Gas Plants Going on Line in ND

Three natural gas processing plants in North Dakota are expected to come on line by the end of the year, adding 180 Mcf a day to the overall processing, according to Oil Patch Hotline.

Scientists Report on How Brucellosis Spreads

Scientists with the U.S. Geological Survey and its partners have shown how brucellosis, a disease which has significant economic implications for the cattle industry and wildlife health, has been transmitted back and forth between cattle, bison and elk in the greater Yellowstone area.

Meridian Touts “Clean” Refinery

The top executive for Meridian Energy Group said the $900 million refinery it is planning for Belfield will be the “cleanest refinery every built” and discounted environmentalists concerns about air quality.
“Even the people at the park (Theodore Roosevelt National Park) will be surprised at what we end up with,” said Chairman and ECO William Prentice. Environmentalists had questioned the refinery’s location close to the national park.

Oil Exec Predicts $60 Oil

Continental Resources CEO Harold Hamm predicted crude oil prices would reach $60 a barrel by the end of the year as most of the oversupply of crude in storage will be absorbed ty the third quarter.

MDU Sells Dakota Prairie Refinery

MDU Resources Group, Inc. announced last week that its subsidiary, WBI Energy, Inc., has sold Dakota Prairie Refining LLC to Tesoro Refining & Marketing Company LLC, an affiliate of Tesoro Corporation.
WBI Energy had been equal partners in building and operating the refinery with Calumet North Dakota LLC, a subsidiary of Calumet Specialty Products Partners LP. To effect the sale of the refinery to Tesoro, WBI Energy on June 27 acquired Calumet North Dakota’s 50 percent membership interests.

Inside the Patch by Dennis Blank, Editor Oil Patch Hotline

In 2011, a half dozen producers in North Dakota were accused of violating federal law in the death of 28 birds found dead near reserve pits. While the charges were later tossed out, the industry was subjected to an onslaught of daily headlines over the death of these birds. The story was picked up by the national press which joined in the chorus of those accusing the industry of intentionally slaughtering these birds and insisting there should be huge fines.

All-American Cookout Cost Ticks Up

A cookout of Americans’ favorite foods for the Fourth of July, including hot dogs, cheeseburgers, pork spare ribs, potato salad, baked beans, lemonade and chocolate milk, will cost slightly more this year but still comes in at less than $6 per person, says the American Farm Bureau Federation.
Farm Bureau’s informal survey reveals the average cost of a summer cookout for 10 people is $56.06, or $5.61 per person.

Banks “Best of the Best”

Three Montana banks with locations in Billings were recognized as “The Best of the Best” among financial institutions in the nation by Independent Community Bankers of America. They were ranked based on Return on Average Assets (ROAA) and Return on Average Equity (ROAE) as Subchapter C Corporations or Subchapter S Corporations, and also based upon size.
Stockman Bank ranked 7th in the nation as the Subchapter S Corporation with assets over $1 billion.

Market Update

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