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Top News & Analysis North Dakota

  • NEW YORK, Jan 17- U.S. shale oil production is expected to rise by 41,000 barrels per day in February to 4.748 million bpd as energy firms boost drilling with crude prices near 18- month highs, according to data from the U.S. Energy Information Administration on Tuesday. Permian output in West Texas and eastern New Mexico is set to rise by 53,000 bpd to 2.180 million...

  • MIDLAND, Texas, Jan 17- Exxon Mobil Corp said on Tuesday it will pay up to $6.6 billion to double its holdings in the Permian Basin of west Texas and New Mexico, the largest oil field in the United States. Exxon is exchanging an initial $5.6 billion in stock for leases covering roughly 275,000 acres from the Bass family of Fort Worth, Texas. Most of the wells to be drilled...

  • LONDON, Jan 17- U.S. petroleum producers are looking forward to better times in 2017 as the industry has passed the low-point in the cycle and embarked on the road to renewed expansion. U.S. oil output was essentially flat between July and October 2016, after sliding between April 2015 and June 2016. More than half of all the new rigs have been added in the Permian...

  • The site of the $3.8 billion project in southern North Dakota had been the scene of demonstrations by Native Americans and environmentalists, who say the pipeline would damage sacred lands and any leaks could pollute the water supply of the Standing Rock Sioux tribe. But in early December the U.S. Army Corps of Engineers denied a key easement needed to allow the...

  • *BofA, Wells Fargo, JPMorgan post profit above estimates. Jan 13- An increase in Facebook pushed the Nasdaq to a record high on Friday, and the S&P 500 also rose after major U.S. banks kicked off the fourth-quarter earnings season with strong results. Wall Street has surged since President-elect Trump's unexpected election victory on optimism he will cut...

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Comptroller of the Currency and the Consumer Financial Protection Bureau in September over charges that its employees created as many as 2 million accounts without customers' consent.

  • *BofA, Wells Fargo, JPMorgan post profit above estimates. Jan 13- The S&P 500 rose on Friday after major U.S. banks kicked off the fourth-quarter earnings season with strong results, helping fuel confidence about a recent market rally. Wall Street has surged since President-elect Trump's unexpected election victory on optimism he will cut corporate taxes, spend...

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Comptroller of the Currency and the Consumer Financial Protection Bureau in September over charges that its employees created as many as 2 million accounts without customers' consent.

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with the Los Angeles City Attorney, the U.S. Chief Executive Timothy Sloan- who took over after John Stumpf resigned in the wake of the scandal- said he was pleased with the progress the bank has made in customer remediation, as well as its...

  • The San Francisco- based bank has been dealing with multiple lawsuits and a sharp drop in account openings after it settled with regulators in September over charges that its employees created 2 million accounts without customers' consent. Net income applicable to shareholders fell 6.4 percent to $4.87 billion, or 96 cents per share, in the fourth quarter, from...

  • Jan 13- U.S. stock index futures gave up some gains on Friday after disappointing quarterly reports from Bank of America and Wells Fargo. Wells Fargo was down 1 percent at $53.95 after it reported a fall in profit and its revenue fell short of market expectations. "There is a lot of optimism regarding the financial sector but any kind of cautious statement from them...

  • Net income applicable to shareholders fell 6.4 percent to $4.87 billion, or 96 cents per share, in the fourth quarter ended Dec. 31, from $5.20 billion, or $1.00 per share, a year earlier. Excluding items, the bank earned $1.03 per share, beating the average analyst estimate of $1.00 per share, according to Thomson Reuters I/B/E/S. The results were for the first full...

  • Jan 13- North Dakota Governor Doug Burgum, who took office last month in the height of tensions surrounding the Dakota Access Pipeline, said he believed the line would eventually be built and asked opponents to clean their protest camp before spring floodwaters create a potential ecological disaster. Burgum told Reuters that approval of the pipeline...

  • NEW YORK, Jan 12- U.S. East Coast refiners are in the midst of their biggest buying spree of Algerian crude in years as they take advantage of cheap oil spilling out of the region, traders said on Thursday. The surge also comes as U.S. East Coast refiners have all-but abandoned domestic crude via rail out of North Dakota in favor of waterborne imports following the...

  • NEW YORK, Jan 12- Is your money vice too many movies? For Barak Kassar, a 50- year-old businessman in San Francisco, it was Uber that broke the bank in 2016. For Lyn Alden, a 29- year-old financial analyst based in Atlantic City, New Jersey, it was Chipotle, where she had spent more than $1,000 in a year.

  • *Existing line already faces challenges in Michigan. CALGARY, Alberta, Jan 11- Enbridge Inc may be set for a bruising legal battle in Wisconsin after a Native American tribe voted against renewing land use agreements on a major crude oil pipeline, potentially shutting down a conduit that has been in operation since the 1950 s, legal experts said.

  • "This opportunity is unique, maybe once in a lifetime," said Jack Gerard, president of the Washington D.C.- based American Petroleum Institute lobby group, referring to prospects for increased access to federal leases. "It would only take one serious mistake- one well to go bad- for our town's water supply to be damaged," said Josh Ewing, the leader of a southern Utah...

  • Jan 10- Wells Fargo& Co has unveiled a new compensation structure for branch bankers as it tries to recover from a scandal driven by aggressive sales targets that slammed its share price and led to the resignation of Chief Executive John Stumpf. The new plan creates incentives based on customer service rather than sales goals, is longer-term in nature and...

  • CALGARY, Alberta, Jan 9- A Native American tribe in Wisconsin has voted against renewing agreements allowing Enbridge Inc to use their land for a major crude oil pipeline, the latest sign of increasing opposition to North American energy infrastructure. "We are surprised to learn of the Bad River Band's decision not to renew individual easements within the...

  • Jan 5- A rise in technology stocks helped the Nasdaq eke out small gains on Thursday but was not enough to pull the S&P 500 and the Dow into the black as banks stocks weighed. U.S. stocks rallied for nearly two months since Donald Trump's victory in the presidential election in November, taking the Dow tantalizingly close to the historic 20,000 mark.