Tuesday, October 13, 2026

Will a Newly Sanctioned Pipeline Give the Bakken a Big Surplus of Gas Takeaway? RBN Energy -- October 13, 2026

Locator: 51940B.

RBN Energy: will a newly sanctioned pipeline give the Bakken a big surplus of gas takeaway? Link here. Archived.

The developer of a planned natural gas pipeline across North Dakota has reached a final investment decision (FID) after securing long-term, demand-side commitments for almost all its 1.4 Bcf/d of capacity. The question is, with crude oil-focused drilling activity in the Bakken flat despite elevated WTI prices, will WBI Energy’s roughly $3 billion Bakken East Pipeline leave the play with way too much gas takeaway space? In today’s RBN blog, we’ll discuss the pipeline project, the financial support the state of North Dakota is providing, and the conflicting forecasts for crude oil and associated gas production in the Bakken.

Over the past 15 years we’ve written frequently about the ongoing need to build more midstream infrastructure to serve Bakken production. Crude oil gathering systems and takeaway pipelines. Crude-by-rail terminals. Gas gathering systems and gas processing plants. And, most recently, natural gas and NGL pipelines. Why? Because while Bakken oil production has been holding steady at about 1.2 MMb/d — well below the play’s 1.5-MMb/d peak in 2019 — a fast-rising gas-to-oil ratio (GOR) has increased the volumes of NGLs-rich associated gas being produced. (More on Bakken GORs and the play’s gas production outlook in a moment.)

The Bakken East Pipeline Project

We covered the NGL-pipeline angle in July 2025’s Two Gunslingers. That same month we told the gas-pipeline story in Torn Between Two (Pipelines), which focused on competing proposals by WBI Energy (the Bakken East Pipeline) and a combo of Intensity Infrastructure Partners and Rainbow Energy Center (the Intensity Pipeline) to develop new gas takeaway capacity from the Bakken production region in western North Dakota to the Fargo area at the eastern edge of the state.

In a twist we discussed in that blog, the North Dakota Industrial Commission (NDIC) — eager to encourage more in-state use of the Bakken’s gas bounty — undertook a competitive evaluation process to determine which pipeline proposal would receive up to $500 million in state support via a 10-year, $50 million/year commitment for about 150 MMcf/d of capacity on the new pipe.

The three-member NDIC, comprised of the state’s governor, attorney general and agriculture commissioner, in August 2025 unanimously picked WBI Energy’s two-phase, 343-mile Bakken East proposal (dashed pink and red lines in Figure 1 below), citing the company’s experience in developing and operating gas pipelines and the financial strength of WBI’s corporate parent, Bismarck, ND-based MDU Resources, which also owns four electric and/or gas utilities from Minnesota to Washington state. In addition, the commission determined that WBI was more likely to secure the commercial commitments needed to make the project a “go.”

For Wednesday Morning -- Posted Tuesday, October 13, 2026

Locator: 51939B.

WSJ's Nicole Nguyen first impressions of Apple's new smart home display (for the record, my first impressions, "wow"), link here; 

  • "...CarPlay for the home."
  • "iPhone-like experience tailored to life inside and shared among multiple people."

*****************************
Back to the Bakken 

WTI: $94.84.

News wells reporting:

  • Thursday, October 15, 2026: 36 for the month, 36 for the quarter, 535 for the year, 
    • 42563, conf, XTO, GBU Sophia Federal 44X-10BN, 
    • 42230, conf, Whiting, Cliffside Federal 5103 41-7 3B, 
    • 41913, conf, Devon, Scha 33-34 5H,  
    • 41768, conf, Oasis, Davidson 5795 31-33 6BX,
    • 41767, conf, Oasis, Davidson 5795 31-33 5B, 
  • Wednesday, October 14, 2026: 31 for the month, 31 for the quarter, 530 for the year, 
    • 42562, conf, XTO, GBU Sophia 44X-103E-N
    • 42226, conf, Whiting, Paulson 5104 44-13 3B, 
    • 41766, conf, Oasis, Davidson 5795 31-33 4B, 

RBN Energy: will a newly sanctioned pipeline give the Bakken a big surplus of gas takeaway? Link here. Archived.

The developer of a planned natural gas pipeline across North Dakota has reached a final investment decision (FID) after securing long-term, demand-side commitments for almost all its 1.4 Bcf/d of capacity. The question is, with crude oil-focused drilling activity in the Bakken flat despite elevated WTI prices, will WBI Energy’s roughly $3 billion Bakken East Pipeline leave the play with way too much gas takeaway space? In today’s RBN blog, we’ll discuss the pipeline project, the financial support the state of North Dakota is providing, and the conflicting forecasts for crude oil and associated gas production in the Bakken.

Over the past 15 years we’ve written frequently about the ongoing need to build more midstream infrastructure to serve Bakken production. Crude oil gathering systems and takeaway pipelines. Crude-by-rail terminals. Gas gathering systems and gas processing plants. And, most recently, natural gas and NGL pipelines. Why? Because while Bakken oil production has been holding steady at about 1.2 MMb/d — well below the play’s 1.5-MMb/d peak in 2019 — a fast-rising gas-to-oil ratio (GOR) has increased the volumes of NGLs-rich associated gas being produced. (More on Bakken GORs and the play’s gas production outlook in a moment.)

