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Statoil to test the use of CO2 in the Bakken

Statoil has entered into a supply and service agreement with Ferus LP to utilize the Denver-based company’s energized fluids, such as liquid carbon dioxide (CO2) and liquid nitrogen, on its North American oil and gas operations, reports the Oil & Gas Financial Journal. Statoil will use liquid CO2 on a test well to examine the benefits of using the energized ...

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North Dakota governor signs sweeping oil tax law

WILLISTON, N.D. – North Dakota, the second-largest U.S. oil producer, has approved a sweeping reorganization of its oil tax code, cutting the overall rate and ending a tax break of more than $5 billion poised to hit in June. Governor Jack Dalrymple signed the measure on Wednesday afternoon, his staff told Reuters, lowering the combined rate crude producers will pay ...

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Engineering unique power solutions in the oilfields

Amidst the current market climate, fluctuating prices and calls for reduced emissions, oil and gas operators and regulators alike are searching for solutions to increase efficiency, reduce costs and minimize waste. When it comes to operating in isolated regions of the North American oilfields where there is no access to an existing power grid or where fuel shipments to the ...

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Top 5 Bakken stories of the week

Here are the top five stories from Bakken.com for the week of April 18 through April 24. Enjoy! 5. Study: Deferring well completion to pay off Crude storage in the U.S. is at a record high. During the week of March 27, 4.8 million barrels added topped off the current high of 471.4 million barrels, according to a recent report from ...

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Halcon decreases Bakken well costs, increases production

For Halcon Resources Corp, costs in the Bakken have decreased while production increased during the first quarter of 2015 when compared to the previous quarter, The Bakken Magazine reports. After releasing its preliminary results for the first quarter, the company noted that it has been able to haggle lower prices with its service providers. Additionally, the company is continuing to ...

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North Dakota House endorses revamp of state oil taxes

BISMARCK, N.D. — The North Dakota House endorsed a bill Monday that will cut an exemption for oil companies if crude prices continue to slide, in exchange for a lower and permanent flat tax rate. The House voted 57-32 to approve the measure that supporters believe offers predictability in crafting budgets, while opponents say it could cost the state billions ...

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Top 5 Bakken stories of the week

Here are the top five stories from Bakken.com for the week of April 11 through April 17. Enjoy! 5. From the East Coast, Bakken Oil’s outlook not so bad PHILADELPHIA, Pennsylvania — Doom and gloom over production declines, and a rapid decline in oil-field jobs has many people worried in North Dakota, but the outlook sketched in by analysts and energy ...

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Minot rent prices collapse

Rumors continue to abound in the Bakken about how the boom is over and the bust is here. Despite various pipeline projects in the works and approximately 900 wells awaiting completion, economic indicators such as rent prices are suggesting that although the Bakken might not be busted, the economic landscape of the region is beginning to return to normalcy, much ...

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Iran’s tantalizing oil prize: Kemp

Iran

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – Iran contains some of the largest and most attractive petroleum resources in the world, so any easing of sanctions could have a major impact on oil and gas markets in the second half of the decade. Iran’s possible re-emergence as a major exporter would force ...

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N.D. sees second consecutive monthly drop in oil output

North Dakota’s oil production declined in February for the second consecutive month as drilling new wells slackened amid low oil prices. State regulators said Tuesday that February’s output was just short of 1.18 million barrels per day, down 50,435 daily barrels since December, which was the state’s all-time high. It was the first consecutive two-month drop since January 2011. The ...

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