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Tag Archives: bakken oil

North Dakota oil output drops 20K barrels daily in June

BISMARCK, N.D. (AP) — North Dakota’s oil production decreased by more than 20,000 barrels a day in June. The Department of Mineral Resources says the state produced an average of 1.02 million barrels of oil daily in June, down from 1.04 million barrels in May. North Dakota’s production record was set in December 2014 at 1.22 million barrels daily. North ...

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NY Sen. Schumer: Make oil safer before train shipments

oil train, crude train, Sen. Schumer

ALBANY, N.Y. (AP) — New York Sen. Charles Schumer says oil companies should be required to make their crude less dangerous to transport before loading it onto trains. The Democrat said Wednesday that much of the oil being shipped via train can be rendered less hazardous by removing flammable gasses first. Oil coming from North Dakota’s Bakken Shale formation is considered more ...

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Trump uses energy speech to outline general election pitch

Donald Trump energy speech

BISMARCK, N.D. (AP) — Presumptive Republican presidential candidate Donald Trump unveiled an “America first” energy plan he said would unleash unfettered production of oil, coal, natural gas and other energy sources to push the United States toward energy independence. But the speech, delivered at the annual Williston Basin Petroleum Conference in Bismarck, North Dakota, went far beyond energy, as Trump ...

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Laid-off woman’s Facebook plea brings help for Christmas

This June 21, 2015 family photo provided by Elizabeth Garcia shows Garcia posing with her children Cristian, rear, and Nayeli, at their home in Watford City, N.D. The oil industry slump is leading to layoffs in North Dakota’s oil patch, but Garcia, who was laid of before Christmas, has found some surprising support. Garcia couldn’t buy presents for her two kids, so she put her plight on Facebook and tried to sell an old camper she owned. The response was overwhelming. (AP Photo/Elizabeth Garcia via AP)

BISMARCK, N.D. — When Elizabeth Garcia looked at the bare area under her Christmas tree and considered the bills that had been mounting since her last job layoff, she knew she had to do something to give her family a merry holiday. She turned to social media. Garcia, 33, one of thousands of North Dakotans to lose their jobs during ...

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Oasis Petroleum’s credit line cut by Wall Street banks

Credit lines for Oasis Petroleum have been reduced by about $170 million by Wall Street banks due to the persisting oil price slump. As reported by Reuters, this is the largest reported reduction of an oil producer’s “access to debt markets” this fall, prompted of course by low oil prices. Oasis, operating exclusively in the North Dakota Bakken oil patch, ...

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Cannibalizing the oilfield: Idle rigs scavenged for parts

In the ongoing effort to save money amidst the oil price slump, rig owners have taken to “cannibalizing” parts like motors and drill pipe from stacked rigs, according to Reuters. To make repairs on the 800 some drilling rigs active in the U.S., equipment is being scavenged from the 1,100 rigs which were idled due to the price crash. The ...

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Economic growth tied to more than just price of oil

Last year at this time my office received dozens of phone calls and emails asking about ‘Boomtown’ and what’s really going on in Williston, North Dakota. Now we get calls asking about ‘the bust’ and what’s it like in Williston. After I slowly put down the phone and back away from the keyboard, I take a breath and just smile. ...

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North Dakota’s newest refinery loses money in second quarter

DICKINSON, N.D. — North Dakota’s newest oil refinery lost money in its first few months of operation. The Dakota Prairie Refinery near Dickinson lost nearly $3.9 million in the second quarter, the Bismarck Tribune reported. MDU Resources Group cited “extremely difficult market conditions” for diesel fuel. Factors included higher prices for western North Dakota crude and an increase in demand ...

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ND gas flaring goals jeopardized by low oil prices

oil production

BISMARCK, N.D. — North Dakota’s top energy regulator says the low oil prices might jeopardize targets that require reducing the amount of natural gas that is burned off as a byproduct of the state’s oil production. State Mineral Resources Director Lynn Helms told some lawmakers Monday that the oil industry is exceeding rules that require reducing the amount of natural ...

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