The Bakken East Pipeline Project

We covered the NGL-pipeline angle in July 2025’s Two Gunslingers. That same month we told the gas-pipeline story in Torn Between Two (Pipelines), which focused on competing proposals by WBI Energy (the Bakken East Pipeline) and a combo of Intensity Infrastructure Partners and Rainbow Energy Center (the Intensity Pipeline) to develop new gas takeaway capacity from the Bakken production region in western North Dakota to the Fargo area at the eastern edge of the state.

In a twist we discussed in that blog, the North Dakota Industrial Commission (NDIC) — eager to encourage more in-state use of the Bakken’s gas bounty — undertook a competitive evaluation process to determine which pipeline proposal would receive up to $500 million in state support via a 10-year, $50 million/year commitment for about 150 MMcf/d of capacity on the new pipe.

The three-member NDIC, comprised of the state’s governor, attorney general and agriculture commissioner, in August 2025 unanimously picked WBI Energy’s two-phase, 343-mile Bakken East proposal (dashed pink and red lines in Figure 1 below), citing the company’s experience in developing and operating gas pipelines and the financial strength of WBI’s corporate parent, Bismarck, ND-based MDU Resources, which also owns four electric and/or gas utilities from Minnesota to Washington state. In addition, the commission determined that WBI was more likely to secure the commercial commitments needed to make the project a “go.”

Four Bedtime Stories -- October 14, 2026

Locator: 51938TECH.

The bedtime "stories: 

  • ASML reports earnings at 12:00 midnight tonight central time tonight -- less than two hours from now;
  • COLA announcement for social security, and military to follow shortly, tomorrow, October 14, 2026 -- likely to be 3.5%;
  • MU: some good words for the company; more on that later;
  • MANGOS: another tech ETF to be announced; this one might be a winner.

See disclaimer. 

********************************
Disclaimer

Briefly: 

  • I am inappropriately exuberant about the Bakken and I am often well out front of my headlights. I am often appropriately accused of hyperbole when it comes to the Bakken.
  • I am inappropriately exuberant about the US economy and the US market.
  • I am also inappropriately exuberant about all things Apple.
  • See disclaimer. This is not an investment site. 
  • Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If something appears wrong, it probably is. Feel free to fact check everything.
  • If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 
  • Reminder: I am inappropriately exuberant about the Bakken, US economy, and the US market.
  • I am also inappropriately exuberant about all things Apple. 
  • And now, Nvidia, also. I am also inappropriately exuberant about all things Nvidia. Nvidia is a metonym for AI and/or the sixth industrial revolution. 
  • I've now added Broadcom to the disclaimer. I am also inappropriately exuberant about all things Broadcom. Now, I've added Amazon. And QCOM. Nothing on this site should be seen as recommendations for the general public. On the other hand, I have no problem if members of my extended family "see" recommendations I might be making - but only members of my extended family, limited to my children and my grandchildren.
  • Longer version here.
  • ****************************
    Futures

    Right now: 

    • AAPL: down $1 / share;
    • WTI: up another dollar; now trading just over $95;
      • everything suggests things are going to get a whole lot worse before things improve; 
    • CVX: down 44 cents;
      FANG
      : down 15 cents; 
    • MPC: after hitting a 52-week high today (up $18), is up another buck tonight;
    • MU: the bleeding has stopped; 
    • SCCO: not to worry. 

    ************************
    More On MU

    Shay posted, link here: "Elon Musk said MU has been "reasonable" on future memory pricing while others have been "extortionate" and that customers won't forget how they were treated. 

     ************************
    A New Tech ETF

    That new ETF, from Evan, link here: recently launched, MANGOS (trades as MN). See this PR release, link here. Currently trading for about $25. 

    • Meta Platforms
    • Anthropic
    • Nvidia
    • Google
    • OpenAI
    • SpaceX 

    Four New Permits -- October 13, 2026

    Locator: 51937B.

    WTI: $94.76. This is closer to $120 than it is to $60.

    Active rigs: 33.

    Four new permits, #43402 - #43405, inclusive -- 

    • Operators: Petro-Hunt, Silver Hill Energy Operating,
    • Fields: Skabo oil field, Frazier oil field, Leaf Mountain oil field,
    • Comments: 
      • Joyce, lot 2, section 4-160-98, 271 FNL 2159 FEL; 
      • Bissonnette, lot 1, section 3-160-98, 445 FNL 310 FEL;
      • Avalanche, SESW 15-161-93, 729 FSL 1467 FWL;
      • LFM1, SESW 15-161-93, 694 FSL 1467 FWL;

    Three permits renewed:

    • 40270, MinnKota Power Coop, NRDT, MinnKota Center. Oliver County East Center Carbon Dioxide.
    • 42350, KODA Resources, Amber 2203-1BH, Fertile Valley, Divide County.
    • 42351, KODA Resources, Amber 2203-2BH, Fertile Valley, Divide County.

    Name changes:

    • Phoenix Operating changed the name of the "Hobbit"wells to "PK" wells. 

    A Stocking Stuffer Just In Time For Christmas -- Finally -- The Apple Home Gadget Looks Like A Winner -- Finally -- Digital Photo Frame -- October 13, 2026

    Locator: 51936APPLE.

    For my discussion with Gemini on this device, link here. Link: https://share.google/aimode/pPEwinHBHfecbDm6F.  

    If Oprah is still doing her "favorite things," Apple's HomeView will be on her list. This comes out just in time for Christmas this year.  

    Link here. 

    It appears with Apple's new HomeView, we can put photos on view and they will probably rotate through at a certain rate of speed (i.e., a digital photo frame).