February 25, 2016

Dealing with low oil, Bakken operators look for new tech

Despite the Bakken’s current reality of production volumes in decline and decreased drilling and completion activity due to low oil prices, Lynn Helms, director of the North Dakota Department of Mineral Resources Oil and Gas Division, said there is still excitement amongst operators and service providers for implementing new and better technology. During his monthly Director’s Cut press event, Helm’s explained several themes he learned about during his time at a major oil industry event held recently. After speaking with several of the main Bakken operators and other globally-recognized energy service firms, he said many are expecting low oil prices to stay for longer than they initially expected. Low oil prices should persist for the next 6 to 9 months, he was told, and operational plans are now being formed for 2016 based on current oil prices. Although several producers have had to undergo workforce reduction protocols, many believe the […]