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Enerplus meeting expectations in Williston Basin


The Williston Basin in North Dakota and Montana continues as a core element of resource plays that give Calgary-based Enerplus the confidence its modest 5 percent annual targeted growth in production is well within reach. The independent now in its 27th year of business is aiming for 18,000 barrels of oil equivalent per day from the basin by year’s end, ...

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Keystone XL: How long can you beat a dead horse?


WILLISTON, N.D. – While many say the importance of the Keystone XL pipeline has dimmed for the Bakken, North Dakota congressional leaders continue to call for its approval, citing its creation of jobs and promotion of North American energy security. Thursday marked the fifth anniversary of TransCanada’s application to the U.S. State Department for the 1,700-mile pipeline from Alberta to ...

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Western Area Water Supply rates set


The North Dakota Industrial Commission voted to set rates for water sales for the Western Area Water Supply Authority during its meeting Thursday. Officials with the WAWS Authority briefed the commission on the rates prior to the vote. Jaret Wirtz, executive director of the WAWS Authority, said the group was recommending a rate of $20 per thousand gallons. This would ...

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Oasis Petroleum seen expanding in the Bakken

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No explorer in the oil-rich Bakken shale formation offers more bang for the buck than Oasis Petroleum Inc. (OAS) Oasis this month signed agreements to add 161,000 acres in the Williston Basin, which includes the Bakken formation, giving it more real estate in the region relative to its $5.2 billion enterprise value than any similar-sized competitor, according to data compiled ...

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Continental Resources and Wall Street: The Odd Couple

continental resources

After years of torrential growth, the top leaseholder in the Bakken Shale has entered the club of companies with the stoutest financial reputations. Continental Resources Inc. graduated to an “investment grade” credit rating from Standard & Poor’s late last month. It joins a small group of non-oil majors with that standing, including ConocoPhilips Co., Devon Energy Corp. and EOG Resources ...

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U.S. crude pipelines or U.S. railroads


As 57,000 miles of U.S. crude pipelines threaten to lure business from railroads, Burlington Northern Santa Fe LLC and Union Pacific Corp. (UNP) are sticking to their bet on the nation’s energy boom. Domestic oil that was significantly cheaper than imported crude for the last two years allowed refiners to pay rail service’s higher transportation costs rather than use slower, less expensive pipelines. With ...

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North Dakota airports report busiest August yet


North Dakota airports had strong and even record-breaking August boarding numbers, according to data released by the North Dakota Aeronautics Commission. Minot International Airport had 19,656 passengers in August, just slightly down from 20,743 this past August. Both those are considerable increases over the previous two Augusts – 13,990 in 2011 and 8,798 in 2010. While Minot International Airport’s growth ...

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Regulator in ND oil warns of possible bumps in the road


GRAND FORKS – North Dakota is projected to ultimately produce just under 1.6 million barrels of oil per day, but risk factors could threaten that production, the state’s top oil and gas regulator said Tuesday. Department of Mineral Resources Director Lynn Helms told more than 800 people attending the North Dakota Petroleum Council’s annual meeting in Grand Forks that the ...

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Bakken shale weakened against competitor


Crude from the Bakken shale weakened against West Texas Intermediate with production at a 23-year high and as Marathon Petroleum Corp. (MPC) prepared to start maintenance at its Catlettsburg, Kentucky, refinery. Bakken fell $1 a barrel to a discount of $7.50 against the domestic benchmark at 12:05 p.m. New York time, according to data compiled by Bloomberg. Increased output from shale formations ...

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