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Bakken.com
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Bakken.com strives to provide the latest, most comprehensive information and news regarding the shale energy industry.
Bakken.com strives to provide the latest, most comprehensive information and news regarding the shale energy industry.

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Wednesday Dec 16 - Jason Spiess will be live with Lynn Helms, ND Dept of Mineral Resources for the Weekly Bakken Get Together, exclusively LIVE on Bakken.com 's Facebook! Don't miss it! http://ow.ly/Qx6d30h1T9I
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U.S. producers applauded Thursday’s decision by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers led by Russia to extend output cuts until the end of 2018, according to a recent Reuters article.

Texas and North Dakota - the two largest U.S. shale-producing states - described it as a boon for their producers. Their appreciation was in contrast to a more combative style in recent years, when shale states seemed to relish openly bashing the group.

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Energy Media Group, the parent company of Bakken.com, Marcellus.com, and four other energy-related news websites, announced today a partnership with The Crude Life Media Network. Now, the two companies will better be able to provide energy-focused content to its joint audiences.

Read the entire press release at Bakken.com.
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It was starting to feel as though the oil market would never rebalance. But now, there's evidence that exactly that is now happening.

According to CNBC , it's the first time that the oil market has gone from "contango" to "backwardation." Here's how they explain:

Backwardation is when the current price of oil is higher than a future cost of oil. It is seen as a sign of higher immediate demand. Conversely, contango is when the futures price of oil is higher than the spot delivery price.

According to Reuters data, it is the first time this measure has slipped into "backwardation" since November 20, 2014. Read the entire article...
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What is a hub city? According to the Williston Herald , Hub Cities are where a majority of the Bakken oilfield’s thousands of workers chose to live when they came to North Dakota during the oil boom. Their sudden influx placed many new demands on public infrastructure in the three cities, and caused them to incur large debts to expand the capacity of water and sewer services, as well as improve roads that weren’t designed for such heavy loads.

Dickinson will be the the next stop for a legislative committee studying whether Hub City funding should continue. The Interim Energy Development and Transmission Committee is convening Monday and Tuesday in Dickinson to continue gathering information from the three Hub Cities in the Oil Patch. Read more...
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Bruce Gjovig on innovation in the Bakken (published by the Grand Forks Herald ):

"We haven't fully realized the remarkable impact that innovation in the Bakken has had on our state, country and world. Less than 12 years ago, this amazing oil technology was not fully proven; not a single well had been successfully drilled in the Bakken formation — and the Permian and Eagle Ford — the Bakken's competitive cousins in Texas — were years away from discovery. Truly, it was here in North Dakota that the shale oil boom began."

What do you think is the best example of innovation in the Bakken?
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The McKenzie County Farmer recently reported that Montana-Dakota Utilities will be investing $9.1 million in Watford City to make service more reliable in the area.

The publication said that according to Shane Homiston, Williston District manager with MDU, the company plans to construct a new substation and approximately 12 miles of new transmission line that will create a transmission loop around Watford City.

“The loop will provide redundant sources to the distribution substations in town,” states Homiston. “The redundancy significantly improves reliability, increases flexibility in how the system is operated, and makes performing maintenance on the system much easier, because the company can take sections out of service for maintenance, but keep power on to all customers.”

Are you a customer who has had trouble with electric service in Watford City?
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The depressed oil prices have definitely affected everyone, from apartment owners to local restaurants to oil companies themselves. But a recent article in the West Fargo Pioneer said work has leveled off in the Oil Patch, but it hasn't stopped by any means. Big companies based in other areas of the state like AE2S and JLG Architects are still working in the Bakken.

Depressed oil prices may have slowed business in the Bakken, but technology is advancing and oil will continue to be a large part of North Dakota's economy, the Pioneer reported.

"It's not going to go away," said said JLG CEO and President Lonnie Laffen. "There's a need and technology is changing. It's going to be an awesome industry for a long time."

Read the whole article...
April Baumgarten
April Baumgarten
westfargopioneer.com
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Oil hit $50 this morning. Are things changing?

Check out this article by OilPrice.com . What do you think?
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Now you can take college classes right in Watford City. The McKenzie County Farmer reported that University of Mary will be offering two business classes and a liberal arts class from the Watford City Rough Rider Center.

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