By Ernest Scheyder
WILLISTON, N.D. (Reuters) – North Dakota oil producer Oasis Petroleum welcomes having hedge fund SPO Partners & Co as its largest shareholder, Chief Executive Tommy Nusz said in an interview on Monday, commenting on a fund that has been a shareholder since Oasis went public in 2010.
SPO, which has been steadily increasing its stake in the company since December, bought more than 2 million shares alone late last week, bringing its stake in Oasis to 11.9 percent.
, Jan 12 (Reuters) – A stark breakdown from
North Dakota projecting how falling oil prices could affect
production was formulated using proprietary corporate data and a
state official’s personal model.
Late last Thursday, the Department of Mineral Resources
caused a stir in world oil markets by releasing slides from a
presentation to the state legislature that included a range of
output forecasts based on different oil price scenarios,
including one showing production would begin to decline by the
middle of this year if crude prices remained at current levels.
CROSBY, N.D. (Reuters) – Just over a decade ago, this sleepy farming community on the fringe of North Dakota’s Bakken shale formation hosted the state’s first horizontal oil well to be hydraulically fractured, or fracked, helping set in motion an economic revolution that shook the world.
Today, Divide County may be another vanguard for the state, this time ominous, as the first to feel the full effect of a collapse in prices that has lopped more than 50 percent off the price of oil since the summer.