, Oct 16 (Reuters) – While the recent slump
in crude oil prices has fanned concern about the longevity of
the U.S. shale boom, it’s created a benefit of sorts for Whiting
Petroleum Corp by lowering the price the North Dakota
oil producer will pay for Kodiak Oil & Gas Inc.
The all-stock deal is now roughly 30 percent cheaper than
when first announced in July, a difference in value of $1.13
billion. The final deal value will reflect Kodiak’s stock price
on the day of closing, expected by the end of the year.
Windy day here in North Dakota’s oil country, with gusts up to 54 mph. (Above 35 mph it’s too windy to complete an oil well…)
Today, it turns out, is National Fossil Day, aka: a day in which all of western North Dakota says a collective: “thank you.”
Oct 15 (Reuters) – North Dakota’s oil production rose less
than expected in August due to stringent flaring-reduction
standards and sliding oil prices, state regulators said on
While production hit an all-time high, some energy companies
in the second-largest oil-producing state held back in order to
connect new wells to equipment that could process natural gas, a
costly step mandated by new regulations.