10/22/2012 Texas-based Halcón Resources Corporation today announced that it has entered into an agreement with Petro-Hunt, L.L.C. and an affiliated entity, to acquire producing and undeveloped oil and gas assets in the Williston Basin for a total purchase price of approximately $1.45 billion, consisting of $700 million in cash and $750 million in equity. The assets consist of approximately 81,000 net acres located primarily in Williams, Mountrail, McKenzie and Dunn Counties. Read more...
10/8/2012 Continental Resources released its five-year plan today in Oklahoma. The company said it plans to triple its production and proved reserves by 2017. Continental is the #1 leaseholder in the Bakken with nearly one million net acres. Read more
10/5/2012 Global Partners LP has announced it has signed a purchase agreement to acquire a 60% membership interest in Basin Transload LLC , which operates two transloading facilities in North Dakota with a combined rail loading capacity of 160,000 barrels per day. The total purchase price is expected to be approximately $80 million. The transloading facilities are approximately 195 miles apart in Columbus and Beulah. The Columbus facility is located along the Canadian Pacific Railway and provides single line haul service to Global's recently expanded terminal in Albany, NY. The Beulah site, which supports crude oil production efforts in the Williston Basin, is located along the Burlington Northern Santa Fe Railroad with direct long-haul service to the West Coast and Gulf Coast markets. Read more
10/4/2012 Enbridge Inc. reportedly is planning to build an oil pipeline to transport Bakken crude to eastern refineries to avoid competing with increasing volumes converging on the major refineries in Cushing, Oklahoma. The pipeline, to be called "Sandpiper", initially would transport up to 200,000 barrels a day from the Williston Basin to Superior, Wis. with plans to eventually continue on to refineries in eastern Canada, according to an Enbridge official quoted in today's report, which stated Enbridge and other pipeline companies are looking to divert oil away from the saturated Midwest market. • Read more • Read Bakken Pipeline Update >
10/1/2012 Alliance Pipeline reportedly has received regulatory approval for a proposed pipeline that would deliver natural gas from the Bakken Shale formation to the Chicago market. The 106,500 million-cubic-feet-a-day Tioga pipeline should be running by mid-2013, according to a report out today. Read more
10/1/2012 Triangle Petroleum Corporation today announced the formation of Caliber Midstream Partners, LP, a joint venture with First Reserve Corporation's Energy Infrastructure Fund, a global energy-focused private equity and infrastructure investment firm. According to Triangle Petroleum, Caliber will be a midstream provider offering a full service pipeline solution to producers for oil, natural gas, flow back and produced water, and freshwater in the Williston Basin of North Dakota and Montana. Construction reportedly is underway on a Phase 1 pipeline system in McKenzie County. Caliber plans to expand that project and to build new infrastructure in other counties of North Dakota and Montana as needed by its customers . Read more
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