North Dakota Building Loading Terminals, Pump Stations

Construction work on six crude oil loading terminals and pump stations in North Dakota costing an estimated $463 million will start in January as part of the first phase of the proposed $3.9 billion Dakota Access Pipeline. When completed, the pipeline will carry 450,000 BOPD through ha 30-inch pipeline running from Stanley, ND 1,134 miles to Patoka, IL. Capacity can be increased in the future to 470,000 BOPD.

Bakken Oil Breaks Even at $24 a Barrel in Some Counties

Despite declining crude oil prices, higher per well production activity increases operators’ ability to make money in those conditions as Dunn County, ND, with 11 rigs working now, leads all other counties with a breakeven price of $24 a barrel.
The figures were compiled by the ND Dept. of Mineral Resources to show how oil prices would impact drilling in the state.
Of the 74 rigs drilling in the state, McKenzie County follows at $27 a barrel and 26 rigs drilling, leading all other western producing counties.

Dakota Prairie Refinery Smacked With Huge Loss

Low oil prices and less demand for diesel fuel contributed to a growing $546.8 million loss for MDU Resources’ new $425 million refinery in Dickinson in the first six months of the year.
MDU president and CEO David Goodin said the demand for diesel fuel in the local markets has dropped to between 10,000 and 15,000 BPD. The refinery is designed to process 20,000 barrels of crude daily and in the second quarter, it paid $44.8 million for Bakken crude oil.

Quantum Energy Files North Dakota Air Quality Permit Application

Bakken energy processing developer Quantum Energy, Inc. (OTC PINK: QEGY), in conjunction with its joint venture partner, Native Son Refining, LLC, announced the filing of a minor source air quality construction permit application today with the North Dakota Health Department, Division of Air Quality.
Quantum Energy is the company whose officials visited Billings over a year ago seeking other potential locations to build a refinery.

ConocoPhillips: More Growth to Come

“We are doing a good job in our industry,” summed up Don Hrap, President, Lower 48 ConocoPhillips, in speaking to guests at the annual Petroleum Industry Appreciation Day Luncheon on September 2.
Hrap told his audience that recent US oil production has “taken us to places we have never seen before.” US oil production is expected to reach between 14 million and 20 million barrels a day.

Ending 2015 Strong in Montana

Projections for Montana’s economy in 2015 are being revised slightly upward as economists take a mid-year look at the factors that impact economic growth. Growth is being projected to end near three percent, slightly higher than the 2.8 percent earlier predicted.
Yellowstone County is also projected to finish the year on a stronger-than- expected note.

Lifting Oil Export Ban Gateway to Economic Future

It’s long past time to end the ban on oil exports in the US, contend industry officials. Several speakers advocated support for the change during a gathering of some fifty Billings business people recently. The change needs to happen now, not in 2016, said Dave Galt, Executive Director of the Montana Petroleum Association.

Whiting to Invest $2.3 Billion

After selling off $185 million in non-core assets, Whiting Petroleum of Denver said it has increased capital spending by $300 million to $2.3 billion to focus more on its key drilling prospects in western North Dakota.

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