Serving The Bakken And Beyond
Latest Prices

Latest Prices

Upper Rocky Mountain
Spot Crude Oil Prices

WTI and N. Texas: $44.41
CO North Central: $41.16
Colorado Western: $38.41
ND Light Sweet: $39.19
WB Mixed Sweet: $38.34
N Wyo. / S Mont.: $38.49
Wyoming Sweet: $40.13

Spot prices updated May 24

Daily Cash Market
Spot Natural Gas Prices

Henry Hub: $1.80
Watford City, ND: $1.36
Chicago Citygate: $1.81
CIG Rocky Mtn: $1.55

Spot prices updated May 24

U.S. Rig Count

402 as of 5/20/2016
-2 from 5/13/2016
-481 from 5/22/2015
(Courtesy Baker Hughes)
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The Montana Board of Oil and Gas Conservation will consider imposing small fines against eight operators for failing to either plug wells or file administrative reports when it meets June 15 and 16 in Billings.

K2 America Corp and Stealth Energy USA Inc. both face bond forfeitures for failing to plug abandoned wells. Hawley Oil Co., Kykuit Resources LLC, Shadwell Resources Groups LC, Storm Cat Energy (USA) Operating Corp., Stratex Oil and Gas Inc., and Tyler Rockies Exploration Ltd. all face small fines for not filing production reports...

Continental Resources paid a high bonus of $15,198/acre for leases on 47 acres in McKenzie County at the ND online oil and gas lease sale. The sale ended May 10, and netted a total of $1.5 million.

Continental’s high bid was in the Sec. 18, T153N-R93W in the Missouri River and totaled $714,306.

For complete results of the sale conducted by the ND Dept. of Trust Lands, see the May 12 edition of Oil Patch Hotline.

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...
North Dakota’s oil production dropped 22,283 BOPD in March, but associated natural gas production reached an all-time high of 1,709,773 Mcf a day, according to new figures released May 12 by the ND Dept. of Mineral Resources...
Surplus Oilfield Equipment
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...
House For Sale
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...
As it works to cut costs, MDU Resources said it could lose up to $25 million this year from the operation of the Dakota Prairie Refinery in Dickinson, which came on line last May...
A man camp operator, Black Gold Oilfield Services LLC, lost its court battle to prevent the City of Williston from closing its 322-room facility...
The Wyoming Oil and Gas Conservation Commission implemented new changes in drilling permit applications and fees, including requirements for $100,000 blanket bonds and individual wells bonds at the rate of $10 a foot...
More than two dozen industry leaders, including Continental Resources’ CEO, will speak at the Williston Basin Petroleum Conference in Bismarck on May 24-26...
ONEOK Partners plans a 2016 capital spending program of $460 million and anticipates volume growth of 27% in the Williston Basin, with the connection of new pipelines and gas plants...
Whiting Petroleum of Denver and Oxy USA led operators in selling off producing oil wells in North Dakota, and 710 well sales so far have brought nine new operators into the Bakken play...
Above: A video presentation about understanding North Dakota’s well count. For more detailed information, click here.
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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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...
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...
As crews from Matrix Service Company moved forward on construction of the first of six crude oil loading terminals in North Dakota, a top state official said the $3.78 billion Dakota Access Pipeline should be completed by the end of this year...
The top executive for Nuverra Environmental Solutions, Mark Johnsrud, told employees that he cut his own pay to $1 this year as a “tangible expression of my confidence in our future”...
$125 Million Pipeline Okayed
Paradigm Project
The ND Public Service Commission has approved a new 70-mile crude oil pipeline carrying up to 200,000 BOPD that will run 70 miles from Keene to the Phillips66 crude oil rail terminal at Palermo. Extra measures have been put in place for pipeline monitoring, as the 16-inch pipe will go 100 feet under the bed of Lake Sakakawea. “We reviewed this project very closely, and the company committed to high standards of construction, operation, and reclamation; including and especially in regard to the crossing of Lake Sakakawea,” said Julie Fedorchak, chairman of the NDPSC.
Because of market conditions, Nuverra Environmental Solutions said it has reached a mutual agreement with XTO Energy, Inc. to stop its contract for providing midstream services...
Lengthy delays in approving drilling permits on federal land in North Dakota have caused financial harm to a state agency, the ND Dept. of Trust Lands, according to State Land Commissioner Lance Gaebe...
Although QEP Resources, Inc. of Denver reported a lower net income of $21.1 million, it saw a 3% production increase in its Williston Basin holdings, to 54,000 BOEPD in the third quarter after completing 24 gross wells...
CHS Inc., which is in the middle of a $400 million upgrade at its Laurel, MT crude oil refinery, said contracts have been let to build a 55,000 BPD hydrogen plant there...
Wyoming’s oil and gas industry gave reluctant approval to upping well bond and drilling permit fees, and questioned other provisions of proposed rules from the Wyoming Oil and Gas Conservation Commission...
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