Serving The Bakken And Beyond
Latest Prices

Latest Prices

Upper Rocky Mountain
Spot Crude Oil Prices

WTI and N. Texas: $47.30
CO North Central: $43.30
Colorado Western: $41.64
ND Light Sweet: $42.54
WB Mixed Sweet: $42.33
N Wyo. / S Mont.: $42.49
Wyoming Sweet: $44.13

Spot prices updated Oct. 21

Daily Cash Market
Spot Natural Gas Prices

Henry Hub: $2.89
Watford City, ND: $2.45
CIG Rocky Mtn: $2.60
Malin, Oregon: $2.82
NGPL Midcontinent: $2.71
NGPL TX / OK: $2.80

Spot prices updated Oct. 21

U.S. Rig Count

553 as of 10/21/2016
+14 from 10/14/2016
-234 from 10/23/2015
(Courtesy Baker Hughes)
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As some producers curtailed well flows in August, North Dakota saw crude oil production drop by 48,695 BOPD to 981,039 BOPD. It was the sharpest month-over-month decline as production went up slightly in July to 1,029,734 BOPD.

At least two operators restricted production in August because of low prices,” said Lynn Helms, director of the North Dakota Dept. of Mineral Resources...

Northern Oil and Gas’s share price has been boosted with a $16 million investment from Bahram Akradi, founder and CEO of Life Time Fitness. He bought 3.41 million shares of the company recently, and Northern’s share price rose to $2.49—up 24 cents—during trading on Oct. 12.

The investment comes at a time when the company, a non-operating investor in Williston Basin wells, is under scrutiny after its CEO Michael Reger was fired in August...

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...
Settlements totaling $123,003 were confirmed in August, with formal orders from the ND Dept. of Mineral Resources resulting in $550,000 in fines against six operators for varied oilfield violations—many of them being accidental oil and salt water spills...
House For Sale
Continental Resources sold off leases on 80,000 net acres along with 2,800 BOEPD of production in the Williston Basin to an undisclosed buyer for $222 million...
Higher natural gas volumes and increased fees from Williston Basin producers contributed to ONEOK Partners’ second quarter net income of $261.5 million on $455.8 million in revenues...
Oasis Petroleum cited cost improvements, progress on its 80 Mmcf a day gas processing plant in McKenzie County, and testing of new fracing techniques as it produced 50,315 BOEPD (85% oil) in the first quarter from its Williston Basin wells...
Hess Corp. estimates it has at least 200 potential “core wells” in its Bakken production that could each produce 1 million barrels of crude oil over the life of the well with a 30-day initial production of 1,000 BOPD...
With forecasts predicting that crude oil prices could reach as high as $70 a barrel later this year in the face of severe production declines in North Dakota and Texas, one analyst is predicting that it could be as long as 2017 before hydraulic fracturing service companies could get enough employees back on board...
Facing fines of $887,500, Key Energy Services LLC of Houston is seeking an administrative court hearing, after denying the allegations made in a formal complaint from the North Dakota Industrial Commission that it failed to properly clean up and plug two salt water disposal wells...
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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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...
NDPC Outstanding Service Award
The ND Petroleum Council presented its Outstanding Service Award to Steve Halvorson, president of Wyoming Casing, which is based in Dickinson. “Steve has been a dedicated servant and representative for the industry for decades, helping build relationships within the community through his leadership with the Dickinson API Chapter and participation with the NDPC ‘Oil Can! Events and Teach Seminar’,” said Ron Ness, president of the NDPC. “He is exemplary of the dedication to and passion for the community that this industry seeks in every one of its employees.” Shown here, from left to right are: Eric Dille, chairman of NDPC, Halvorson, Ness, and Jim Arthaud with McKenzie Energy Partners.
Marathon Petroleum Corp. will invest $500 million and also participate as a shipper in the $3.78 billion Dakota Access Pipeline running from North Dakota to Patoka, IL...
Continental Resources well
A lease operator checks on the well pad of Continental Resources’ Bismarck 6-9H near Epping, ND. Continental has a number of well pads in the area.
Donald Trump

Republican presidential nominee Donald Trump gave the following speech to an audience in Bismarck, ND on May 26:

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...
On the heels of a first quarter loss, Whiting Petroleum Corp. of Denver, the Williston Basin’s largest oil producer, said a huge cash infusion by an unnamed investor allows it to continue running two drilling rigs and add a fracing crew...
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