Friday, January 10, 2025
North Dakota Production

North Dakota Gas Production, Producing Wells Break Records set Last Month

1,854 MMcf/d produced in May The North Dakota Industrial Commission released its latest Oil and Gas Production Report today, outlining hydrocarbon activity in the state for May 2017. 13,876 wells producing The NDIC reported that oil production fell in May, averaging 1,040 MBOPD. This is down slightly from the 1,050 MBOPD produced in North Dakota in April. 95% of all

It’s Official: Saudi Arabia will Reduce Oil Exports to the U.S. to Boost Oil Prices

4-week average imports down 30% from May U.S. imports of oil from Saudi Arabia are falling fast, as the kingdom seeks a new way to prop up disappointing oil prices. One of the main stated goals of OPEC’s production cuts is to decrease global inventories, which are still well above historical averages. These large inventories weigh heavily on oil prices,

CONSOL Energy Breaking into Separate Coal and Nat. Gas Companies

CONSOL Energy (ticker: CNX), a Pittsburgh based coal mining and natural gas exploration company plans to split the corporation into two separate companies, one focusing on natural gas exploration and production, the other focusing on coal mining. The company’s Pennsylvania Mining Complex, which is comprised of the Bailey, Enlow Fork, and Harvey mines as well as a coal preparation plant,

U.S. Rig Count Unchanged, Canada adds 16

Permian grows to 373 rigs The U.S. rig count was unchanged this week, seemingly signaling a response to lowering oil prices, according to Baker Hughes’ Weekly Rig Count. The total number of rigs active in the U.S. is still 952, the same as last week. However, one land rig came online and one inland waters rig shut down, giving a

Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million.

API Clocks 81% Increase in Oil Well Completions

According to a report from the American Petroleum Institute this week, estimated total wells drilled and completed in the second quarter of 2017 increased 62 percent compared to the second quarter of 2016. This includes a 41 percent increase in estimated development gas well completions and a dramatic 81 percent increase in total estimated oil well completions from year-ago levels,

Investment Pouring Into Vehicle Tech – Focus Centers on Autonomy

From The Fuse Global investment in auto-tech firms totaled $1.6 billion for the first half of 2017, more than double the same time last year. Venture capital is pouring into the vehicle technology, with increased attention on autonomy. The pace has picked up steam this year as traditional car companies move resources to autonomy, policymakers at the federal and state