Tag: Bakken Basin

US Lower 48 sustains $150 billion in capex cuts to 2017 – Wood Mackenzie

US Lower 48 sustains $150 billion in capex cuts to 2017 – Wood Mackenzie

Midland and Delaware basins hold the largest number of undrilled, low-cost tight oil locations HOUSTON, Texas— Of the more than US$370 billion in global capital expenditure cut by upstream developers across 2016 and 2017, US$150 billion will be slashed in the US Lower 48 alone — more than three times any other single country, according to […]

Oil’s boom and bust in North Dakota and the Bakken

Oil’s boom and bust in North Dakota and the Bakken

State economic slump caused by low oil prices has put serious strain on municipal finances, services BISMARCK, ND – In what could be his last address as the active Governor of North Dakota, Jack Dalrymple told the crowd at the Williston Basin Petroleum Conference that the industry is solid as solid can be, according to […]

Meridian Energy submits application for 55,000 b/d Davis Refinery in Bakken

Meridian Energy submits application for 55,000 b/d Davis Refinery in Bakken

Meridian has engaged engineering firm Vepica and Houston-based construction/logistics firm BASIC Equipment to manage project BELFIELD, ND– Meridian Energy Group, Inc. says it has submitted its first round of permit applications relating to its 55,000 b/d Davis Refinery, to be located near Belfield, in Billings County, North Dakota, the heart of the Bakken shale play. Meridian Energy filed applications […]

Production falling in key shale fields, rising in Permian Basin

Production falling in key shale fields, rising in Permian Basin

Rig counts fell sharply in 2015, EIA forecasts shale production declines beginning in March Shale oil production is forecast to begin declining in three key American field, but continuing to increase in the Permian Basin, according to a new report. The Energy Information Agency’s most recent Drilling Productivity Report indicates a change in the crude oil production […]