How much recoverable oil does the Bakken Formation have? The most recent estimate of proved reserves is just under 6 billion barrels for the entire Williston Basin, which includes the Bakken, and another 3.5 billion to 4.1 billion barrels of "undiscovered and...
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AMERICA’S OIL DRILLING BOOM IS SPUTTERING BACK TO LIFE
For the first time in five months, a rig in the Williston Basin, where North Dakota's Bakken shale formation lies, sputtered back to life and started drilling for crude once again. And then one returned to the Permian Basin, the nation's biggest oil play, field...
EOG HAS LION’S SHARE OF 900 NORTH DAKOTA WELLS AWAITING FRACKING
Reuters) - Oil producer EOG Resources Inc has the lion's share of an estimated 900 North Dakota wells waiting to be fracked, according to state data, showing that even major oil titans are mothballing operations while they hope for a rebound in oil prices.For months...
BAKKEN SHALE IS ALIVE AND, SORT OF, KICKING, ANALYSTS SAY
Came across some positive news for North Dakota amidst this downturn in the industry. SterneAgee analysts Tim Rezvan and Truman Hobbs presented at Hart Energy's DUG Bakken and Niobrara conference earlier this month where they learned that operators remain bullish...
COMPANY GETS SHIPPING COMMITMENTS ON “BAKKEN PIPELINE”
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. Dallas-based Energy Transfer Partners LP said Thursday in a statement that the "Bakken Pipeline"...
PROSECUTORS ARE READING EMAILS FROM INMATES TO LAWYERS
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. But even as Mr....
BLOCKBUSTER BAKKEN DEAL MAY PUT A BIT MORE OIL IN TRADERS’ HANDS
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. Over the weekend, Whiting Petroleum Corp said it would acquire...
WHITING PETROLEUM TO BUY KODIAK OIL & GAS
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. The deal will unite two big exploration and production companies, both of which have a strong presence in...
DALRYMPLE ON REGULATORY PUSH TO REDUCE BURN-OFF BY BAKKEN OIL PRODUCERS
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...
NORTH DAKOTA PUMPS 1 MILLION BARRELS OF OIL A DAY
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...