Top News & Analysis North Dakota

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  • The company, based in Laval, Quebec, said it would release unaudited earnings on Feb. 29 and hold a conference call. In addition, Wells Fargo on Friday initiated coverage with an "underperform" rating and a valuation of $65 to $68 per share. Wells Fargo analyst David Maris said on Tuesday in a follow-up note that the restatement could unsettle investors.

  • Valeant shares, which were trading at $82.71 on Tuesday morning, fell more than 19 percent on Friday and Monday after Wells Fargo initiated coverage with an "underperform" rating and a valuation of $65 to $68 per share. Wells Fargo analyst David Maris said on Tuesday in a follow-up note that the restatement could unsettle investors. Evercore ISI analyst Umer...

  • Feb 22- A federal appeals court endorsed a Colorado law designed to make it easier for the state to collect sales taxes on out-of-state purchases made over the Internet. Monday's decision by the 10th U.S. Circuit Court of Appeals in Denver reversed a lower court ruling that blocked Colorado from enforcing its so-called "Amazon tax" law, named for online retailer...

  • Feb 22- A federal appeals court endorsed a Colorado law designed to make it easier for the state to collect sales taxes on out-of-state purchases made over the Internet. Monday's decision by the 10th U.S. Circuit Court of Appeals in Denver reversed a lower court ruling that blocked Colorado from enforcing its so-called "Amazon tax" law, named for online retailer...

  • Feb 22- When Sheikh Ali Khalifa al-Sabah of Kuwait thinks about today's plunging oil prices, his mind drifts back to the mid-1980s, when he was forced to sell some of his country's crude for as little as $5 a barrel. As Kuwait's oil minister at the time, Sheikh Ali had to sell a cargo or two at that price just to keep up cash flow to a country that depended upon oil revenues.

  • CALGARY, Alberta, Feb 19- Enbridge Inc, Canada's largest pipeline company, reported a higher-than-expected quarterly profit on Friday and said it will defer C $5 billion in spending from this year and next until 2018 due to project delays. Shares of Enbridge, whose customers have been hard hit by the collapse of crude oil prices, fell 1.1 percent to C $42.92 on the...

  • Feb 19- Enbridge Inc, Canada's largest pipeline company, reported a higher-than-expected quarterly profit and said it would defer C $5 billion in capital expenditure planned for this year and the next to 2018 as two pipelines are delayed. Enbridge's U.S. arm, Enbridge Energy Partners LP, said on Tuesday the Sandpiper and Line 3 replacement pipeline projects to...

  • The battle between Saudi Arabia and the shale producers has been a war of attrition in which progress has been slow so far. Even after oil prices began falling in June 2014, U.S. production continued to increase by another 1 million barrels per day. Between June 2014 and its peak in April 2015, oil output rose from an estimated 8.7 million bpd to 9.7 million bpd,...

  • Feb 17- North Dakota's oil output fell nearly 3 percent in December, the biggest monthly drop in almost a year, the first real sign that the deepening rout in prices took an ever bigger toll on producers in the birthplace of the U.S. shale boom. "Producers anticipate prices staying much lower for longer than what was expected even six months ago," said Lynn Helms,...

  • Feb 17- North Dakota's energy regulator said on Wednesday he is worried about hedge funds and other investment groups buying oil assets in the state and conducts background checks on potential acquirers. Lynn Helms, head of North Dakota's Department of Mineral Resources, said he is worried some buyers might have a lack of experience running oil or natural gas...

  • Feb 17- North Dakota's oil output fell nearly 3.0 percent in December, the first drop in three months and a sign producers have finally begun to curb output in the wake of a more-than 70 percent plunge in crude prices. "Producers anticipate prices staying much lower for longer than what was expected even six months ago," said Lynn Helms, director of North Dakota's...

  • Feb 17- North Dakota's oil output fell in December for the first time in three months, as producers reined in their wells and drilled less in a reaction to the plunge in crude prices. Continental Resources Inc and Hess Corp, North Dakota's second- and third-largest oil producers respectively, each slashed their 2016 budgets last month for the second straight year.

  • WASHINGTON, Feb 10- The U.S. power sector's shift toward burning less coal and using more natural gas and renewable energy will not be derailed by the Supreme Court ruling against the Obama administration's limits on carbon emissions, state regulators and utilities said on Wednesday. The U.S. Supreme Court decided 5-4 on Tuesday to block the Environmental...

  • *Britain's BP bets on Egyptian gas, Shell on major acquisition. LONDON/ HOUSTON, Feb 7- As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Britain's BP is betting on offshore gas in Egypt, while Royal Dutch Shell has opted for an alternative route...

  • WASHINGTON, Feb 5- Barack Obama might seem an unlikely investor in the firearms industry. Since Obama was elected in 2009, mutual funds have raised their stakes to about $510 million from $30 million in the nation's two largest gun manufacturers with publicly traded shares, Smith& Wesson Corp and Sturm, Ruger& Co. The White House declined to comment on Obama's...

  • LONDON, Feb 4- The number of people employed in oil and gas extraction and support activities across the United States has fallen by around 100,000 since October 2014. Between October 2014 and November 2015, the number of people on the payroll of oil and gas extraction firms and support services fell by almost 87,000, according to the U.S. Bureau of Labor...

  • Attorney Preet Bharara's office, was among a series of cases against banks following the financial crisis stemming from mortgages insured through a program by the Federal Housing Administration. Wells Fargo said the settlement was reached on Feb. 1 and would also resolve claims by the U.S. Attorney's Office in San Francisco and the U.S. Department of Housing...

  • HOUSTON, Jan 29- Phillips 66 may consider increasing its 25 percent stake in Energy Transfer Partners' pipeline project to move North Dakota Bakken oil to Illinois and Texas, but likes its current commitment as is, President Tim Taylor told analysts on Friday. The project involves two legs: the new 1,168- mile North Dakota- to-Illinois Dakota Access Pipeline; and...

  • Gulf of Mexico output fell 57,000 bpd, while onshore production inched up 3,000 bpd in Texas and rose 5,000 bpd in North Dakota, broadly in line with previously reported state data. Some analysts believed the data is not necessarily a reflection of the current supply landscape, saying the Gulf of Mexico output was lower in November but still higher year over year.

  • Drillers removed 12 oil rigs in the week ended Jan. 29, bringing the rig count down to 498, the least since March 2010, oil services company Baker Hughes Inc said. Three major U.S. shale oil companies this week slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with Continental Resources saying prices would need...