Serving The Bakken And Beyond
Latest Prices

Latest Prices

Upper Rocky Mountain
Spot Crude Oil Prices

WTI and N. Texas: $47.65
CO North Central: $45.91
Colorado Western: $42.87
ND Light Sweet: $29.74
WB Mixed Sweet: $34.40
N Wyo. / S Mont.: $34.70
Wyoming Sweet: $36.24

Spot prices updated Dec. 14

Daily Cash Market
Spot Natural Gas Prices

US Spot Gas Average: $3.770
Henry Hub, Erath, LA: $3.895
N. Border, Watford, ND: $3.505
N. Border, Ventura, IA: $3.575
Chicago Citygate: $3.695
NGPL Midcontinent: $3.295
Cheyenne Hub, CO: $3.425
K. Morgan / CIG, WY: $3.965
Opal, SW Wyoming: $3.895

Spot prices updated Dec. 14

U.S. Rig Count

1071 as of 12/14/2018
-4 from 12/7/2018
+141 from 12/15/2017
(Courtesy Baker Hughes)
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Fossil Hill Resources of Sidney, MT dominated the high bidding on three Roosevelt County tracts, as the Montana state oil and gas lease sale, held on Dec. 4, brought in $485,496 in bonuses, with bids averaging $53.81 an acre.

Leases on 9,023 acres in seven counties were auctioned off by the MT Dept. of Natural Resources and Conservation in Helena...

Missouri River acreage in Dunn County pulled high bidding totaling $1.9 million with the highest bid of $6,000 posted for 15 acres at the Nov. 6 North Dakota oil and gas lease state sale...
Minor modifications of requirements to disclose the composition of chemicals used in hydraulic fracturing were approved by the Montana Board of Oil and Gas Conservation...
House For Sale
On the heels of completing a gas plant in McKenzie County, ND, ONEOK Inc. is building a companion gas plant at a cost of $410 million. The new plant is scheduled to come on line in the first quarter of 2020...
The U.S. Bureau of Land Management has given final approval of the environmental impact statement on a 3,500-gas well project proposed by Jonah Energy in Wyoming’s Powder River Basin...
The ND Industrial Commission gave the okay in August for two unusual drilling units that will cross the North Dakota-Montana state line and will cover 1,021 acres...
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...
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.
QEP Resources, Inc. of Denver sold its Williston Basin assets to Vantage Acquisition Operating Company LLC, also of Denver, for $1.725 billion in cash and common stock...
API Award
Bob Reynolds from KLX Energy received the Outstanding Individual Award from the Williston Basin Chapter of the API at its annual awards banquet earlier this month. He worked for several oil service companies before starting up Basin Tools in 1979. Reynolds is recognized among friends and colleagues for putting the needs of others before his own, and for taking care of the people he works with. His commitment, loyalty, honesty, and integrity are the qualities that make him a leader in the community.
Efforts by environmental groups to put the Meridian Energy Group refinery at Belfield under the jurisdiction of the ND Public Service Commission were thwarted by an administrative law judge...
Stepped-up North Dakota crude oil production—which is nearing 1.3 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...
NOG Buys More WB Assets

Northern Oil and Gas Inc. paid $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.

NOG made the initial announcement of the transaction on July 18, and the transaction closed Septemer 18. The location and number of wells have not yet been disclosed.

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 first year.

“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,” NOG president Mike Reger commented in July.

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