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Crews excavating North Dakota land after large spill

BISMARCK, N.D. (AP) — Crews in North Dakota excavated pastureland after more than 120,000 gallons of oil and drilling wastewater overflowed from a tank, the state Health Department said Friday. The spill happened Wednesday morning near Marmarth in southwestern North Dakota at a site operated by Plano, Texas-based Denbury Onshore LLC, according to Bill Suess, an environmental scientist who heads ...

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North Dakota housing fund threatened with drilling downturn

BISMARCK, N.D. (AP) — A state income tax credit that helped subsidize construction of thousands of living spaces largely in western North Dakota’s oil patch has outlived lived its usefulness with the downturn in drilling and a prolonged slump in crude prices, the chairmen of the Senate and House taxation committees say. “Without a doubt, we need to re-evaluate this,” ...

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Average gasoline price could break $2 threshold

Average gasoline price could break $2 threshold

The national average price for a gallon of gasoline may rise above $2 soon. A gallon of gas averaged $1.99 in the United States late Monday afternoon, according to GasBuddy.com. The average price has risen 5 cents in the past week. The average price for a gallon of gas in Houston was $1.84 on Monday afternoon, up 6 cents from ...

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Eagle Ford, Bakken production continues to drop

Eagle Ford, Bakken production continues to drop

Two of the nation’s most-prolific shale plays continue to see production numbers drop slightly. The Eagle Ford Shale and Bakken formation produced less oil in January than in December, according to analytics and consulting group Platts Bentek. In fact, oil production from both Eagle Ford and Bakken formations reached their lowest levels since Platts Bentek started tracking them in October ...

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Crude oil train numbers declined last year

Crude oil train numbers declined last year

OMAHA, Neb. (AP) — Freight railroads delivered 17 percent fewer carloads of crude oil last year after oil prices collapsed. The Association of American Railroads said Wednesday 410,249 carloads of crude oil were carried across the United States last year, down from 493,126 carloads in 2014. But the number of crude oil carloads remains well above the 9,500 carloads railroads ...

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Texas investment firm partners with Bakken operators

A Fort Worth energy investment firm partnered with a team of Bakken operators and developers to purchase a package of assets in the Williston Basin. Vortus Investments, along with the team from Denver’s North Plains Energy, have formed NP Resources LLC. After acquiring the Williston Basin assets, NP Resources will now have roughly 90,000 net acres spread throughout three North ...

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Distressed Eagle Ford, Bakken asset sales seen soon – Anadarko CEO

HOUSTON – Financial distress is soon expected to trigger long-awaited sales of oil and gas properties in North Dakota’s Bakken and Texas’ Eagle Ford basin, the chief executive of Anadarko Petroleum Corp said on Tuesday. A prolonged downturn in crude oil prices has generated lots of chatter that companies laboring under heavy debt that operate shale fields with high break-even ...

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Top 5 stories of the week

Here are the top five stories from Bakken.com for the week of September 27th through October 3rd. Enjoy! 5. Pickens: When we produce, we let it rip The price of oil won’t be down for long, at least according to one wealthy expert. As soon as December of this year, oil is predicted to be back to $70 per barrel, said T. ...

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