Tag Archives: crude oil
Targa Resources Corp. Sells 45 Percent Interest in Bakken Assets for $1.6 Billion
Targa Resources Corp. (NYSE: TRGP) announced on February 19, 2019 that it has entered into definitive agreements to sell a 45 percent interest in Targa Badlands LLC (“Badlands”), the entity that holds all of Targa’s assets in North Dakota, to funds managed by GSO Capital Partners and Blackstone Tactical Opportunities (collectively, “Blackstone”) for $1.6 billion in cash (the…
Industrial Commission Amends Crude Oil Conditioning Standards
On January 18, 2019, the North Dakota Industrial Commission approved amendments to the crude oil conditioning requirements as outlined in Commission Order No. 29398 in Case No. 29398. The amendments include the addition of a commission-approved oil conditioning policy/guidance that will continue to ensure the safe transportation and marketability of…
Oil-by-rail: when crisis strikes
Industry stays proactive in the face of derailments By Jillian Mitchell As North American oil production continues to outpace pipeline capacity, shipment by rail is increasingly common. Today, an estimated two-thirds of North Dakota’s crude oil is transported by rail. It’s a big business, with accordingly, big responsibilities. And when…
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 Corp. announces second quarter 2013 financial and operating results
Record Q2 2013 Production of 93,380 BOE/d Up 4.8% over Q1 2013 Q2 2013 Net Income Available to Common Shareholders of $134.7 Million or $1.14 per Diluted Share and Adjusted Net Income of $121.3 Million or $1.02 per Diluted Share Q2 2013 Discretionary Cash Flow Totals a Record $440.9 Million…
Growing midstream: more ‘liquids-based in the midstream space’
Many years ago, MDU Resources Group called itself a “multidimensional natural resource company.” The description was more than fitting since the Bismarck-based corporation had a utility division that offered electric generation and distribution along with natural gas distribution. The company also operated an interstate natural gas transmission pipeline and storage…
