Developers have halted work on part of a major pipeline project in North Dakota that Enbridge Inc. recently announced it would spend US$1.5 billion to buy into. The US$3.7-billion Dakota Access Pipeline is set to run through four states and has faced protests and opposition over concerns about environmental impacts.
Samson Oil & Gas (ticker: SSN) announced an agreement to sell the company’s interest in the North Stockyard field for $15 million. The buyer of the acreage is Angelus Private Equity Group, who has pl...
Oil production from key shale formations in North Dakota and Texas dropped slightly in March versus February, according to Platts Analytics.
“California and New York want what we’ve got,” said Shawn Muehler, a 30-year-old Fargo resident, gazing at a horizon of empty fields, silos, windbreak trees and hardly any people. A winged craft traces the air, mapping a field with pinpoint accuracy for his start-up, a drone software company called Botlink.
For leading U.S. shale oil producers, $40 is the new $70. Continental Resources Inc, led by billionaire wildcatter Harold Hamm, is prepared to increase capital spending if U.S. crude reaches the low- to mid-$40s range, allowing it to boost 2017 production by more than 10 percent, chief financial official John Hart said last week.
In a basement lab of a North Dakota research center, Beth Kurz and an assistant are peering through a scanning electron microscope, studying samples from the state's vast Bakken shale oil formation.
Protenus has announced raising $4 million from a Series A fundraising round. The finance has been rendered from a group of investors led by Arthur Venture. The health data security service provider intends to expand its business all over the US through this fund.
<p style="line-height: 18.9091px;">Kohlberg Kravis Roberts learned that lesson the hard way after falling commodity prices doomed two of its biggest investments: the multibillion-dollar buyouts of power producer TXU Corp and oil explorer Samson Resources Corp. <span style="line-height: 18.9091px;">Now, the private equity firm is backing away from debt-fuelled takeovers of energy companies, which are vulnerable to unpredictable moves in oil and gas prices. The firm instead is focusing on smaller drilling deals that are usually funded with less debt and are better able to survive swoons.</span></p>
U.S. energy firms cut oil rigs for the sixth straight week, and are expected to shed more in coming weeks with three major U.S. shale oil companies slashing their spending plans after crude prices hit 12-year lows.