Subscribe free to our newsletters via your
. Space Travel News .




OIL AND GAS
North Dakota oil sector showing resiliency
by Daniel J. Graeber
Bismarck, N.D. (UPI) Aug 17, 2015


disclaimer: image is for illustration purposes only

North Dakota's upstream oil and natural gas sector continues to show signs of resiliencey in the weak crude oil market, state data show.

State data show 74 rigs actively exploring or producing oil or natural gas in the state. Rig numbers, which serve as a barometer for the health of the energy sector, has been relatively steady in recent weeks in North Dakota. The rig count for Monday is down one from last week and unchanged from Aug. 3.

Lower crude oil prices, down more than 50 percent from one year ago, leaves energy companies with less capital available for exploration and production activities. State data show the so-called break-even price, the minimum price at which a project is economically feasible to operate, ranges from $85 per barrel to $25 per barrel.

Nation-wide, oil services company Baker Hughes last week reported the total net rig count remained unchanged at 884, though the natural gas rig count dropped two and oil rigs increased by two.

The previous oil rig count from Baker Hughes was up by six from last week's total.

Data from North Dakota show crude oil production in June, the last full month for which the state publishes data, was 1.21 million barrels per day, up about three quarters of a percent from the previous month and just shy of the all-time record of 1.23 million bpd reached in December.

Marathon Oil in its latest quarterly report said crude oil production from the Bakken shale reserve area of North Dakota had increased year-on-year, attributing the gain to improved efficiency in its shale drilling operations.

Lynn Helms, director of the North Dakota Industrial Commission, said low crude oil prices could act as a mild governor on the state's oil sector.

"Drilling permit activity increased from May to June and again from June to July as operators positioned themselves for low 2015 price scenarios," he said in a statement.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
TransCanada: Study shows pipeline safer than rail
Calgary, Alberta (UPI) Aug 14, 2015
Pipeline company TransCanada pointed to a study that suggests the increase in the rail transport of crude oil is a risky option for the industry. TransCanada spokesperson Mark Cooper in an emailed statement said a report from The Fraser Institute shows transport of crude oil and natural gas in Canada by pipelines is 4.5 times safer than rail. For its long-delayed Keystone XL pipeline th ... read more


OIL AND GAS
ILS concludes Proton launch failure investigation

Intelsat 34 fueled for heavy-lift mission with Ariane 5

India to launch 9 US satellites in 2015, 2016

Payload checkout is advancing for Arianespace's September Soyuz flight

OIL AND GAS
One Decade after Launch, Mars Orbiter Still Going Strong

Mars Rovers and the Last Moonwalker to Invade Poland in September

Salt flat indicates some of the last vestiges of surface water on Mars

New Online Exploring Tools Bring NASA's Journey to Mars to New Generation

OIL AND GAS
From a million miles away, NASA camera shows moon crossing face of Earth

Russia to conduct simulated flight program to Moon, Mars over 4 years

NASA Could Return Humans to the Moon by 2021

Smithsonian embraces crowdfunding to preserve lunar spacesuit

OIL AND GAS
Scientists study nitrogen provision for Pluto's atmosphere

Flowing nitrogen ice glaciers seen on Pluto

New Horizons 'Captures' Two of Pluto's Smaller Moons

New Horizons Finds Second Mountain Range in Pluto's 'Heart'

OIL AND GAS
Astronomers discover new planet orbiting two stars

Scientists solve planetary ring riddle

Overselling NASA

Exoplanets 20/20: Looking Back to the Future

OIL AND GAS
Mechanisms are Critical to Space Vehicle Flight Success

Robotic maker system will build biggest composite rocket parts ever made

Russia delivers 2 RD-181 rocket engines to US

Space Launch System design 'right on track' for journey to Mars

OIL AND GAS
China's space exploration potential has US chasing its own tail

China to deploy space-air-ground sensors for environment protection

Chinese earth station is for exclusively scientific and civilian purposes

Cooperation in satellite technology put Belgium, China to forefront

OIL AND GAS
Comet's firework display ahead of perihelion

Philae silver lining: robot lab shielded from sun

Celebrating a year at the comet

Comet 67P, robot lab Philae's alien host, nears Sun




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.