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EIA: North Dakota oil production reached new high of 770K bpd in 2012; transported by trucks and railroads

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North Dakota crude oil production (including lease condensate) averaged an all-time high of 770,000 barrels per day in December 2012, according to the US Energy Information Administration (EIA). Much of crude oil production in North Dakota is gathered and transported by truck to railcars leaving the state.

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EIA: More than 35% of natural gas produced in North Dakota is flared or otherwise not marketed due to infrastructure limitations

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Natural gas production in North Dakota has more than doubled since 2005, largely due to associated natural gas from the growing oil production in the Bakken shale formation. Gas production averaged more than 485 million cubic feet per day (MMcfd) in September 2011, compared to the 2005 average of about 160 MMcfd.

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Record $86B in 2011 US oil and gas upstream deals, led by unconventional sector with $62B

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United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. We expect continued strong activity in oil and liquids-rich resource plays in 2012.

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USGS to update Bakken Formation oil assessment based on new geological information; potential for greater recovery

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The US Geological Survey will update its 2008 estimate of undiscovered, technically recoverable oil and gas in the US portion of the Bakken Formation, an important domestic petroleum resource located in North Dakota and Montana. — Secretary of the Interior Ken Salazar. Source: USGS. Click to enlarge.

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Transcanada restarts Keystone oil sands pipeline operations

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TransCanada Corporation said that its 590,000 barrel-per-day (bpd) capacity Keystone Pipeline system resumed transporting oil sands crude on Sunday, 5 June, after a shutdown 29 May following an above-ground spill at a pump station in Kansas involving less than 10 barrels of oil. Earlier post.) The tar sands are estimated (e.g.,

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Exxon Mobil Acquiring XTO Energy in $41B Deal; Enhances US Position in Unconventional Natural Gas and Oil

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The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources. XTO’s resource base is the equivalent of 45 trillion cubic feet of gas and includes shale gas, tight gas, coal bed methane and shale oil.

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Texas Clean Energy Project signs long-term CO2 offtake agreement with Whiting Petroleum for enhanced oil recovery; 90% CO2 capture from IGCC coal polygen plant

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Its high carbon-capture rate reduces the total amount of CO 2 emitted to the atmosphere to less than 10% of the emissions for power from a conventional coal plant, and less than 25% of those for power from a highly efficient, natural gas-fired plant, according to Summit. —Donald Hodel, Chairman of Summit Power. Earlier post.).

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