The Bakken shale will not go quietly. That’s what we’ve begun to gather, at least in terms of the news cycle. Hess Corp. continued a trend of producers shedding noncore assets to build up liquidity. Hess, though, might have done so in one of the more shareholder-friendly ways by creating a joint venture with its Bakken-area midstream assets.
Also out of the Bakken, the spread between oil prices in the region and those earmarked as West Texas Intermediate has narrowed to a range not seen in some time. What gives?
And, in case you missed it, the United States has surpassed Russia and Saudi Arabia as the top oil producer in the world. It seems that we simply can’t stop increasing our production. Is this a good or bad thing over the long term?
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