Platts Adds Bakken Price Assessment in the Williston Basin to its Shale Offerings

   Platts Adds Bakken Price Assessment in the Williston Basin to its Shale
                                  Offerings

New price marker to reflect expanding crude-by-rail market for Bakken

Complements Platts' Bakken Assessments at Pipeline Injection Points

PR Newswire

HOUSTON, April 23, 2014

HOUSTON, April 23, 2014 /PRNewswire/ --Platts today announced it has expanded
its North American shale crude oil offering to include an assessment of value
nearest the Bakken crude wellhead in the Williston Basin. The new price
assessment captures the value of Bakken crude oil from the Bakken shale
formation at the point where there is transportation flexibility– either by
rail or pipeline.

On April 23, 2014, the first day of its publication, the Platts Bakken
assessment was $91.93 per barrel. The Bakken formation is part of the
Williston Basin of underground petroleum reserves and one of the most
significant new sources of regional crude oil supply for refiners in the
United States and Canada.

"Given the rapid growth in the transportation of crude oil by rail, the
industry was in need of Bakken shale oil value at North Dakota terminals with
the operational capability to move crude by rail or by rail/pipeline," said
Sharmilpal Kaur, Platts associate editorial director of North America oil
markets. "We're pleased to bring transparency to Bakken pricing nearest to the
wellhead just as we are with pipeline interconnection points."

The new assessment complements the nation's first daily spot price assessments
for Bakken shale crude oil, which were launched by Platts in May 2010 and
reflect the value as injected into the pipelines at Clearbrook, Minnesota, and
Guernsey, Wyoming. While pipeline is still a critical transportation method
for moving Bakken to end-users, Bakken crude-by-rail has grown markedly since
2012.

The Platts Bakken assessment reflects the open market spot value of crude oil
as delivered by truck or pipeline to North Dakota terminals for a specific
delivery month. The new assessment captures the value of Bakken crude as close
to the wellhead as possible, before the decision is made on using truck, rail
and /or pipeline to deliver the crude to consumers outside the region. 

"Some 70% of total Bakken production, at one million barrels per day, has
moved by rail thus far in 2014," said Suzanne Evans, Platts Americas price
group senior manager. "But pipelines are sure to stay in play given that
several projects are coming online by 2016. These dual developments call for
price discovery at the point that allows for transportation flexibility and
the largest base of Bakken supply."

The Bakken formation spans North and South Dakota, Montana, Saskatchewan,
Manitoba and Alberta.

Bakken crude oil assessed by Platts has a sulfur content of 0.2% sulfur or
less and an American Petroleum Institute (API)* gravity of 42 or less, similar
to the nature of North Dakota Light Sweet crude. The Bakken price assessments
are underpinned by the highly structured, robust Platts Market-On-Close price
assessment process that results in an end-of-trading-day value.

Platts' Bakken and other crude oil assessments are published in Platts Market
Data, Platts Crude Oil Marketwire, North American Crude and Products Scan, and
Oilgram Price Report. For more information on these products and services,
details of the methodology and/or more information on crude oil, visit the
Platts website at www.platts.com.

*API gravity is a measure of how heavy or light a grade of crude oil is
compared to water.

About Platts: Founded in 1909,Plattsis a leading global provider of energy,
petrochemicals, metals and agriculture information and a premier source of
benchmark prices for the physical and futures markets. Platts' news, pricing,
analytics, commentary andconferenceshelp customers make better-informed
trading and business decisions and help the markets operate with greater
transparency and efficiency. Customers in more than 150 countries benefit
from Platts' coverage of thebiofuels, carbon emissions,
coal,electricity,oil,natural gas,metals,nuclear power,petrochemical,
shippingand sugar markets. A division of McGraw Hill Financial (NYSE: MHFI),
Platts is based in London with approximately 900 employees in more than 15
offices worldwide. Additional information is available
athttp://www.platts.com.

About McGraw Hill Financial: McGraw Hill Financial is a leading financial
intelligence company providing the global capital and commodity markets with
independent benchmarks, credit ratings, portfolio and enterprise risk
solutions, and analytics. The Company's iconic brands include Standard &
Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts,
CRISIL, J.D. Power and McGraw Hill Construction. The Company has approximately
17,000 employees in 29 countries. Additional information is available at
www.mhfi.com.

CONTACT
Kathleen Tanzy
212-904-2860
Kathleen.tanzy@platts.com

SOURCE Platts

Website: http://www.platts.com
Contact: Additional media contact: Elizabeth Catalano at
elizabeth.catalano@platts.com or +44 207 176 6024.
 
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