Kretinsky Eyes TotalEnergies Stake, Oil Prices Hit Six-Week Low

Czech billionaire Daniel Kretinsky sees potential to increase his stake in French energy major TotalEnergies, according to a report from Rigzone. Kretinsky, whose holdings are currently below 5 percent, stated that "if we felt the need to further diversify, we could continue increasing our stake in Total." For Bakken operators, major shifts in ownership of global integrated oil companies can signal broader investment trends and potential changes in capital allocation strategies for onshore U.S. assets.

Meanwhile, oil prices settled at a six-week low on Friday, Rigzone reported. The decline was attributed to traders betting on a potential reopening of the Strait of Hormuz as truce negotiations continue. Lower global crude benchmarks directly impact the realized price for Bakken crude, influencing producer cash flow and drilling budgets in North Dakota's premier oil play.

In a separate development, CB&I has won a contract to build five large LNG storage tanks for the Commonwealth LNG export project in Louisiana, Rigzone reported. The contract is for five 1.77 million-cubic foot storage tanks at the facility in Cameron Parish. While this project is on the Gulf Coast, the continued expansion of U.S. LNG export capacity supports long-term natural gas demand. This is relevant for the Bakken formation, which is a significant producer of associated natural gas alongside its crude oil output.

For Bakken-focused companies, these stories highlight a week of contrasting signals. Potential increased investment in a supermajor suggests sustained interest in the energy sector, while near-term price volatility underscores ongoing geopolitical risks. The advancement of LNG infrastructure supports the market for natural gas, a key secondary revenue stream for many operators in the Williston Basin.