BISMARCK, N.D. (AP) - A Texas company has obtained enough shipping commitments from oil companies to build a 1,100-mile pipeline from western North Dakota to Illinois.
New York - The extortion case against Thomas DiFiore, a reputed boss in the Bonanno crime family, encompassed thousands of pages of evidence, including surveillance photographs, cellphone and property records, and hundreds of hours of audio recordings.
Whiting Petroleum Corporation on Sunday said it would buy Kodiak Oil & Gas Corporation for $3.8 billion in stock, and assume $2.2 billion of Kodiak's debt.
Reuters NEW YORK - A $6 billion takeover to create the biggest oil producer in the Bakken shale may also open up new opportunities for some big traders who ship oil from North Dakota and Montana to market.
North Dakota is at the epicenter of the Bakken Shale oil-production boom that has lifted U.S. crude production to multiyear highs. While that development has brought investment and jobs to the once hard-pressed state, the pace of growth has posed a challenge in terms of infrastructure capacity and regulatory oversight. One of the most obvious issues is the widespread burning off, or flaring, of surplus natural gas at oil wells at levels much higher than in other oil-producing states such as Oklahoma and Texas. North Dakota's Republican Gov. Jack Dalrymple, a member of the state's powerful industrial commission, spoke to The Wall Street Journal's Chester Dawson recently about new regulatory initiatives designed to reduce flaring by Bakken oil producers. Read the full Q & A at The Wall Street Journal.
AP via ABC - North Dakota has joined the ranks of the few places in the world that produce more than a million barrels of oil per day, due in large part to the rich Bakken shale formation in the western part of the state.The April figures released Tuesday by the state's Department of Mineral Resources showed the record tally. North Dakota had flirted with the million-barrel-per-day mark for months, but the harsh winter slowed the pace. In March, production had hit 977,000 barrels per day.
Via Seeking Alpha - When investors hear the word "Bakken," the companies that usually come to mind are Continental Resources (CLR), Whiting Petroleum (WLL), or perhaps Statoil (STO). However, Exxon Mobil (XOM) has ~570,000 acres in the tight-oil play across North Dakota and Montana. In the company's 2013 annual report, it explained the slow and steady progress it has made in the play since the 2008 acquisition of XTO energy. While production levels are a small slice of the company's total upstream output today, the Bakken represents a very large exploitable resource for Exxon.
Via KFGO: Minnesota District Court Judge Steven Cahill dismissed charges against two individuals in Clay County who refused to submit to blood alcohol tests on the basis that the U.S. Supreme Court's holding in Missouri v. McNeely, 133 S.Ct. 1552 (2013), requires law enforcement to obtain a search warrant to obtain samples for chemical testing for blood-alcohol content. Cahill is now on the outs with Clay County prosecutors who argue the Minnesota Court of Appeals' upholding of the state's "implied consent" law permits prosecution.
The Dakota Prairie Refining facility under construction four miles west of Dickinson is about $50 million over budget but remains on track to start refining crude in December, a project official said last Tuesday at the Williston Basin Petroleum Conference in Bismarck. via Prairie Busines.
As North Dakota oil production approaches the milestone of producing 1 million barrels a day, CEOs of three top Bakken companies said Thursday that's only the beginning. Continental Resources CEO Harold Hamm said he projects that technology advancements will push the state's production to 2 million barrels per day. via Prairie Business Magazine