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  • Thu, Dec. 1, 10:21 AM
    • The price of oil pushed through $50 per barrel today, and is currently posting a 2.9% advance on the session at $50.91.
    • The S&P 500 is flat and Nasdaq is down 0.45%, but the XLE has tacked on another 1.8% to yesterday's big rise.
    • Mid-cap movers: Enerplus (ERF +8.2%), Southwestern Energy (SWN +7.9%), Range Resources (RRC +5.3%), Weatherford (WFT +7.1%), Ensco (ESV +8.2%), Crescent Point (CPG +6.3%).
    • Among the large players: Exxon (XOM +1.1%), Chevron (CVX +2%), Shell (RDS.A +2.2%), (RDS.B +2.3%), BP (BP +2.4%), ConocoPhillips (COP +2%), Marathon (MRO +3.1%), Halliburton (HAL +2.3%)
    | Thu, Dec. 1, 10:21 AM | 60 Comments
  • Mon, Nov. 28, 8:00 PM
    | Mon, Nov. 28, 8:00 PM | 2 Comments
  • Wed, Nov. 16, 2:58 PM
    • North Dakota’s crude oil output in September fell to the lowest level in more than two years, staying below the 1M bbl/day level for the second month in a row.
    • Production fell 1.1% for the month to 971K bbl/day in September, the most recent month for which data is available, 10K bbl/day less than August and the lowest level since February 2014, when output was 952K bbl/day.
    • Natural gas production in North Dakota fell 1.7% in September to 1.61B cf/day, the state also reports.
    • Companies with a presence in North Dakota's Bakken shale include CLR, WLL, EOG, ERF, HK, HES, MRO, OAS, QEP, SM, STO, TPLM.
    | Wed, Nov. 16, 2:58 PM | 16 Comments
  • Mon, Nov. 14, 6:51 AM
    • Enerplus (NYSE:ERF): Q3 EPS of -$0.42 may not be comparable to consensus of -$0.02.
    • Press Release
    | Mon, Nov. 14, 6:51 AM
  • Sun, Nov. 13, 5:30 PM
    | Sun, Nov. 13, 5:30 PM | 3 Comments
  • Thu, Oct. 27, 10:07 AM
    | Thu, Oct. 27, 10:07 AM
  • Tue, Oct. 18, 6:57 PM
    • Enerplus (NYSE:ERF) is said to be divesting its position in the Marcellus shale, and while the proceeds from a potential sale could be used to pare down debt, TD Securities analyst Aaron Bilkoski thinks ERF could be in position to make an acquisition that improves its drilling inventory and cash flow per share.
    • Bilkoski speculates that Newfield Exploration's (NYSE:NFX) Bakken assets would interest ERF, as such a purchase likely would prove to be accretive and transform ERF into an oil-weighted North Dakota Bakken pure-play.
    • Given ERF's previous success in the Bakken, including North Dakota's highest average initial production well results on existing acreage, "it stands to reason that the Bakken would be an area that Enerplus would like to expand its footprint if the right asset (and right valuation) presented itself," Bilkoski writes.
    • The analyst also thought SM Energy's (NYSE:SM) Bakken holdings might prove attractive to ERF, but that notion could be off the table following today's $785M sale of North Dakota assets to Oasis Petroleum.
    | Tue, Oct. 18, 6:57 PM | 1 Comment
  • Thu, Oct. 13, 6:41 PM
    • North Dakota oil production dropped below 1M bbl/day in August for the first time in more than two years, as the state's higher-cost production continues to struggle relative to other parts of the U.S.
    • Production from North Dakota’s portion of the Williston Basin fell to 981K bbl/day in August, down 4.7% from July and the lowest since March 2014; the state's peak production, in December 2014, was more than 1.23M bbl/day.
    • Lynn Helms, director of the state’s Department of Mineral Resources, expects oil production to decline to a low of ~900K bbl/day by mid-2017 before recovering.
    • Companies with a presence in North Dakota's Bakken Shale include CLR, WLL, EOG, ERF, HK, HES, MRO, OAS, QEP, SM, STO, TPLM.
    | Thu, Oct. 13, 6:41 PM | 42 Comments
  • Tue, Oct. 4, 4:36 PM
    • Enerplus (NYSE:ERF) spiked nearly 3% into the close after Reuters reported that the company has put its natural gas assets in the U.S. Marcellus shale region up for sale.
    • ERF expects such a sale, which could haul in ~$500M, to make its asset portfolio more geographically concentrated and allow it to pay down debt, according to the report.
    • ERF has oil assets in the Williston Basin in North Dakota, where it expects to spend C$145M this year compares with C$20M in the Marcellus region.
    | Tue, Oct. 4, 4:36 PM | 4 Comments
  • Tue, Sep. 27, 9:30 AM
    | Tue, Sep. 27, 9:30 AM
  • Mon, Aug. 29, 7:52 AM
    | Mon, Aug. 29, 7:52 AM | 3 Comments
  • Fri, Aug. 12, 2:31 PM
    • North Dakota's crude oil production fell 2% in June to 1.03M bbl/day, hitting its lowest level in more than two years.
    • The state's Department of Minerals Resources says production may already have dropped below 1M bbl/day and could take at least a year to recover if the level is breached.
    • But in a positive sign for the industry, the state says the breakeven price for oil production at its existing wells has slipped to $26/bbl, showing that existing production remains profitable for companies that have aggressively cut costs.
    • Companies with a presence in North Dakota's Bakken Shale include CLR, WLL, EOG, ERF, HK, HES, MRO, OAS, QEP, SM, STO, TPLM.
    | Fri, Aug. 12, 2:31 PM | 33 Comments
  • Fri, Aug. 5, 6:16 AM
    • Enerplus (NYSE:ERF): Q2 EPS of -$0.77 may not be comparable to consensus of -$0.10.
    • Press Release
    | Fri, Aug. 5, 6:16 AM | 2 Comments
  • Thu, Aug. 4, 5:30 PM
    | Thu, Aug. 4, 5:30 PM | 1 Comment
  • Thu, Jun. 16, 12:19 PM
    • North Dakota’s crude oil production fell by the largest amount ever for a single month, sinking 6.3% to 1.04M bbl/day in April from a revised 1.11M bbl/day in March.
    • The North Dakota Department of Mineral Resources cites low crude oil prices but also windy weather throughout much of the month, which delays the fracking of wells, adding that it expects the slide to accelerate through May and into the summer.
    • There are 28 drilling rigs currently active in the state, up from 27 in May which was the fewest since July 2005; at its peak, North Dakota had 218 rigs drilling in May 2012.
    • Companies with a Bakken presence include: CLR, ERF, EOG, HK, HES, MRO, OAS, QEP, SM, STO, TPLM, WLL.
    | Thu, Jun. 16, 12:19 PM | 42 Comments
  • Wed, May 11, 6:48 PM
    • The EPA tomorrow will issue the first U.S. standards aimed at curbing methane emissions from the oil and natural gas industry, WSJ reports.
    • The rules, which will affect only new oil and natural gas wells, will require companies to install technologies to monitor and limit inadvertent emitting of methane during the production and transmission process of natural gas, and require new practices such as regular inspections for leaks.
    • Meanwhile, a new study says the Bakken oil-producing region of North Dakota and Montana leaks 275K tons/year of methane, a sizeable amount but less than previously believed.
    • Companies with a Bakken presence include: CLR, ERF, EOG, HK, HES, MRO, OAS, QEP, SM, STO, TPLM, WLL
    | Wed, May 11, 6:48 PM | 71 Comments