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Marathon Oil to pay $888 million for PayRock Energy

marathon oil

NEW YORK (AP) — Marathon Oil said Monday that it has agreed to pay $888 million for PayRock Energy Holdings, increasing the amount of oil producing land it owns in Oklahoma. PayRock has 61,000 net surface acres that produces 9,000 net barrels of oil equivalent per day, Marathon said. Houston-based Marathon is buying PayRock from oil and gas investment firm ...

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North Dakota’s savings dwindling due to tax collection drop

oil industry, north dakota, drilling rig

BISMARCK, N.D. (AP) — A North Dakota rainy-day fund that held more than $572 million in January is on the verge of being emptied due to lower-than-expected tax collections from depressed oil and farm commodity prices. “There are no ‘ifs,'” North Dakota Treasurer Kelly Schmidt said Friday. “We will drain it.” The Budget Stabilization Fund, established in 1987, was intended to stash ...

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Top 5 Marcellus Stories of the Week, June 11-17

marcellus top 5

Just in case you missed this week’s headlines, here’s a summary of what our Marcellus readers found most engaging this week: Technology is always at the forefront of oil and gas operations. Here’s one way to get around those carbon emissions regulations. What will the future hold? Scientists turn carbon dioxide into harmless stone 2. Those opposed to oil and ...

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Top 5 Bakken Stories of the Week, June 11-17

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Doug Burgum’s bid for North Dakota governor came one step closer to reality with his Tuesday win in the primary. The republican candidate stressed policies that stress economic growth and capitalizing on North Dakota’s two most important industries: energy and agriculture. Burgum-Sanford ticket emphasizes energy, economic growth 2 & 3. Two spills in North Dakota this week got lots of ...

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North Dakota’s outsider candidate ready to tackle bad news

FARGO, N.D. (AP) — Hours after North Dakota Republicans put former Microsoft executive Doug Burgum on track to become governor, another grim report about oil production underscored the challenges awaiting the next leader of a once-thriving state now enduring an economic downturn. With his resounding primary victory over longtime state Attorney General Wayne Stenehjem, who had the GOP convention’s endorsement, ...

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