Shares of Whiting Petroleum (NYSE:WLL), Continental Resources (NYSE:CLR) and other crude oil producers in the Bakken shale formation lost ground Thursday after the U.S. government said oil produced from the region may be extra flammable, according to Reuters.
Articles Tagged "bakken"
PetroBakken Energy Ltd. (TSX:PBN) announced the company’s 2012 reserves and operational report.
Canadian National Railway Co. (TSX:CNR) and Tundra Energy Marketing Ltd. announced that they will be constructing a crude oil rail car loading terminal close to Cromer, Manitoba. The terminal will be used by companies producing Bakken crude oil in Manitoba and Saskatchewan.
ExxonMobil Corp. (NYSE:XOM) announced that along with its subsidiary, XTO Energy, it signed an agreement to acquire all the Bakken shale assets belonging to Denbury Resources Inc. (NYSE:DNR). The move will significantly increase Exxon's output in North Dakota and Montana, which are expected to produce more than 15,000 barrels of oil equivalent per day during the last half of 2012.
Bloomberg reported that oil production from the part of the Bakken shale formation located in North Dakota was 609,580 barrels per day in July, nearly double the 360,820 barrels produced in July 2011.
State governments are increasingly flexing their regulatory muscle and mandating increased transparency around hydrofracking to allay public fears.
Seeking Alpha reports BHP Billiton (NYSE:BHP) agreed to pay $15B for Petrohawk (NYSE:HK) on Thursday.
Understanding the strategy of companies involved in shale projects is fundamental for investors in order to determine their own investing strategy.
The rapidly growing shale oil industry in Texas could signal a coming oil boom for the United States.
Nextraction Energy Corporation (CVE:NE) enters into a Seismic and Farmout agreement with Primary Petroleum Company, LLC, a wholly owned subsidiary of Primary Petroleum Corporation (CVE:PIE).