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Repsol announces largest U.S. oil discovery in 30 years

alaskan oil discovery, alaska oil, Repsol

Spanish oil company Repsol announced what it is calling “the largest U.S. onshore discovery in 30 years,” according to a March 9 press release. Repsol, and its partner Armstrong Energy discovered what they believe is approximately 1.2 billion barrels of recoverable light oil from Alaska’s North Slope in the Nanushuk play. Repsol isn’t new to Alaska. The company has been ...

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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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Up, up and away! Rig count up another 3

oil rig, rig count, Baker Hughes

The Baker Hughes U.S. rig count continues to steadily climb, gaining another 3 rigs this week. A total of 602 rigs are exploring for oil, up 5 from last week, while gas rigs declined by 2. By state, Texas still leads the pack with 386 rigs, up 8 from last week. Alaska and Louisiana each lost two, while North Dakota ...

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ND House passes tax on private frack water suppliers

Shale boom leads US to first annual trade surplus with OPEC

In a move that defies all campaign promises, House Republicans voted to impose a newly invented tax on private businesses that provide water for the oil industry to frack oil, reports ND Watchdog Network’s Dustin Gawrylow today. Gawrylow says the Republican controlled House Appropriations Committee hid the tax increase in the Water Commission Budget, which is a “must pass bill.” ...

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Will OPEC continue to cut production?

Photo: Nick Taylor via Flickr.

Ten OPEC countries achieved 91 percent of their required cuts in January, according to an S & P Global Platts survey released on Monday. In the agreement signed last year, OPEC countries promised to cut 1.2 million b/d for six months and freeze production at 32.5 million b/d for six months in 2017. This includes production by Indonesia, whose OPEC membership is ...

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NDPC scholarship apps due April 1

NDPC, scholarship, oil and gas careers

Bismarck, N.D. – The North Dakota Petroleum Council (NDPC) is seeking applicants for the Al Golden Memorial Scholarship program, which will provide a $2,000 scholarship to nine qualified college students pursuing a post-secondary education in geology, engineering, processing plant technology, science, technical skills or other careers related to the oil and gas industry. The application period will remain open until ...

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Movin’ on up! Rig count gains 18

oil rig, rig count, Baker Hughes

The Baker Hughes rig count showed another generous gain Friday. After a large jump last week, the number continues to climb. Of the 712 total, 566 are exploring for oil, 145 are exploring for gas, and 1 is labeled miscellaneous. Offshore, the rig count dropped by 3. The Permian Basin continues to stand out, claiming over half of the total ...

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Texas increases lead huge rig count jump

oil rig, rig count, Baker Hughes

It’s definitely not a little hop, or even a skip. This week’s rig count jump might even be classified as a huge leap of faith as reports across the industry indicate a the oil and gas industry is on the road to recovery. This week, large acquisitions–on by Exxon Mobil and another by Noble Energy–indicate further optimism that activity will ...

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