Roundup: Investor Eyes TotalEnergies, Oil Prices Fall, LNG Project Advances

Czech billionaire Daniel Kretinsky's investment vehicle sees potential to increase its stake in TotalEnergies SE, a major operator in the Bakken formation. According to Rigzone, Kretinsky stated, "Given that we currently own a stake of less than 5 percent, if we felt the need to further diversify, we could continue increasing our stake in Total." The report was published May 30, 2026. TotalEnergies is a significant player in North Dakota, and increased investment interest can signal long-term confidence in its portfolio, which includes Bakken assets.

Meanwhile, oil markets faced downward pressure as crude settled at a six-week low on May 29. Rigzone reported that traders were betting on the potential reopening of the Strait of Hormuz as truce negotiations continued. Lower benchmark prices directly impact the cash flow and drilling economics for Bakken producers, potentially influencing near-term activity levels in the Williston Basin.

In related infrastructure news, CB&I has won a contract to build five large LNG storage tanks for the Commonwealth LNG export project in Louisiana, Rigzone reported May 29. While this Gulf Coast project is not in the Bakken, the expansion of U.S. LNG export capacity supports broader natural gas demand. This is relevant for Bakken operators who produce associated gas, as it reinforces long-term market outlets for natural gas, which can influence well economics and flaring reduction efforts in North Dakota.

These developments highlight the interconnected factors influencing the Bakken, from corporate investment and volatile crude prices to the growing infrastructure for natural gas.