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Oil production counties at the top of ND list

ND counties 1

BISMARCK, N.D. (AP) — High-paying jobs in North Dakota‘s booming oil patch helped bump the state’s average annual wage by 10 percent last year to nearly $46,000 though the state continues to lag behind the national average, a Job Service analysis showed. “We’re seeing pretty incredible increases,” Job Service North Dakota research analyst Michael Ziesch said Wednesday. “We’re slightly behind ...

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An in-depth look at the current Bakken Oil Deal

bakken oil deal

Source: Whiting Petroleum Investor Presentation (link opens a PDF) On the surface Whiting Petroleum’s (NYSE: WLL  ) $260 million acquisition of 17,282 net acres in the Bakken looks like nothing more than a small bolt-on acquisition. However, digging a little deeper, the deal is bigger than the numbers indicate. Let’s take a closer look. Setting the stage What investors need to ...

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Q2 2013 results posted by Continental Resources

Continental Resources

Continental Resources, Inc. (NYSE: CLR) (“Continental” or the “Company”) announced second quarter 2013 operating and financial results, reporting net income of $323 million, or $1.75 per diluted share.  Adjusted net income, which excludes items typically excluded from published analyst estimates, totaled $246 million, or $1.33 per diluted share.  The Company achieved record EBITDAX of $708 million, an increase of $87 ...

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South Dakota wind project pending per tribal conversation

south dakota wind

It’s domestically sourced, it can’t be depleted and it creates no air pollution. According to Bob Gough of the Intertribal Council on Utility Policy, if fully developed, South Dakota has the wind energy capabilities to meet 75% of the nation’s energy needs. However, our state’s wind energy potential has been largely untapped. Now, with the backing of the Clinton Global Initiative, Rockefeller ...

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Bakken news round-up: Kenmare facelit, Oil rig workers offer gesture, Three Forks discovery

bakken round up

Kenmare to get downtown facelift The Kenmare City council has an $800,000 plan to improve accessibility in its downtown area, including new sidewalks, curb and gutter, lights along the street and in the park in the downtown square. After hearing options from city engineer Ryan Ackerman of Ackerman-Estvold Engineering in Minot, city council members decided on a hybrid project, including ...

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Markets in crude oil continue to change thanks to increase in ND production

crude oil

The differential between West Texas Intermediate (WTI) and North Dakota’s Bakken crudes continues to fluctuate, reflecting both production growth and changes in oil transportation capacity. Bakken crude sold at a $25-per-barrel discount to WTI in early 2012 and rose to a $5-per-barrel premium last September, before again being discounted below WTI this winter. So far this year, the gap between ...

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Oil Shipments receive Safety Inspections via “Operation Classification”

WASHINGTON (AP) — Federal inspection teams have been conducting spot safety checks of rail shipments of crude oil from the booming Bakken oil region in Great Plains states in response to last month’s rail disaster in Canada, U.S. officials said Thursday. The official name of the inspections is “Operation Classification,” although Cynthia Quarterman, head of the Pipeline and Hazardous Materials ...

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Natural Gas Waste, the Next Turn to Big Profit in ND

Natural Gas

By Lew Amicone NORTH DAKOTA’S NEXT ENERGY BOOM: NATURAL GAS As the economic situation hits hard times nationwide, several states cannot stay up to date with infrastructure, as tax profits remain stagnant. In the case of North Dakota, the state is experiencing a facilities shortage as a result of rapid industrial growth in the Bakken and not because of a ...

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