With focus on Bakken, Hess sells out of Utica Play

A major player in the Bakken oil field and a major employer in Minot is divesting their holdings in other oil fields to focus more heavily on the Bakken. Hess has sold their holdings in the Utica Shale for $400 million.

Read & Share   sourced from: Bakken Magazine

Dealing with low oil, Bakken operators look for new tech

Luke Geiver provides the recap on the monthly update provided by Mineral Resource director Lynn Helms. Of note, producers are still investing in technology to improve efficiency, and the price point required to see increased activity is $40-50 per barrel.

Read & Share   sourced from: Bakken Magazine

NDSU economist: State’s economy suffering from lack of diversity

The recent billion-dollar budget shortfall has exposed some glaring issues with the North Dakota economy. Despite all the fantastic news of the last few years, we’re still painfully dependent on two industries — agriculture and oil and gas.

Read & Share   sourced from: Bakken Magazine

Q&A: DOT Director on ND Summer Infrastructure Projects

  This past legislative session saw a billion dollar surge bill intended help the western part of the state catch up with oil development growth. A big part of that bill was earmarked to the DOT. Here’s a quick Q & A on some of the projects.

Read & Share   sourced from: Bakken Magazine

Pro-Energy Policies Could Have Enormous Economic Impact

A study commissioned by American Petroleum Institute highlights the positive economic impacts well-crafted regulatory policy would have on the energy industry, the economy, and jobs. And conversely, it finds that bad regulatory policy will reduce jobs, tax revenue, and economic activity.

Read & Share   sourced from: Bakken Magazine

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Statoil to Test Water Saving CO2 Fracking Technology

A new technology that has the potential to save a significant amount of water per well completion and increase production as well. The Norwegian company Statoil is the first major producer make a significant investment in the technology from Ferus LP.

Read & Share   sourced from: Bakken Magazine

Proof That A Bakken Slowdown Spurs Innovation

What happens when things get tight for the private sector? Sometimes we see layoffs and cutbacks in investment, but another byproduct of tougher times is innovation. Luke Geiver of Bakken magazine has the commentary on new well completion technology being advanced.

Read & Share   sourced from: Bakken Magazine

TransCanada, Keystone Proponents Not Giving Up

The U.S. Senate failed to override President Obama’s veto of the proposed Keystone pipeline, but supporters of the project will continue working to have it built.

Read & Share   sourced from: Bakken Magazine

Legislative Week: Common Core, Medical Marijuana, the First Oil Price Tax Trigger

A couple controversial issues on the docket in Bismarck this week. AP Writer James MacPherson provides the rundown and more background at Bakken.com.

Read & Share   sourced from: Bakken Magazine

Bakken Construction CEO: Amount of Catch-up, Future Work is High

Stories in the news telling of a ‘Bakken Bust’ have reached a fever pitch recently, but there are a lot of people in the know who are telling a different story. Here’s one of those ‘alternative’ stories that’s worth a read.

Read & Share   sourced from: Bakken Magazine

Read: What’s Happening at ND Port Services

Nice article from Patrick Miller and The Bakken Magazine on the what’s happening with North Dakota Port Services including operational changes and a vision for the future.

Read & Share   sourced from: Bakken Magazine

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Breakeven Targets, Future ND Production in Low Oil Price Reality

There’s no shortage of oil-price and effect prognosticators these days, but there are few with legitimate inside knowledge. This report from The Bakken Magazine outlines some market realities and offers some good commentary, and it’s based on solid information.

Read & Share   sourced from: Bakken Magazine