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Why selling crude oil to China is good for America

exports, Bakken, china

Continental Resources, Inc. recently announced its first-ever sale of Bakken oil specifically for delivery overseas. Continental Resources has sold 1,005,000 barrels of crude oil for November delivery to Atlantic Trading and Marketing (“ATMI”), which intends to export the oil to China. “This is a historic day for Continental and begins a new chapter in our long-term strategy to establish multiple ...

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Bakken Backers hosts Bakken 2.0 class Sept. 26

bakken backers

Bakken Backers, a coalition of businesses, leaders, workers, and citizens who support the Bakken and its benefit to North Dakota, is hosting Bakken 2.0. Bakken 2.0 is a free education session about the latest technological trends and economic investments in one of the world’s most-recognized oil formations. The class will be held September 26 at the Alerus Center in Grand Forks ...

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Whiting announces sale of Bakken assets for $500 million

north dakota oil, bakken pumpjacks, oil production

Colorado-based energy company Whiting Petroleum Corp. announced it’s selling it a portion of its North Dakota assets, reported the Denver Business Journal today. The deal between Whiting and RimRock Oil & Gas Williston LLC is said to be worth around $500 million. The sale includes Whiting’s Forth Berthold Researvation area assets located in Dunn and McLean Counties. Whiting executives said ...

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Bakken leads rig count increase

Baker Hughes rig count, Williston, Bakken

The Baker Hughes weekly rig count total showed a small increase of six total rigs exploring for oil and gas Friday, led by an increase of three rigs in the Williston basin. Surprising areas of increase this week led to a net increase while many areas that have seen recent activity showed either losses or no increase at all. While ...

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In the world of water, it’s wise to follow the money

WAWSA, North Dakota, Western Area Water Supply Authority

There’s an old saying in journalism – “follow the money.”  That phrase inserted itself into America’s lexicon and popular culture during the movie “All the President’s Men,” a film portraying the events of Watergate.  Since then, that phrase has been taught or talked about in most basic media classes. Following the money is a basic exercise that uncovers a sizable ...

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WSJ: Why Canada and Brazil hurting market balancing efforts

goodrich files bankruptcy

No one really thinks about how the “little guys” affect the effort to rebalance the oil market. Today, the Wall Street Journal reported that a “wave of new petroleum production from countries like Canada and Brazil is adding a new problem for oil traders.” The WSJ notes that the two countries are the seventh and 10th largest oil suppliers, and production ...

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