Tag: Bakken Crude Oil

Continental Resources cuts CAPEX by $350 million due to low oil prices

Continental Resources cuts CAPEX by $350 million due to low oil prices

Continental Resources expects production growth of 19% to 23% in 2015 Continental Resources, one of America’s largest independent oil and gas producers, is slashing its 2015 budget to “better align spending with cash flow” as oil prices hover in the mid-$40s range. Continental Resources, Inc. (NYSE: CLR) announced Tuesday that it plans to defer well completion activity, except where […]

By September 9, 2015 0 Comments Read More →
Arctic Gateway pipeline for Alberta crude oil being discussed

Arctic Gateway pipeline for Alberta crude oil being discussed

Arctic Gateway pipeline would move crude to NWT, ship from Beaufort Sea The Northwest Territories government has been talking to pipeline companies about shipping crude oil through an Arctic Gateway pipeline, according to the territory’s minister in charge of resource development. David Ramsay and N.W.T. Premier Bob McLeod have for some time been touting the concept of […]

Bakken oil treated before shipment, fiery derailment – Hess Corp.

Bakken oil treated before shipment, fiery derailment – Hess Corp.

Bakken oil “fully in compliant with North Dakota’s crude conditioning order.” A shipment of Bakken oil involved in an explosive train derailment in North Dakota had been treated to reduce its volatility – a move that state officials suggested could have reduced the severity of the accident but won’t prevent others from occurring. Hess Corporation spokesman John […]

Heimdal, N.D. explosion amps up debate over oil tanker safety

Heimdal, N.D. explosion amps up debate over oil tanker safety

A train that derailed and caught fire early Wednesday near Heimdal in rural North Dakota was hauling crude from the state’s oil patch, raising questions about whether new state standards intended to reduce the volatility of such shipments are sufficient. The six tank cars that exploded into flames were a model slated to be phased […]

New North Dakota oil by rail car regs aimed at improving safety

New North Dakota oil by rail car regs aimed at improving safety

North Dakota oil by rail regulations to reduce crude volatility Following a spate of explosive accidents involving North Dakota crude, the state began requiring companies on Wednesday to remove certain liquids and gases from oil before it’s loaded onto rail cars, a move industry and state regulators believe will make for safer shipments. The rules, developed […]

Bakken crude oil train derails near Illinois city of Galena, catches fire

Bakken crude oil train derails near Illinois city of Galena, catches fire

Bakken crude oil has been described as “closest thing to gasoline from the ground” A freight train loaded with Bakken crude oil derailed on Thursday, bursting into flames and prompting authorities to issue a voluntary evacuation order within 1 mile (1.6 kilometres), authorities said. The train derailed around 1:20 p.m. in a rural area where […]