Here the top five stories from Bakken.com for the week of May 23rd through May 29th. Enjoy!
5. Cleanup of oil spill at ND farm to take 2 more years
BISMARCK, N.D. — The state Health Department says cleanup of a pipeline rupture that caused more than 20,000 barrels of crude to ooze across a northwestern North Dakota wheat field will take twice as long as the company had expected.
The massive spill from a Tesoro Corp. pipeline that was discovered by a Tioga farmer in September 2013. The spill has been called the worst in state history. To read the full article, click here.
4. Would you believe me if I said oil leasing volume is unchanged?
Don’t take my word for it. Project Manager Silas Martin from Drilling Info recently published an article in Forbes Magazine where he stated that the leaders in permit and completion mapping actually found a bearable leasing reality.
In the crazy downward trend of the past 6 months, Drilling Info examined an array of market information, including things such as rig counts, permits and leasing. According to Martin, in the past six months, rigs have seen a 52.2 percent reduction. In the previous five months, monthly permits decreased by 40.7 percent. All of this would point to the logical assumption that leasing agreements have followed suit. To read the full article, click here.
3. Why many experts missed this: Cheap oil can hurt US economy
WASHINGTON — If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy.
It hasn’t worked out that way.
The economy is thought to have shrunk in the January-March quarter and may barely grow for the first half of 2015 — thanks in part to sharp cuts in energy drilling. And despite their savings at the gas pump, consumers have slowed rather than increased their spending. To read the full article, click here.
2. North Dakota holdout landowner refusing to sell rights for Sandpiper oil pipeline
The calls often came around dinner time. James and Krista Botsford were typically sitting down to eat in their Wausau, Wis., home when someone representing the proposed Sandpiper oil pipeline would ring with offers to buy rights to a swath of the Botsfords’ farmland west of Grand Forks, N.D.
The calls were usually followed by a written offer delivered to their door.
North Dakota Pipeline Co., a joint venture between Enbridge Energy and a subsidiary of Marathon Petroleum Corp., wants to run the proposed $2.6 billion line through the Botsfords’ land to deliver oil from the Bakken to Superior, Wis., where it will be shipped to points east. To read the full article, click here.
1. North Dakota town, sewage companies battle over poop
RAY, N.D. — What’s something you thought you’d never hear someone say they were short of? Sewage. Human waste. Poop.
All the disgusting things that disappear when you flush your toilet.
Rapid population growth in western North Dakota, spurred by a boom in oil and gas production, has prompted many communities there to upgrade their infrastructure. But falling oil prices resulting in a slowdown in oil patch growth is causing a shortage for one city in — yes — feces. To read the full article, click here.