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Tag Archives: bakken

Kinder Morgan to buy Hiland Partners for $3 billion

HOUSTON – Leading pipeline company Kinder Morgan Inc <KMI.N> will buy Hiland Partners, a pipeline and logistics company founded by Continental Resources Inc <CLR.N> Chief Executive Officer Harold Hamm, for $3 billion, the company said on Wednesday. Hiland Partners builds and operates oil gathering and transportation pipelines and natural gas gathering and processing systems primarily in the Bakken shale oilfields ...

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Low oil prices unlikely to hurt railroads much

OMAHA, Neb.— The stunning collapse in oil prices over the past several months won’t derail the railroads’ profit engine even if it does slow the tremendous growth in crude shipments seen in recent years. Carloads of crude oil spiked well over 4000 percent between 2008 and last year — from 9,500 carloads to 435,560 — as production boomed and the ...

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American Eagle Energy suspends drilling operations amidst falling oil prices

The recent fall in oil prices has claimed yet another victim, for now. American Eagle Energy, based out of Littleton, Colorado, has announced that the company is suspending its drilling operations and likely won’t resume until oil prices improve, according to the Wall Street Journal. American Eagle Energy provides exploration and productive long-term reserves from some of North America’s most ...

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Petroleum production prospers in November

Petroleum demand in November produced some of the highest numbers seen in years, according to the American Petroleum Institute’s monthly statistical report. The report, published Thursday, reveals a number of different categories. Those categories range from macroeconomic indicators such as rig counts, Institute for Supply Management reports and indicators of petroleum demand including total deliveries, gasoline, distillates, and jet fuel. ...

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$2 gas and booming shale, it’s too good to be true

canola

According to the Energy Information Administration (EIA) it is possible for Texas to have $2 gasoline whiling continuing crude oil production. In the EIA’s short-term energy outlook report, which projects energy production and prices for 2015, Texas will be paying $2 a gallon for gasoline and crude oil production will continue, but at a slower pace. The average national gas ...

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Texas oil boom starts taking hits from cheap gas

pump jack

Falling oil prices are causing some drilling companies to cut back on operations in Texas. Baker Hughes Inc. recently reported shutting down four of its rigs in the Permian Basin of Texas and New Mexico.  Oil rig counts have also dropped in North Dakota’s Bakken shale formation. From this year’s peak, oil prices have dropped 29 percent and are causing ...

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Marathon stays committed to drilling

marathon oil

Marathon Oil is in the process of building its budget plan for next year.  However, falling oil prices aren’t helping the company at all, but Marathon says it is in it for the long haul even though its third-quarter profits took a hit. Like many companies, Marathon is pushing through the process of figuring out how to spend its money ...

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Santa Fe Independent Film Festival: “The Overnighters”

90 minutes, rated PG-13, 12:30 p.m. Sunday, Oct. 19, Center for Contemporary Arts, 4 chiles Director Jesse Moss’ searing documentary, winner of a Special Jury Award for Achievement for Intuitive Filmmaking at the Sundance Film Festival, tells of desperate men who migrate to Williston, North Dakota, to work in the oil fields. Hydraulic fracturing is seen as a get-rich-quick opportunity, ...

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