Devon Energy Corp. agreed to acquire the Williston Basin business of Grayson Mill Energy for $5 billion as consolidation continues in the U.S. oil patch.

Oasis Petroleum Inc. and Whiting Petroleum Corp. agreed to combine, creating a new oil producer focused on North Dakota’s Bakken shale patch with an enterprise value of about $6 billion.

The United States keeps pumping oil at a near-record pace in spite of the collapse in prices over the past year and cutbacks in drilling.

The shale oil boom that pushed U.S. crude production to the highest level in four decades is grinding to a halt.

Oil extended losses to trade below $45 a barrel amid speculation that U.S. crude stockpiles will increase, exacerbating a global supply glut that’s driven prices to the lowest in more than 5½ years.

The federal government has told railroads to avoid using older model tank cars when transporting Bakken crude oil.

The U.S. Department of Transportation issued an emergency order requiring shippers to test product from the Bakken region in North Dakota and Montana to ensure proper classification of crude oil before it is transported by rail.