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Bakken News

Hess proving to be a big player in the Bakken


While it might only be the third-largest driller in North Dakota, Hess (NYSE: HES)  has drilled 18 of the 50 top producing wells in the Bakken region over the past two years. The company is focusing on three areas to drive its overall Bakken performance: well costs, productivity, and price realization. This should enable the company to deliver superior returns. Looking ...

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One-on-One with Harold Hamm

Harold Hamm

WILLISTON, N.D.—Washington’s fixation on Harold Hamm, the onetime top energy adviser to Republican presidential candidate Mitt Romney, has waned since the former Massachusetts governor lost the 2012 race. But as long as America is booming with oil, as it is here in the Bakken shale-oil fields of North Dakota, Hamm will be more relevant than he ever was in Romney’s ...

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Oil Pipeline Shutdown Weakens Bakken Numbers

Oil and Gas Pipeline

Crude from the Bakken shale formation weakened against the U.S. benchmark West Texas Intermediate an oil pipeline shutdown occurred from Clearbrook, Minnesota, to the Twin Cities area because of a leak. Bakken fell 50 cents a barrel to a discount of $4.50 a barrel over WTI at 2:08 p.m. New York time, according to data compiled by Bloomberg. Koch Pipeline Co. LP is testing ...

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Global Partners LP announce second quarter results

Global Partners

Short-term challenges, including lower retail gas margins and unfavorable weather conditions in North Dakota that delayed tank and pipeline expansion, led to weaker second-quarter results for the Waltham fuel distributor Global Partners LP. Net income for the second quarter of 2013 was $8.7 million, or $0.29 per diluted limited partner unit, compared with net income of $18.5 million, or $0.66 ...

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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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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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