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North Dakota

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  • Goldman cuts 3- month Brent forecast to $42 from $80. "I figured we'd see $40 in the near term, but everything seems to be happening quicker than expected," Tariq Zahir of Tyche Capital Advisors. The bank cut its three-month forecasts for Brent to $42 a barrel from $80 and for the U.S. futures contract to $41 from $70.

  • WILLISTON, N.D., Jan 12- The number of drilling rigs operating in North Dakota's oil fields fell to 159 on Monday, the lowest level since November 2010 and the latest reaction to falling crude oil prices, according to state data. The number, which is tracked closely throughout North Dakota, comes after Continental Resources Inc, Oasis Petroleum Inc and other...

  • WASHINGTON, Jan 12- The Senate will start debate on Monday on a bill to approve the Keystone XL oil pipeline as Republicans, who have made the project their first priority of the year, try to line up enough votes to overcome a potential veto by President Barack Obama. Senator John Hoeven of North Dakota, a co-sponsor of the bill to approve TransCanada Corp's pipeline,...

  • North Dakota rig count at lowest level since Nov 2010 Monday, 12 Jan 2015 | 11:29 AM ET

    WILLISTON, N.D., Jan 12- The number of drilling rigs operating in North Dakota's oil fields fell by eight overnight to 159, the lowest level since November 2010, according to state data. Plunging crude oil prices, alongside technological and drilling efficiencies, have led oil producers to use fewer rigs. The rig count, reported daily by the North Dakota Department...

  • LONDON, Jan 12- More than 22,000 wells have been drilled in North Dakota since oil was discovered in 1951, but over half of state production comes from around 4,000 wells drilled since the start of 2013.. By the end of Oct 2014, there were nearly 11,900 wells producing oil and gas in the state. The remaining 30 percent are legacy wells, mostly from before 2005, but they...

  • NEW YORK, Jan 12- With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month. "Things have changed a lot quicker than I thought they would," says Greg Doramus, sales manager at Orion Drilling in...

  • WILLISTON, N.D., Jan 12- A stark breakdown from North Dakota projecting how falling oil prices could affect production was formulated using proprietary corporate data and a state official's personal model. Late last Thursday, the Department of Mineral Resources caused a stir in world oil markets by releasing slides from a presentation to the state...

  • NEW YORK, Jan 12- With nearly a quarter of U.S. energy shares' value wiped out by oil's six-month slide, investors are wondering if the sector has taken enough punishment and whether it is time to pile back in ahead of earnings reports later this month. "Things have changed a lot quicker than I thought they would," says Greg Doramus, sales manager at Orion Drilling in...

  • WASHINGTON, Jan 11- Sarah Feinberg, the U.S. secretary of transportation's chief of staff, will lead the nation's railroad regulator as the department works to finalize oil train safety rules, according to an agency email sent on Sunday. Feinberg has also pushed Congress to replenish the Highway Trust Fund, a $302 billion federal kitty meant to finance road...

  • HOUSTON, Jan 9- New oil and gas well permits issued across the United States rose slightly in December and surged 72 percent in Colorado and Wyoming after falling sharply in November on tumbling crude prices. New permits plunged nearly 40 percent in November compared to October, signaling a potential slowdown in the shale oil and gas boom that brought the United...

  • REUTERS-BUSINESSS-NEWS-SCHEDULE AT 1600 GMT/11 AM ET Friday, 9 Jan 2015 | 11:05 AM ET

    Nebraska Supreme Court backs Keystone XL pipeline route. WASHINGTON, Jan 9 (Reuters)- A divided Nebraska Supreme Court approves a route for the Keystone XL oil pipeline across the state and clears the way for President Barack Obama to settle the politically charged issue. ( USA- KEYSTONE/), moving shortly, by Aruna Viswanatha and Patrick Rucker, 520 words).

  • Department of Mineral Resources Director Lynn Helms outlined breakeven rates for wells across the state and production projections for a range of prices in a presentation for the House Appropriations Committee of the State Legislature. Breakeven rates for new wells, the level at which all drilling would cease, range from $29 in Dunn county and $30 in...

  • Department of Mineral Resources Director Lynn Helms outlined breakeven rates for wells across the state and production projections for a range of prices in a presentation for the House Appropriations Committee of the State Legislature. Breakeven rates for new wells, the level at which all drilling would cease, range from $29 in Dunn county and $30 in...

  • Jan 8- The drop in oil prices is putting money in consumers' pockets and is "a good thing, basically" for the U.S. economy, Minneapolis Fed President Narayana Kocherlakota said at a town hall at his bank's headquarters. At the same time, he said, the oil price decline will put downward pressure on drilling and on production in North Dakota, where the local economy has been...

  • NEW YORK, Jan 8- Sue Ann Arnall, the ex-wife of Oklahoma oil magnate Harold Hamm, has deposited a handwritten $975 million divorce check, Hamm's lawyer said on Thursday, in a move that may end an epic divorce battle over a fortune worth billions. In the November ruling by an Oklahoma County Court judge, Hamm, the chief executive of Continental Resources was allowed to...

  • UPDATE 1-Halcon Resources cuts 2015 spending again Thursday, 8 Jan 2015 | 6:06 PM ET

    Jan 8- Oil and gas producer Halcon Resources Corp said it would further cut its drilling and completion budget for 2015, responding to the continuing fall in oil prices. Halcon said on Thursday it now expected to spend between $375 million to $425 million, down from its earlier forecast of $750 million to $800 million. The midpoint of the earlier forecast on Nov. 10...

  • Halcon Resources cuts 2015 spending again Thursday, 8 Jan 2015 | 4:44 PM ET

    Jan 8- Oil and gas producer Halcon Resources Corp said it would further cut its drilling and completion budget for 2015, responding to the continuing decline in oil prices. Halcon said on Thursday it now expected to spend between $375 million to $425 million, down from its earlier forecast of $750 million to $800 million. The company, which operates in the Bakken...

  • These 2 U.S. drillers have 'great rocks': Analyst Thursday, 8 Jan 2015 | 3:09 PM ET
    Workers connect drill bits and drill collars on Endeavor Energy Resources’ Big Dog Drilling Rig 22 in the Permian basin outside of Midland, Texas, Dec. 12, 2014.

    Investors who believe in a long-term recovery in oil prices should look to exploration and production companies, said David Tameron.

  • WASHINGTON, Jan 8- The treasuries of U.S. states with large energy sectors are swinging wildly from full to empty as oil prices take unexpected turns, a new report released on Thursday by the Pew Charitable Trusts shows. North Dakota follows, alongside Vermont, at 11.6 percent. In 2013 severance taxes made up 39.7 percent of Wyoming's revenue and 46.4 percent of...

  • WASHINGTON, Jan 8- U.S. Senate Republicans on Thursday advanced a bill to approve construction of the Keystone XL oil pipeline, their top priority in a new campaign to push back President Barack Obama's policies now that they fully control Congress. The Republican-led Senate Energy Committee approved the measure on a 13-9 vote, sending it to the full Senate for...