Serving The Bakken And Beyond
Latest Prices

Latest Prices

Upper Rocky Mountain
Spot Crude Oil Prices

WTI and N. Texas: $62.36
CO North Central: $60.39
Colorado Western: $56.20
ND Light Sweet: $59.15
WB Mixed Sweet: $58.82
N Wyo. / S Mont.: $59.26
Wyoming Sweet: $60.90

Spot prices updated Aug. 17

Daily Cash Market
Spot Natural Gas Prices

Henry Hub, Erath, LA: $2.97
N. Border, Watford, ND: $2.59
Chicago Citygate: $2.89
CIG Rocky Mtn., WY: $2.46
NW Wyoming Pool: $2.59
Opal, SW Wyoming: $2.62

Spot prices updated Aug. 17

U.S. Rig Count

1057 as of 8/17/2018
+0 from 8/10/2018
+111 from 8/18/2017
(Courtesy Baker Hughes)
General Equipment - Help Wanted
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Dakota Access Pipeline

Stepped-up North Dakota crude oil production—which has now surpassed 1.2 million BOPD, and could reach 1.5 million BOPD by the end of the year—is putting pressure on Dakota Access Pipeline to expand its capacity.

While the company did not provide a timeline for the work, top executives say they want to increase capacity by another 100,000 BOPD, which could mean adding additional compressor stations...

The continued delays in getting right-of-way approval on the Fort Berthold Indian Reservation is one of several issues plaguing ND operators, who were forced to cut back on production in June to comply with statewide flaring restrictions.

“Industry has tapped the brakes,” Helms said after reporting the June oil production dropped 2% from May to 1,225,510 BOPD...

Citing high well performance in the Williston Basin, Whiting Petroleum of Denver saw total operating revenues exceed street estimates at $526.4 million for the second quarter of 2018, with cash flow exceeding capital spending by $107.2 million...
Despite protests, the Minnesota Public Utilities Commission gave the go-ahead to Enbridge to replace its existing crude oil feeder pipeline coming from Canada to St. Paul refineries...
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...
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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.
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NOG Buys More WB Assets

Northern Oil and Gas, Inc. is paying $68.4 million in cash and 25.75 million shares of common stock for North Dakota wells producing 4,100 BOPD from Pivotal Petroleum Partners.

The location and number of wells were not identified.

The agreement contains a mechanism for potential additional consideration to be paid during the 13-month lock-up period if Northern’s common stock trades below certain price targets.

NOG expects the newly acquired wells will generate $56 million over the next 12 months.

“This transaction in the core of the Williston Basin is transformative for Northern, with both strong free cash flow and a high rate of return,” said NOG president Mike Reger.

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...
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