Serving The Bakken And Beyond
Latest Prices

Latest Prices

Upper Rocky Mountain
Spot Crude Oil Prices

WTI and N. Texas: $50.46
CO North Central: $47.85
Colorado Western: $44.80
ND Light Sweet: $45.60
WB Mixed Sweet: $45.83
N Wyo. / S Mont.: $45.63
Wyoming Sweet: $47.27

Spot prices updated Feb. 28

Daily Cash Market
Spot Natural Gas Prices

Henry Hub: $2.51
Watford City, ND: $2.07
CIG Rocky Mtn: $2.16
Opal, SW Wyoming: $2.40
Malin, Oregon: $2.26
NGPL Midcontinent: $2.23
Chicago Citygate: $2.60
NGPL TX / OK: $2.37

Spot prices updated Feb. 28

U.S. Rig Count

754 as of 2/24/2017
+3 from 2/17/2017
+252 from 2/26/2016
(Courtesy Baker Hughes)
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More North Dakota Crude Going Into Pipelines

North Dakota saw a sharp surge in Bakken crude oil going into pipelines, as production in December dropped by 92,000 BOPD to 942,455 BOPD.

Justin Kringstad, executive director of the ND Pipeline Authority, estimated only 200,000 BOPD were leaving the state by rail in December, dropping to 22% from 29% in November.

This past December, operators carved through huge snowbanks to shut down North Dakota wells.
This past December, operators carved through huge snowbanks to shut down North Dakota wells.

The amount of crude leaving the state by pipeline jumped up to 64% from 55% in November.

The production decline was not unexpected, as the ND Dept. of Mineral Resources had predicted in January that severe winter weather would force operators to delay fracing operations.

During December, there were over 15 days where wind speeds exceeded 35 mph and nine days where temperatures reached 10 or more degrees below zero.

Also down was the number of producing wells which had declined to 13,337, as well as natural gas production, which dropped to 1,538,060 Mcf a day.

With severe cold weather restricting production in January—which will be followed by spring road restrictions—Lynn Helms, director of the ND Dept. of Mineral Resources, said “we won’t see a turnaround for quite some time”.

“Operators are going to add as many frac crews as they can [in the spring],” Helms said. Continental Resources is committed to running six frac crews and getting wells waiting on completion down by two thirds.

There were only 81 wells completed in December; another 807 wells were waiting on completion services. The number of inactive wells increased by 54 to 1,573.

In December, ND Sweet Crude prices averaged $39.93 a barrel and have since risen to $42.50 a barrel, as of Feb. 15.

True Oil LLC estimates it can recover between 300,000 and 400,000 barrels of crude oil from injecting ethane and other gases into a McKenzie County, ND well located in the Red Wing Creek Unit.

The ND Industrial Commission approved the new plan, which will use the Burlington Northern #22-27 well in Sec. 27, T148N-R101W and other wells...

With the federal government and the state of North Dakota fighting over ownership of the minerals under Lake Sakakawea—and with millions of dollars in royalties at stake—Continental Resources wants a federal judge to resolve the dispute...
On the heels of its $785 million acquisition of 55,000 acres and assets from SM Energy, Oasis Petroleum plans a very aggressive well completion program in the Williston Basin if oil prices stay in the $50 range...
A group of mineral owners wants the ND Supreme Court to force Zenergy to disclose cost information on two McKenzie County wells for the non-participating owners...
House For Sale
The ND Industrial Commission imposed a $325,000 fine in late September against Black Gold Enterprises of Billings, MT, which has gone bankrupt, but the chances of collecting any money from the struggling company are doubtful...
Donald Trump

During his 2016 election campaign, President Donald Trump gave the following speech to an audience in Bismarck, ND:

I’m delighted to be in North Dakota, a state at the forefront of a new energy revolution. Oil and natural gas production is up significantly in the last decade. Our oil imports have been cut in half. But all this occurred in spite of massive new bureaucratic and political barriers...
News You Will Read Here First
Many copy our stories, but you will read them first in Oil Patch Hotline. We cover news to keep you informed on what is going on in the Williston Basin and the upper Rocky Mountain region. We supply rig locations and the latest drilling permits issued by state commissions in North Dakota, South Dakota, Montana, Wyoming, and Colorado.
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Trash left behind by Dakota Access Pipeline protesters
It has taken over 250 dump truck loads to remove all the garbage left behind by hundreds of Dakota Access Pipeline protestors at the Cannonball River. “Standing Rock Environmental Protection Agency and Dakota Sanitation are working together to try and avert an environmental tragedy,” stated Tom Doering, Morton County emergency manager, in February. The area occupied by the protestors is adjacent to the Cannonball and Missouri rivers, and is expected to flood during the spring thaw.
EOG Resources joined other oil companies and royalty owners in challenging the inclusion of Lake Sakakawea as part of the state of North Dakota’s mineral ownership...
A state legislator wants the ND Industrial Commission, which oversees the oil and gas industry in the state, to get tougher on royalty statements issued by Hess Corp. that don’t explain deductions...
Emerald Oil Inc. of Denver, a small independent operator in the Williston Basin, emerged from Chapter 11 bankruptcy protection and will be renamed National Oil Production Company LLC...
Bids averaged $1.59 acre for oil and gas leases in two Montana counties that netted the state only $11,921...
A large group of royalty owners, who are contesting ownership of minerals in 200 acres along the Missouri River near Williston, are headed to the ND State Supreme Court, appealing the summary judgement of a district court judge...
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