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OIL AND GAS
Economic risks may emerge in North Dakota
by Daniel J. Graeber
Chicago (UPI) Apr 3, 2015


Oil product spill hits North Dakota wetland
Bismarck, N.D. (UPI) Apr 2, 2015 - Most of the waste from a pipeline release in North Dakota has been recovered, though the spill impacted a wetland area, the Health Department said.

The North Dakota Department of Health said it was notified of a pipeline leak in Burke County, in the northwest of the state along the U.S.-Canadian border.

"The report indicates that the pipeline, owned by Oasis Petroleum LLC, leaked approximately 500 barrels of produced water [brine], of which 475 barrels have been recovered," the department said Wednesday in a statement. "The spill has impacted a nearby wetland."

The incident is at least the fifth such release of its kind this year in the state at the heart of the shale oil boom in the United States. About 100 barrels of brine were released in two separate incidents last month.

Energy companies inject brine, or salt water, to improve oil and gas production from shale deposits. The Federal Environmental Protection Agency said brine may contain toxic metals and radioactive substances that can be "very damaging" to the environment and public health if released on the surface.

The State Health Department said it and oil spill responders were on site observing the cleanup operation. There was no statement on the incident from Oasis Petroleum and no information on the status of the pipeline.

North Dakota oil production is slowing down in part because energy companies are spending less in the era of low oil prices. The state, the No. 2 oil producer in the country after Texas, produced 1.2 million barrels of oil per day in January, a 3 percent decline from the all-time record set in December.

The rig count in North Dakota continues to decline and the economic health of cities depending on the oil industry may start to suffer, credit analysis finds.

State data show 94 rigs actively exploring for or producing oil and natural gas. That's down 2 percent since the start of the week and a reflection of spending cuts enacted by energy companies reacting to the low price of oil.

Statewide, analysis from Standard & Poor's finds the North Dakota economy will be able to cope with a depressed energy sector. For cities and counties in the oil-rich parts of the state, the slowdown could result in decreased revenues during the second half of 2015 and early 2016.

"Oil-industry activity in North Dakota fuels direct and indirect taxes, such as sales, income, and property taxes," credit analyst Carol Spain said in an emailed statement from Chicago. "A decline in industry activity could contribute to a decline in state taxes, but likely the impact would be greater for local governments whose economies are concentrated in the oil industry."

North Dakota's economy is growing at a faster rate than any other state in the nation, with real gross domestic product growth of 9.7 percent reported for 2013 by the U.S. Department of Commerce. Gov. Jack Dalrymple, in his State of the State Address early this year, recognized the potential impacts of the oil market downturn for his state, but held out expectations for a correction.

The state in its latest forecast expects to take $8.3 billion in tax revenue from oil and gas for 2015-17. That forecast assumed oil prices in the $74-82 per barrel range. West Texas Intermediate crude oil last traded at $49.55 per barrel.

S&P said there's been no evidence of a sub-state economic slowdown in North Dakota, but because the oil economy is relatively new, many cities will face challenges navigating through a weak commodities market.


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NRDC: Oil, gas violations largely unreported
New York (UPI) Apr 2, 2015
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