Serving The Bakken And Beyond
Latest Prices

Latest Prices

Upper Rocky Mountain
Spot Crude Oil Prices

WTI and N. Texas: $65.03
CO North Central: $62.79
Colorado Western: $56.83
ND Light Sweet: $59.69
WB Mixed Sweet: $60.54
N Wyo. / S Mont.: $60.28
Wyoming Sweet: $61.92

Spot prices updated June 22

Daily Cash Market
Spot Natural Gas Prices

Henry Hub, Erath, LA: $2.94
N. Border, Watford, ND: $2.52
Chicago Citygate: $2.71
NGPL Midcont., TX/OK: $1.97
NW Wyoming Pool: $1.90
Opal, SW Wyoming: $1.98

Spot prices updated June 22

U.S. Rig Count

1052 as of 6/22/2018
-7 from 6/15/2018
+111 from 6/23/2017
(Courtesy Baker Hughes)
General Equipment - Help Wanted
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Denbury Targets Eastern Montana For CO2 Oil Recovery

Denbury Resources, Inc. of Plano, TX will spend $150 million to extend its CO2 feeder line running 110 miles from its Bell Creek Field in southeastern Montana north to Fallon County, where it hopes to initially recover 30 million barrels of crude oil.

This is the first phase of a two-phase development, in which Denbury hopes to recover 400 million barrels by late 2021.

Denbury’s ownership covers 175,000 acres stretching 125 miles across Montana, North Dakota, and South Dakota.

The company plans on a capital investment of $400 million over 15 years. It expected initial production to range between 7,500 barrels and 12,500 barrels within three years of first production.

“The decision to sanction this significant project marks a major milestone for the company, and highlights our confidence in the significant long-term oil production and cash flow potential of this key asset,” said Denbury president and CEO Chris Kendall.

“Over the last few years, the Denbury team has worked diligently to prepare this project for executive capitalizing on our fast EOR experience, and I am proud of all the efforts that made the sanctioning of this project possible.”

Funding for the project will come from available cash flow. Phase 2 will start in 2022 and will target about 100 million barrels of recoverable oil in the Interlake, Stony Mountain, and Red River formations at the Cabin Creek Field.

Denbury sources carbon dioxide from Wyoming’s LaBarge Field, and its ownership is about 1.2 Tcf of proved CO2 reserves. It also buys as much as 50 MMcf a day from the ConocoPhillips Lost Cabin gas plant in Wyoming.

Denbury Resources Tertiary Production
Efforts by Interior Secretary Ryan Zinke to rescind a last-minute regulation by the Obama administration, which imposed pages of venting and flaring regulations on oil and gas producers, was lauded by Ron Ness, president of the ND Petroleum Council...
XTO Energy, Inc. agreed to pay a $320,000 fine and install vapor control system improvements on its oil and gas storage tanks on the Fort Berthold Reservation, as part of a settlement with the U.S. Environmental Protection Agency and Dept. of Justice over violations of the Clean Air Act...
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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.
Subscribe to Oil Patch Hotline by clicking here, or reach us by phone/text message at 407-463-2237.
Empire Oil Co. of Williston grabbed the high bid at $600 an acre in Richland County, at the Montana state oil and gas lease sale on June 5, which brought in $470,980 with bids averaging $27/acre for leases covering 17,039 acres in six counties...
New wells in the Keene area of the Williston Basin are providing an oil bonanza for Hess Corporation as its first quarter production in the Bakken soared 12% to 111,000 BOEPD from 99,000 BOEPD for the same quarter in 2017...
Strong shipper support with 20-year commitments to move 500,000 barrels of crude oil per day has been received by TransCanada Corp. for its proposed $8 billion Keystone XL Pipeline...
Citing profits and accelerated production from Williston Basin wells, Continental Resources reported bigger cash payouts, with new wells having an estimated ultimate recovery averaging 1.1 million BOE. Bakken production increased 14% over the second quarter to 136,851 BOEPD...
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