Posts filtered on Tag

north dakota

Eagle Ford, Bakken shale production on the decline

Eagle Ford, Bakken shale production on the decline

on
Output from the Eagle Ford has been falling since March 2015.
FILE - This June 12, 2014 file photo shows an oil rig and pumps in Watford City, N.D. State data shows the number of rigs drilling in North Dakota's oil patch has dropped below 60 for the first time since 2009. Fifty-nine rigs were operating in western North Dakota's oil-producing region on Monday, Jan. 4, 2016. That's down from 171 rigs on the same day one year ago due to slumping oil prices. (AP Photo/Charles Rex Arbogast, File)

North Dakota sour crude wells could stop with poor prices

on
North Dakota Petroleum Council President Ron Ness said if sour crude prices were to hold at just a couple of dollars a barrel, the wells will likely be shut down until prices rebound.
(AP file photo)

Company drills in wrong area; forfeits North Dakota oil

on
State Mineral Resources Director Lynn Helms says the company drilled into an area in Williams County in error. He says the company spent more than $8 million drilling the well, which is now plugged.
A crude oil drill rig stands in the distance of a single family home under construction in Williston, North Dakota, U.S., on Monday, Feb. 13, 2012. North Dakota will hold its Republican presidential caucus on March 6. Photographer: Daniel Acker/Bloomberg

New records show extent of damage from oil bust on North Dakota economy

on
Records show 10 of 15 industries reported decreases during the third quarter of 2015.
FILE - This June 12, 2014 file photo shows an oil rig and pumps in Watford City, N.D. State data shows the number of rigs drilling in North Dakota's oil patch has dropped below 60 for the first time since 2009. Fifty-nine rigs were operating in western North Dakota's oil-producing region on Monday, Jan. 4, 2016. That's down from 171 rigs on the same day one year ago due to slumping oil prices. (AP Photo/Charles Rex Arbogast, File)

Sapped U.S. shale budgets to come in lower than 1980s bust

on
Deep budget cuts are expected to prompt another exile of drilling rigs from Texas and North Dakota, with the average U.S. land rig count dropping by about 300 this year, Cowen says.
( Jay Pickthorn/AP/Statoil).

North Dakota rigs slip below 60 for first time since 2009

on
State and industry officials said North Dakota should be able to maintain oil production at the current level if the number of drill rigs stays above 50.
(Spencer Platt/Getty Images)

U.S. oil states facing deficits heading into 2016

on
Alaska, Louisiana and Oklahoma have seen tax collections diminished by the rout, which has put pressure on credit ratings and led investors to demand higher yields on some securities
A crude oil drill rig stands in the distance of a single family home under construction in Williston, North Dakota, U.S., on Monday, Feb. 13, 2012. North Dakota will hold its Republican presidential caucus on March 6. Photographer: Daniel Acker/Bloomberg

Oil slump weighing on housing markets in Texas, North Dakota

on
Home sales are down sharply this year in North Dakota and the West Texas cities of Midland and Odessa. Home sales have also slowed in El Paso, and, more recently, in Houston.
A lineman at the Houston Ship Channel. LNG company NextDecade is hoping to build an export facility in nearby Galveston to take advantage of the shipping lane. Photo by Lou Vest.

Here’s why the U.S. will export oil for first time in decades

on
The lifting of the embargo is part of a spending deal expected to be pushed through the House and Senate by the end of the week.
(Photographer: Eddie Seal, Bloomberg)

Magnum Hunter seeks bankruptcy amid oil rout

on
The Irving, Texas-based company, which pumps most of its natural gas and oil from Pennsylvania’s Marcellus Shale and Ohio’s Utica Shale, said it had $6.4 million in cash and $1.1 billion in total liabilities at the end of September.