bakken – Oil & Gas 360

Empire Petroleum doubles revolver loan commitment to support North Dakota production

November 27, 2024

(World Oil) – Empire Petroleum Corporation announced that it has entered into an amendment to its Revolver Loan Agreement with Equity Bank, increasing the total principal commitment to $20.0 million, up from an initial $10.0 million through December 29, 2026. Currently, Empire has approximately $8.4 million borrowed on the $20.0 million facility. The loan is secured by assets from two of

Exxon plans to sell percentage of shale assets in Bakken formation

October 17, 2024

(World Oil) – Exxon Mobil Corp has announced plans to sell a portion of its assets in North Dakota’s Bakken shale formation, according to Reuters. Top oil producers are strategically reevaluating their asset portfolios in the wake of several big mergers in U.S. shale patches. “ExxonMobil is exploring market interest for select assets in the Bakken Shale Play, which includes approximately 137

Permian, Bakken drilling rigs spur “record” U.S. oil production forecast on longer laterals

August 29, 2024

World Oil (Bloomberg) – Oil rigs in the Permian and Bakken basins of the U.S. are producing at the most efficient rates in about 13 years, leading Macquarie Group analysts to predict the country’s crude production will top most consensus views. Rigs in the Midland basin of Texas and New Mexico drilled an average of 47 miles of horizontal lateral

Silver Hill Energy Partners enters Bakken with Liberty Resources acquisition

February 2, 2024

World Oil WO) – Silver Hill Energy Partners, LP has signed definitive agreements with Liberty Resources II, LLC to acquire Liberty’s interests in oil and gas properties, rights and related assets in North Dakota. Acquisition highlights. Silver Hill Energy Partners will acquire Liberty’s producing assets in North Dakota’s Bakken region, where Libery’s net production in December 2023 was approximately 13,000 boed

Chevron to increase Guyana, Bakken shale production with $53 billion Hess acquisition

October 23, 2023

World Oil (WO) — Chevron Corporation has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt,

Exxon weighs Bakken asset sale after getting interest

March 11, 2022

World Oil (Bloomberg) — Exxon Mobil Corp. is considering a sale of assets in North Dakota’s Bakken shale after being approached by interested parties, according to people with knowledge of the matter. The oil giant could get about $5 billion for the Bakken assets, said the people, who asked not to be identified because they weren’t authorized to speak. Exxon

Oil-trading giant Vitol eyes shale expansion with new venture

February 3, 2022

World Oil (Bloomberg) — Vitol Group, the world’s largest independent oil trader, is partnering with shale specialists who formerly led Brigham Exploration Co. to expand amid the highest crude prices in seven years. The trader and Austin, Texas-based driller ATX Energy Partners LLC formed VTX Energy Partners LLC to acquire wells in the Permian and Bakken shale regions, according to

Hess unveils US$2.6B budget for 2022; majority to be invested in Guyana, Bakken

January 26, 2022

Oil Now U.S. energy company Hess Corporation revealed on Monday that it has allocated a whopping US$2.6B towards its 2022 Exploration and Production budget. Interestingly, the American explorer said the majority of this expenditure will go towards projects in Guyana and the Bakken. Hess said the $2.6 billion budget is allocated as follows: US$1,150 million (44%) for production, US$1,000 million (39%) for offshore Guyana developments and US$450 million (17%) for exploration and

Pipeline doubts put Bakken shale reboot on hold

July 29, 2020

Reuters Publisher’s Note: Northern Oil and Gas will be presenting at The Oil and Gas Conference on August 17-19, 2020, 1 x 1 investor meetings are open, schedule your meeting with NOG now. North Dakota oil producers face new pressures to delay bringing back more of their recently curbed output after a U.S. court ruling this month put in jeopardy

Differential Price Recovery: How Regional Forces Are Bringing Benchmark Prices Back Towards Equilibrium

June 10, 2020

RarePetro Oil & Gas Publishers Note: Another great industry insight article from Kevin Olson at RarePetro. Abstract Financial markets attempted to buoy benchmark prices as oil and gas markets became volatile in Q1 2020. This created a disconnect in the price spreads between the NYMEX WTI futures benchmark and regional spot prices. The disconnect continued to grow at the beginning

EIA Drilling Productivity Report – April 2020

April 13, 2020

President and CEO of Panhandle Oil and Gas Resigns

August 27, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Paul F. Blanchard Jr. steps down as president, CEO and director of Panhandle Oil and Gas Panhandle Oil and Gas (stock ticker: PHX), a mineral and leasehold acreage-focused capital allocator, has announced that Paul F Blanchard Jr., the company’s president, chief operating officer and a member of its board of directors,

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