Tag Archives: oil

When is 30-million barrels really 30 million barrels?

By Chris Faulkner, CEO, Breitling Energy Corporation  2011 wasn’t one of OPEC’s better years.  In June, ministers from the 12-member Organization of Petroleum Exporting Countries (OPEC) convened in Vienna for their bi-annual get-together with the proposition of hiking the consortium’s oil production output — at that time running about 28.8…

Whiting Petroleum completes acquisition of Kodiak Oil & Gas

Whiting Petroleum Corporation (NYSE:WLL) (“Whiting”) today announced that it has completed its previously announced acquisition of Kodiak Oil & Gas Corp. (“Kodiak”), creating the largest Bakken/Three Forks producer. The closing of the transaction follows the issuance of a final order by the Supreme Court of British Columbia approving the Arrangement…

Oil & natural gas stimulate North Dakota economic and job growth

Oil and natural gas are driving the U.S. economy through a major energy boom and that boom is rippling through the economy of North Dakota, supporting business activity across the state. This finding grows out of a new American Petroleum Institute survey of domestic oil and natural gas vendors, which…

MDU Resources Group plays integral role in Bakken growth

MDU Resources Group Inc. got its start as a utility company in 1924 in the shadows of the Bakken region. Within a couple of years, it was providing electric and natural gas service to communities that today are in the heart of the oil and natural gas production boom in…

Whiting Petroleum Corporation to acquire Kodiak Oil & Gas Corp. in all-stock transaction valued at $6 billion

Creates the number-one Bakken/Three Forks producer Whiting Petroleum Corporation (NYSE: WLL) and Kodiak Oil & Gas Corp. (NYSE: KOG) announced yesterday a definitive agreement pursuant to which Whiting will acquire Kodiak in an all-stock transaction valued at $6.0 billion, based on the closing price of Whiting on July 11, 2014,…

Expansion projects improve Bakken takeaway capacity

By Lisa Fattori As Bakken oil production reaches one million barrels per day (bpd), sufficient takeaway capacity and access to preferred markets continues to be a priority among shippers. Expanded crude-by-rail services, combined with new pipeline infrastructure, are together working to meet the current demand and will ramp-up to accommodate…