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UPDATE 3-North Dakota posts surprising jump in oil output in March

WILLISTON, N.D., May 13- North Dakota posted a surprising jump in oil and natural gas output in March, as producers leaned on newer technologies and processes to offset a slump in commodity prices. "We scratched our heads in the month of March" as to why production increased, Lynn Helms, director of the state's Department of Mineral Resources, said during a conference...
Source: Reuters | By: Ernest Scheyder
EXCLUSIVE-Oil on fiery North Dakota train less volatile than limit

WILLISTON, N.D., May 7- Crude oil aboard a BNSF train that derailed in North Dakota on Wednesday caught fire even though it was less flammable than required by a state law that took effect last month. The oil, transported in tank cars owned by Hess Corp, had a vapor pressure of 10.83 psi, according to test results. They were tested on May 6, the day of the accident, by Intertek,...
Source: Reuters | By: Ernest Scheyder
EXCLUSIVE-Oil that caught fire on N. Dakota train was less volatile than new rules

WILLISTON, N.D., May 7- The crude oil aboard a BNSF train that derailed in central North Dakota on Wednesday caught fire even though it was less flammable than required by a new state law that took effect last month. The oil, which was being transported in tank cars owned by Hess Corp, had a vapor pressure of 10.83 psi, according to test results. They were tested on May 6, the...
Source: Reuters | By: Ernest Scheyder
Guyana says Exxon discovers oil in offshore block

GEORGETOWN, May 7- Exxon Mobil Corp has discovered oil off the coast of Guyana, the company and the South American nation's government said on Thursday, potentially inflaming a long-running territorial dispute with neighboring Venezuela. Guyana in 2013 said Venezuela's navy evicted a ship used by Texas- based Anadarko Petroleum Corp to explore for oil in the...
Source: Reuters | By: Neil Marks
EXCLUSIVE-Oil on derailed N. Dakota train was safer than new pressure rules

WILLISTON, N.D., May 7- The crude oil aboard a BNSF train that derailed in central North Dakota on Wednesday caught fire even though it was less flammable than required by a new state law that took effect last month, a government source familiar with the matter said. The oil, which was being transported in tankcars owned by Hess Corp, had a vapor pressure of 10.8 PSI,...
Source: Reuters | By: Ernest Scheyder
EXCLUSIVE-Hess-owned oil railcars involved in North Dakota derailment

WILLISTON, N.D., May 6- A BNSF train that derailed in central North Dakota on Wednesday was carrying railcars owned by Hess Corp, 10 of which caught fire and forced the evacuation of a nearby town, the oil producer told Reuters late Wednesday. Hess, the third-largest North Dakota oil producer, said BNSF is leading cleanup efforts but added it stands ready to assist.
Source: Reuters
9 'Avenger stocks' strike back with riches

Each of these stocks were down 5% or more for the year a month ago-but have rallied back and then some just in the past month. USA Today reports.
Source: USA Today | By: Matt Krantz
UPDATE 2-EOG Resources to resume fracking if oil hits $65/barrel

WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc plans to begin fracking hundreds of wells in North Dakota and Texas later this year if oil prices stabilize around $65 per barrel, executives said on Monday after reporting a better-than-expected adjusted profit. Whiting Petroleum Corp said last week it would add drilling rigs to its...
Source: Reuters | By: Ernest Scheyder
UPDATE 1-EOG Resources results beat Street on oil hedges

WILLISTON, N.D., May 4- Oil and natural gas producer EOG Resources Inc posted a better-than-expected adjusted profit on Monday as hedges and cost cuts helped offset low oil prices. It was the continuation of a theme for U.S. shale oil producers, including Whiting Petroleum Corp and Hess Corp, who have aggressively curtailed spending and relied in varying degrees...
Source: Reuters | By: Ernest Scheyder
U.S. shale firms revive hedging as oil rebounds, may vex OPEC

NEW YORK, May 1- U.S. oil producers are rushing to take advantage of the rebound in oil markets by locking in prices for next year and beyond, safeguarding future supplies and possibly paving the way for a rebound in production. The flurry of hedging activity in the past month will help sustain producers' revenues even if oil markets tumble again, which is bad news for...
Source: Reuters | By: Catherine Ngai