Crude: ARGUS Bakken price assessment

Crude: ARGUS Bakken price assessment

The ARGUS Bakken price assessment

The Argus Bakken price assessment represents Bakken-quality light sweet crude produced in North Dakota and Montana. Bakken production of 1.2mn b/d is third only to the Permian and Eagle Ford basins in Texas and New Mexico.

Bakken production output

Argus’ daily assessments give the price of Bakken at the North Dakota injection points to the Dakota Access Pipeline (DAPL) and at the Patoka, Illinois pipeline hub; and for Light Sweet crude at the Guernsey blending and storage hub. Argus also prices Bakken at the mid-continent logistics hubs of Cushing and Clearbrook and at the Gulf Coast trading hub at Nederland/Beaumont, Texas, where cargoes can be loaded for export.

Since DAPL was opened in 2017, about 80% of Bakken crude moves to market by pipeline, making the injection points and logistical hubs particularly valuable locations for price discovery. Post pandemic, Bakken crude production has risen by a third from 900,000 b/d to 1.2mn b/d and Illinois regulators recently approved an expansion of DAPL capacity from 750,000b/d currently to 1mn b/d.

The introduction of independent, third-party price assessments will help market participants to transact, invest and manage risk with confidence both domestically and internationally. Argus now covers Bakken from the wellhead to the water at the request of market participants, capturing liquidity from both brokered and bilateral trades.

The new Bakken prices are published daily as part of the Argus Americas Crude service.

How is the Argus Bakken price assessment used?

The Argus Bakken price assessment is used routinely as a pricing element in term physical contracts in the Bakken region. The Argus Bakken at Cushing price assessment also provides the settlement mechanism for financial contracts listed on the CME exchange.

Who should use the Argus Bakken price assessment?

The grade is actively traded in the Midcontinent, Rockies and the Gulf coast, and sold to domestic and international refiners. Traders, risk managers, planners, analysts, finance officers, senior executives, national, independent and international oil companies, regulators, exchanges and government officials use the Argus Bakken price assessment.


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