Serving The Bakken And Beyond
Hilco Industrial
Latest Prices

Latest Prices

Upper Rocky Mountain
Spot Crude Oil Prices

WTI and N. Texas: $51.32
CO North Central: $47.69
Colorado Western: $45.16
ND Light Sweet: $47.62
WB Mixed Sweet: $45.82
N Wyo. / S Mont.: $45.37
Wyoming Sweet: $46.91

Spot prices updated August 16

Daily Cash Market
Spot Natural Gas Prices

US Spot Gas Average: $1.975
Henry Hub, Erath, LA: $2.190
N. Border, Watford, ND: $1.800
N. Border, Ventura, IA: $2.025
Chicago Citygate: $2.020
NGPL Midcontinent: $1.695
Cheyenne Hub, CO: $1.695
K. Morgan / CIG, WY: $1.695
Opal, SW Wyoming: $1.790

Spot prices updated August 16

U.S. Rig Count

935 as of 8/16/2019
+1 from 8/9/2019
-122 from 8/17/2018
(Courtesy Baker Hughes)
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Harold Hamm, CEO of Continental Resources, the largest Williston Basin producer, said OPEC and U.S. shale producers should cut crude oil production and shipments into an oversupplied market.

U.S. shale producers “need to row our own boat... We need to make sure we don’t oversupply the market,” Hamm told a Denver conference recently. “Capital discipline is more important now than at any time I’ve seen.”

Producers need to cut back on the number of active drilling rigs, noting that reductions so far “haven’t bottomed yet,” Hamm said. He believes that the current rig count of 909 will drop to 800.

U.S. District Judge Brian Morris scheduled a hearing for Oct. 9 from environmental organizations suing to stop construction of the $7 billion Keystone XL Pipeline authorized under a new permit from the Trump Administration.

“Specifically, this permit reinforces, as should have been clear all along, that the Presidential Permit is indeed an exercise of Presidential authority, that is not subject to judicial review under the Administrative Procedure Act,” a White House spokesman said.

Because of the critical shortage of outbound crude oil pipelines in Canada, Enbridge, Inc. is proposing an expansion of its older Express Pipeline...
A $200-an-acre bonus paid for a 640-acre tract in Richland County accounted for more than half of the total revenues from the June 4 Montana state oil and gas lease sale...
House For Sale
Two Dunn County tracts posted the highest bids at the North Dakota state oil and gas lease sale, which brought in bonuses totaling $1,100,668, with bids averaging $52.55 an acre for leases on 20,944 acres in a dozen counties...
Hess Corporation brought in a record producing oil well in McKenzie County’s Antelope Field, revealing that it was the highest 24-hour initial production test of any oil well ever drilled in the United States...
On the heels of a first quarter net income of $32 million, Hess Corp. cited a 17% jump in Bakken production to 130,000 BOEPD, compared to 111,000 BOEPD in the same quarter a year ago. It is also planning expansion of its gas processing plant at Tioga...
News You Will Read Here First
Many copy our stories, but you will read them first in Oil Patch Hotline. We cover news to keep you informed on what is going on in the Williston Basin and the upper Rocky Mountain region. We supply rig locations and the latest drilling permits issued by state commissions in North Dakota, South Dakota, Montana, Wyoming, and Colorado.
Subscribe to Oil Patch Hotline by clicking here, or reach us by phone/text message at 407-463-2237.
A landowners group is challenging the legality of new North Dakota legislation which clarifies “pore space”, and has the backing of the ND Petroleum Council as well as several landowners and farm groups...
A huge expansion costing between $35 million and $40 million, that will more than double the capacity of the Dakota Access Pipeline to 1.1 million BOPD, was proposed by Energy Transfer Partners. Work will be completed by February 2021...
Empire Petroleum Corp. of Tulsa paid $5.6 million for 184 stripper wells producing 375 BOEPD in a dozen Williston Basin counties covering leases on 20,700 acres. Much of the acreage is located near leases already owned by Empire...
Greenpeace and other individuals were blamed for directing protests causing millions of dollars in damage at the construction site of Dakota Access Pipeline, in a new lawsuit filed by Energy Transfer Partners...
Marathon Oil Corp. saw well costs drop to $5 million in the third quarter of 2018 as it brought 27 new wells online in the Williston Basin, increasing year over year production by 40% to 94,000 BOEPD. In the Myrmidon area, the average 30-day initial production rate was 3,335 BOEPD...
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