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Federal fracking rule to cost ND income, jobs

If new federal hydraulic fracturing regulations go into effect later this month, North Dakota could potentially lose 1,900 jobs and $300 million annually in oil income, reports the Forum News Service (FNS). The federal rules set to take effect June 24 include new standards for constructing wells and for disclosing the chemicals used during the hydraulic fracturing process. A preliminary ...

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ND officials: Oil trigger tax break appears unlikely

BISMARCK, N.D. — Unless oil prices take a sudden nosedive, North Dakota’s petroleum industry won’t start reaping the benefits of a tax cut that would decrease state tax collections by about $80 million a month through November. State Tax commissioner Ryan Rauschenberger (RAW’-shuhn-bur-gur) and North Dakota Petroleum Council President Ron Ness say the “trigger” tax break for the oil industry ...

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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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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 leaders in Denver, Colorado, at the recent DUG Bakken/Niobrara Conference sponsored by Houston-based Hart Energy, presented a different picture. “Keep Calm and Drill On,” the slogan emblazoned on ...

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Clock keeps ticking toward North Dakota oil tax break

The clock kept ticking in March on a potential $5.3 billion, two-year tax break for North Dakota’s oil industry after a state-calculated average of the month’s crude price fell below $52.59 per barrel. The state waives its 6.5 percent oil extraction tax if the monthly price of benchmark West Texas Intermediate (WTI) crude at the Cushing, Oklahoma, transport hub falls ...

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ND joining Wyoming lawsuit against federal fracking rules

BISMARCK, N.D. — North Dakota plans to join Wyoming in a lawsuit challenging a new federal hydraulic fracturing rule for U.S. government lands. The North Dakota Industrial Commission headed by Gov. Jack Dalrymple voted Tuesday to intervene in the lawsuit that Wyoming filed last week in federal court. The Obama administration is requiring companies that drill on federal lands to ...

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