Bakken is 'forgotten' basin: Marathon Petroleum

摘要

Conditions bottling up North Dakota's Bakken crude production show few signs of immediate relief, Marathon Petroleum said on its quarterly earnings call. While historic discounts on Canadian and Permian oil production struggling to reach broader markets have gained more attention, light, sweet output in the Bakken basin has once again outstripped pipeline capacity out of the state, senior vice-president Rick Hessling said on a quarterly earnings call. Constraints that have encouraged unseasonably strong discounts this month tied more to logistics than to heavy midcontinent refining maintenance, he said.