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Tag Archives: bakken production

Eugene Graner: Did oil top in January? [video]

bakken pumpjacks, oil production

A “winter rally high” in January showed oil at a high around $55 per barrel. Eugene Graner, from Heartland Investor Services, walks us through crude oil prices and what he thinks the market will do next, including a discussion of OPEC and crude oil inventories. Visit Heartland to see this week’s Market Quick Take video. About Heartland Investor Services: Heartland Investor Services ...

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Is it the beginning of the end for the Bakken?

bakken, bakken production

On March 1, 2017, petroleum geologist Art Berman wrote, “It’s the beginning of the end for the Bakken Shale play.” Berman gives several reasons why the Bakken oil fields will never return to its former glory. Here are the highlights: A decline in production that began January 2015. Berman says its “probably not reversible. New well performance has deteriorated. Gas-oil ...

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Will Hess add new Bakken rigs in 2017?

Bakken, Hess

More rigs for the Bakken are in the 2017 Hess plan, according to company president and CEO John Hess, who was speaking about the company’s game plan in their third-quarter earnings call. Hess reported a net loss of $339 million, or $1.12 per common share for the third quarter, which compares to a net loss of $279 million or 98 ...

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Continental Resources plans to complete 29 Bakken wells

energy, 2016, year in review

Continental Resources’ Bakken production averaged nearly 108,000 b/d of oil equivalent in the third quarter of 2016, down 14% or more than 17,000 boe/d from the previous quarter, but the Oklahoma City-based producer plans to boost production in its North Dakota and Montana plays before the end of the year. “We’ve begun harvesting our valuable Bakken inventories,” Harold Hamm, Continental’s ...

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Report shows Bakken production increases for July

pump jack, north dakota oil production

Oilprice.com recently reported Bakken oil production was up 3,046 barrels per day in July, despite an overall down trend. The report shows a preliminary total of 13,255 producing wells and a current (September) rig count of 33. This compares to an all-time high of 218 in May 2012. The rig count continues to slowly increase. Oilprice noted that over 98 ...

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North Dakota sees further declines in oil production ahead as prices hit seven-year low

Image courtesy of Pioneer Natural Resources

North Dakota’s oil price has dropped to a seven-year low, and operators are drilling fewer new wells, portending future declines in production, the state’s Mineral Resources Department reported Wednesday. “We are looking at a lot of belt tightening and we are looking at it to continue through the entire first half of 2016,” Lynn Helms, director of the regulatory agency ...

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Top 5 Bakken stories of the week

Image: Joel Tysver

In case you missed them, here are the top five stories from Bakken.com for the week of October 10th through the 17th. Enjoy! 5. Oil prices strengthen, shrug off Goldman warning: Kemp LONDON – Timespreads for West Texas Intermediate (WTI) and Brent futures have strengthened significantly over the last month as fears about another big build up in crude oil ...

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NDPC year in review – key takeaways

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This week the North Dakota Petroleum Council (NDPC) held its annual meeting in Fargo providing an overview of the state of the Bakken to its growing membership. Topics ranged from a review of the past year’s activity to the most recent legislative session, current technological trends and of course, what’s in store for the future. Although times are tough at ...

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Contractors tapped for Midwest oil pipeline

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CEDAR RAPIDS — Two Wisconsin companies, including Michels Pipeline Construction, which has a field office in Cedar Rapids, have been selected to build portions of the proposed Dakota Access Pipeline. The yet-to-be-approved $3.78 billion, 1,134-mile Dakota Access Pipeline would transport domestically produced light sweet crude oil from the Bakken and Three Forks production areas in North Dakota to Patoka, Ill, ...

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