electric Co-op Today (ECT), Curt Peterson, manager of media and community relations for Basin Electric Power Cooperative said, “We’re asking our members to reevaluate their ...

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Top 5 Bakken stories of the week

Here are the top five stories from Bakken.com for the week of February 7 through February 14. Enjoy! 5. Oil on wild ride; How will it end? NEW YORK — The price of oil is on a wild ride, and there is little agreement on where it’s headed. After falling nearly 60 percent from a peak last June, the price of ...

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Stacked rigs and their impact on oil prices

Although the dramatic drop in U.S. rig count alleviated the oil price decline, global investment firm Goldman Sachs said it probably won’t lead to a slowdown in production or help with oversupply. According to a report by CNBC, earlier this week the firm stated in a note that “the decline in the U.S. rig count likely remains well short of ...

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Abraxas to focus on the Bakken, increase production

Abraxas Petroleum has announced that it will be increasing oil production in 2015 despite the current low prices, according to The Bakken Magazine. For the upcoming year, the San Antonio-based company will focus entirely on its assets in the Bakken formation and will suspend its drilling operations in the Eagle Ford and Permian Basin formations. The company has approximately 5,000 ...

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Safest mode of transport for oil and gas debated

The more oil and gas that is pulled from the ground by drilling and fracking, the more that will need to be moved from wellheads in North Dakota, Pennsylvania and Ohio to refineries and ports throughout the country. But the best, safest way to transport oil and gas, which can be toxic and explosive, is still being debated. Tanker trucks, ...

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Top 5 Bakken stories of the week

Here are the top five stories from Bakken.com for the week of January 31 through February 6. Enjoy! 5. Retired energy exec: No bust in Bakken The Bakken oil boom is just in a slowdown, not a bust, as oil prices collapse and business stalls, a retired energy industry official said Tuesday in Billings. “We’re in the middle of a revolution ...

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C02 and advanced recovery to be tested in the Bakken

This summer, North Dakota’s Energy and Environmental Research Center (EERC) will test the technique of using carbon dioxide for advanced oil recovery on its first commercial oil well, reports The Bismarck Tribune. The Tribune reports that EERC Director Tom Erickson said the center has been talking with its affiliates to select a well suitable for the testing process. This trial ...

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