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Tag Archives: bakken oil

Oasis Petroleum’s credit line cut by Wall Street banks

Credit lines for Oasis Petroleum have been reduced by about $170 million by Wall Street banks due to the persisting oil price slump. As reported by Reuters, this is the largest reported reduction of an oil producer’s “access to debt markets” this fall, prompted of course by low oil prices. Oasis, operating exclusively in the North Dakota Bakken oil patch, ...

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North Dakota oil output down only slightly in July

WILLISTON, N.D. – North Dakota’s daily oil production fell less than 1 percent in July, state regulators said on Monday, a drop far less than many feared and one showing the state’s Bakken shale formation could continue pumping high volumes of crude for the foreseeable future despite sliding prices. The state, the No. 2 U.S. crude producer, had output of ...

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Economic growth tied to more than just price of oil

Last year at this time my office received dozens of phone calls and emails asking about ‘Boomtown’ and what’s really going on in Williston, North Dakota. Now we get calls asking about ‘the bust’ and what’s it like in Williston. After I slowly put down the phone and back away from the keyboard, I take a breath and just smile. ...

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North Dakota’s newest refinery loses money in second quarter

DICKINSON, N.D. — North Dakota’s newest oil refinery lost money in its first few months of operation. The Dakota Prairie Refinery near Dickinson lost nearly $3.9 million in the second quarter, the Bismarck Tribune reported. MDU Resources Group cited “extremely difficult market conditions” for diesel fuel. Factors included higher prices for western North Dakota crude and an increase in demand ...

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Top 5 Bakken stories of the week

In case you missed them, here are the top five stories from Bakken.com for the week of July 25th through July 31st. Enjoy! 5. ND oil patch county cracks down on new crew camps WILLISTON, N.D. — The Williams County Commission has adopted new rules that are intended to phase out temporary housing, including crew camps, RV and trailer parks ...

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ND gas flaring goals jeopardized by low oil prices

oil production

BISMARCK, N.D. — North Dakota’s top energy regulator says the low oil prices might jeopardize targets that require reducing the amount of natural gas that is burned off as a byproduct of the state’s oil production. State Mineral Resources Director Lynn Helms told some lawmakers Monday that the oil industry is exceeding rules that require reducing the amount of natural ...

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