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North Dakota

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  • May 5- The U.S. Securities and Exchange Commission on Tuesday sued three defendants it accused of running a fraud and Ponzi scheme in which they raised more than $62 million from investors eager to benefit from growth in the North Dakota oil industry. According to the SEC, North Dakota Developments LLC and its owners, Robert Gavin and Daniel Hogan, illegally...

  • WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc plans to begin fracking hundreds of wells in North Dakota and Texas later this year if oil prices stabilize around $65 per barrel, executives said on Monday after reporting a better-than-expected adjusted profit. Whiting Petroleum Corp said last week it would add drilling rigs to its...

  • SAN FRANCISCO, May 4- The U.S. Environmental Protection Agency has cited Plains All American Pipeline LP's Bakersfield crude by rail terminal with a series of violations, according to a notice made public on Monday. The EPA notice does not, however, bring operations at the facility to a halt, noted Elizabeth Forsyth, an attorney with environmental group...

  • MDU Resources reports 1Q loss Monday, 4 May 2015 | 6:00 PM ET

    BISMARCK, N.D. _ MDU Resources Group Inc. on Monday reported a first-quarter loss of $305.9 million, after reporting a profit in the same period a year earlier. MDU Resources expects full-year earnings in the range of $1.05 to $1.20 per share. MDU Resources shares have declined almost 6 percent since the beginning of the year.

  • WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc posted a better-than-expected adjusted profit on Monday as hedges and cost cuts helped offset low oil prices. It was the continuation of a theme for U.S. shale oil producers, including Whiting Petroleum Corp and Hess Corp, who have aggressively curtailed spending and relied in varying degrees...

  • May 4- Famed oil trader Andy Hall said the meteoric rise in U.S. oil production has ended, easing a global glut and driving a rebound in crude prices, Bloomberg reported. Oil production from Texas to North Dakota peaked at about 10 million barrels a day in February and has been falling since then, Bloomberg reported, citing Hall's letter to investors of his...

  • SPOKANE, Wash.— Federal investigators say a leaking oil train that hauled crude oil from North Dakota to Washington in January had tank cars with faulty valves, which also are installed on thousands of tank cars nationwide. The Federal Railroad Administration investigated the 100- car BNSF train because it had to have 14 cars with slow leaks removed after...

  • OMAHA, Neb., May 1- The sign for the Nebraska Furniture Mart on Dodge Road in Omaha contains a cartoon of Warren Buffett and a big number "50," a number looming large for Berkshire Hathaway Inc shareholders this weekend as they celebrate the investing legend's half a century running the conglomerate. SELECTED COMPANIES OWNED BY BERKSHIRE Benjamin Moore, Berkshire...

  • COLUMN-Forward oil prices anchor around $75: Kemp Friday, 1 May 2015 | 10:46 AM ET

    LONDON, May 1- Market participants expect the price of Brent to average around $75 per barrel through the rest of the decade, not much above the current level. Spot Brent prices have risen around $20 per barrel from their mid-January low, from $46 to $66, an increase of more than 40 percent. Over the same period, however, futures prices for oil delivered at the end of 2017...

  • US, Canada unveil rules to boost oil train safety Friday, 1 May 2015 | 10:30 AM ET

    The regulations are a long-awaited response to a series of fiery train crashes in the U.S. and Canada, including four so far this year. The most serious accident occurred in July 2013, when a runaway oil train derailed in Lac-Megantic, Quebec, just across the border from Maine, killing 47 people and destroying most of the town's central business district.

  • RPT-U.S., Canada ready oil train safety measures Friday, 1 May 2015 | 7:00 AM ET

    WASHINGTON, May 1- Canada's transport minister will be in Washington on Friday for a joint announcement with her U.S. counterpart aimed at harmonizing safety regulations on shipping crude oil by rail, a politically sensitive issue on both sides of the border. Transportation Secretary Anthony Foxx are expected to demand that railroad companies equip cars...

  • CHICAGO, April 30- The highly pathogenic H5 avian flu turned up in initial tests at five more farms in Iowa, including a commercial egg operation housing up to 5.5 million birds, Iowa's agriculture department said on Thursday. The egg farm's owner, Rembrandt Foods, one of the top U.S. egg producers, confirmed the outbreak but disputed the number of birds affected.

  • CHICAGO, April 30- The highly pathogenic H5 avian flu turned up in initial tests at five more farms in Iowa, including a commercial egg operation housing up to 5.5 million birds, Iowa's agriculture department said on Thursday. Avian flu was "probable" at four other commercial farms in Buena Vista, Sioux and Clay counties, the Iowa Department of Agriculture and Land...

  • April 30- ConocoPhillips, the largest independent U.S. energy company, reported sharply lower quarterly profit on Thursday, hurt by a steep decline in crude oil prices. ConocoPhillips, like other exploration and production companies, has slashed capital spending in response to persistently lower oil prices, and is further reducing its rig count for fields in...

  • The fee would start at $175 and increase to $1,400 per car by 2018. It would raise an estimated $600 million to train first responders, clean up spills and relocate rail tracks around populated areas. Ron Wyden of Oregon told The Associated Press the intent is to offer "market-based" incentives for companies to improve safety. Transportation Secretary Anthony...

  • WILLISTON, N.D., April 30- Whiting Petroleum Corp, the top oil producer in North Dakota, plans to keep 11 drilling rigs operating through 2016, though it would add "a couple of rigs" if crude prices rise to $70 a barrel, its chief executive said on Thursday. Hess Corp, for example, does not plan to add any rigs this year, while Pioneer Natural Resources Co told Reuters last...

  • CHICAGO, April 30- An Iowa-based chicken broiler breeding farm has initially tested positive for the highly pathogenic H5 bird flu, the Iowa Department of Agriculture and Land Stewardship confirmed on Thursday. The facility in Kossuth County, Iowa, houses an estimated 19,000 birds, state officials said. The H5N2 strain has been reported in Arkansas, Idaho, Iowa,...

  • WASHINGTON, April 30- The leading voice for the refining sector on Thursday said it was not realistic for U.S. regulators to expect existing oil train tankers to be retired within five years, and sought a meeting with the National Transportation Safety Board. "The emphasis on tank car modifications through an overly aggressive and infeasible retrofit schedule...

  • North Dakota boardings slump in March but still strong Thursday, 30 Apr 2015 | 9:09 AM ET

    BISMARCK, N.D.— North Dakota airline boardings have dropped for the first time in years and industry officials say slumping oil activity is a likely reason, though not the only one. Passenger numbers at the eight commercial service airports in North Dakota last month dropped a total of 3 percent from March 2014, according to the state Aeronautics Commission.

  • WASHINGTON, April 30- The United States and Canada are expected to present a cross-border plan on Friday to make oil train deliveries safer. For a link to U.S. enforcement actions concerning oil trains, click here: http://tinyurl.com/pzo42ra. -March 11, Canada Transport Minister Lisa Raitt said.