Tag: Oil Production
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Higher Crude Oil Prices Projected
From Oil Patch Hotline Two major Wall Street banks are projecting higher prices for crude oil later this year because of production cuts by OPEC and hundreds of wells shut down in leading oil producing states of Texas and North Dakota. UBS sees Brent rising to $43 a barrel by the end of the years…
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Bakken Output Increases, Expected to Grow More
North Dakota’s Bakken Shale gas output increased by 20% in 2019, and the latest analysis shows it growing another 10% year over year in 2020. Due to limited downstream access, the additional production looks to take a greater share on Northern Border Pipeline. Bakken gas production is expected to grow by 10% in 2020, before…
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The Bakken
The core area of North Dakota’s Bakken was rocking in October as the state set new records for oil and natural gas production. According to Lynn Helms, North Dakota Mineral Resources director. “For the first time ever, the state had over 1.5 million barrels per day of oil production” – a five percent increase over…