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Top 5 stories of the week

Here are the top five stories from Bakken.com for the week of January 5 through January 9. Enjoy! 5. Bakken rigs slow as prices drop On Monday the price of oil per barrel dipped to around $50, a five year low, causing stock prices to plunge and bringing new focus on how oil companies operating in the Bakken formation will respond. ...

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Halcon Resources cuts 2015 spending again

Jan 8 – Oil and gas producer Halcon Resources Corp said it would further cut its drilling and completion budget for 2015, responding to the continuing fall in oil prices. Halcon said on Thursday it now expected to spend between $375 million to $425 million, down from its earlier forecast of $750 million to $800 million. The midpoint of the ...

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Global oil and gas exploration spending to slide 17 pct

HOUSTON, Jan 7 – The world’s oil and gas exploration companies are expected to cut capital expenditures 17 percent this year as a deep slump in crude oil prices takes a toll on budgets, according to a survey by Cowen and Company released on Wednesday. The survey, based on an average oil price of $70 per barrel, estimates that global ...

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Rig count trends among major U.S. shale plays

The slide in oil prices recently has been causing a noticeable trend with the amount of rigs accounted for among various shale plays throughout the United States. In fact, over the past three weeks, rig counts have seen substantial declines with over 90 rigs being shut down, according to Baker Hughes. Which raises the question. Which of the major shale ...

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U.S. oil production will be falling by end of 2015: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON, Jan 7 – Unless prices recover, U.S. oil production will start falling before the end of 2015 as new drilling is insufficient to replace declining output from wells completed in 2013 and 2014. Future production depends on the rate of decline from existing wells (known as ...

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The energy boom: It’s not just for men

KENEDY — A stiff, chilly wind from the north whips through the city. Ingrid Hollinger isn’t fazed. She’s felt this kind of cold before. “I’m used to it by now,” she says, standing in the shadows of an oil rig. “You kind of get used to it after a while.” It’s here at a recently built training facility that the ...

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2014’s Booms, Bans and Busts no. 1: Production milestones and the move for energy independence

For the past couple of weeks, Shale Plays Media has been recapping the biggest topics of 2014. From carbon emissions regulations to exports, we’ve covered it all. But there’s one topic that’s missing, which brings us to our final story: The United States officially became the #1 oil producer on the globe in 2014. Energy independence has been a weighty ...

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Comstock quits Tuscaloosa play on falling prices

MCCOMB, Miss. — A second oil company is stopping drilling in the Tuscaloosa Marine Shale because of falling oil prices. Comstock Resources, based in Frisco, Texas, said Thursday that it would stop drilling in the oil region, which straddles the state line between southwest Mississippi and Louisiana’s Florida Parishes. “Comstock has released its rig in the Tuscaloosa Marine shale and ...

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Gas flares in Eagle Ford Shale continue upward

SAN ANTONIO — Gas flaring in the most profitable shale field in the U.S. is on pace to surpass to 2013 levels of waste and pollution in South Texas, according to a newspaper analysis of state records published Sunday. The Eagle Ford Shale burned off more than 20 billion cubic feet of natural gas in the first seven months of ...

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BHP Billiton slashes $2.5B of capital spending

budget

BHP Billiton slashes $2.5B for capital spending According to Deutsche Bank, BHP Billiton (BHP) jumps on the capital spending bandwagon and is expected to cut $2.5 billion from its onshore U.S. petroleum business over the next four years. As reported by Western Australia Today, Paul Young, a mining analyst with Deutsche Bank, said, “BHP’s strategy of focusing its U.S. onshore ...

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