BISMARCK, N.D. – North Dakota’s biggest oil driller says it will commit $250 million to help fund a proposed pipeline that would gather carbon dioxide produced by ethanol plants across the Midwest and pump it underground for permanent storage. Continental Resources said Wednesday it’s making the investment into Summit Carbon Solutions’ $4.5 billion pipeline. There are 31 ethanol facilities across…
FARGO (KVRR) – You may have noticed that local gas prices jumped significantly overnight. In the Fargo-Moorhead area, some retailers are selling regular unleaded for up to $3.59 per gallon, an increase of about 20 cents. AAA says in North Dakota, the average price is nearly $3.41 per gallon. Minnesota’s average is around $3.45. The national average price is nearly…
BISMARCK, N.D. – The Bakken’s oil boom appears to be in the rearview mirror. North Dakota Mineral Resources Director Lynn Helms say a word he heard many times when he met in Texas with executives from 10 oil companies with wells in the Bakken is “mature” in describing the state’s oil patch. Helm says the Bakken has been rebranded. He…
BISMARCK, N.D. – An agency key to implementing new in-state investment components of North Dakota’s $8.3 billion oil tax savings has a new leader. The State Investment Board named Retirement and Investment Office interim Executive Director Jan Murtha to take over the role on a permanent basis. The office oversees about $20 billion of assets. Murtha, who is an attorney,…
BILLINGS, Mont. – The Biden administration said Friday that industry regulators for the first time will begin analyzing greenhouse gas emissions from federal oil and gas leases on a national scale, as they prepare to hold lease sales in numerous Western states next year. The announcement from the Interior Department’s Bureau of Land Management came as officials released a report…
Willow River/Honor the EarthMINNEAPOLIS (AP) – Enbridge has failed to meet a deadline set by the Minnesota Department of Natural Resources for cleaning up a site where an aquifer ruptured during construction of the Line 3 oil pipeline. The DNR had given the company until Friday to repair the damage to the artesian aquifer near Clearbrook. Regulators will require compensation…
BISMARCK, N.D. – A judge has sided with a Houston-based energy company in a dispute with North Dakota involving oil and natural gas royalties. Northwest District Court Judge Robin Schmidt’s ruling could affect several other drillers that allegedly owe the state millions of dollars in payments, the biggest portion of which is meant to support public education. The ruling stems…
BISMARCK, N.D. (AP) – A former North Dakota oilfield executive has pleaded guilty to federal fraud charges for misleading shareholders about his company’s value, in a scheme that eventually forced it to go bankrupt and led to more than $886 million in losses. Joseph Kostelecky, of Dickinson, pleaded guilty Wednesday to one count each of wire fraud and securities fraud. The…
NORTH DAKOTA (KVRR) – Like many industries, it was a whirlwind for the energy sector during the first waves of the pandemic. United States Oil prices have hit their highest point in seven years at $80 per barrel. “2020 was certainly a really tough year with oil prices plummeting to -$36 and in that $10 range, $20 and all of a…
MINNEAPOLIS – A Minnesota company says it will expand its ownership in a fleet of oil wells in North Dakota. Minnetonka-based Northern Oil and Gas will pay Texas-based Comstock Resources $154 million on the new properties, which are expected to produce 4,500 barrels of oil per day. Comstock Resources is controlled by Jerry Jones, who owns the Dallas Cowboys football…
