Crude oil futures closed out Tuesday on a higher note as OPEC forecasted higher demand with lower production next year, according to Bloomberg MarketWatch. August West Texas Intermediate crude climbed $2.04, or 4.6%, to end trading at $46.80 a barrel on the New York Mercantile Exchange, reaching its highest finish in nearly a week. On …
July 12, 2016 archive
Permits to Drill July 13, 2016
Canadian County BAUSTERT #1H-2920X, July 12 2016 30 11N 7W SWSESESE API: 01724917 Lat: 35.39216971081582, Long: -97.97469046583399 CIMAREX ENERGY CO HH, DR, 19202 ft, MISSISSIPPIAN(10634), WOODFORD(10856), HUNTON(11405) Canadian County QUERENCIA 27-14-7 #1WH, July 12 2016 27 14N 7W SWSWSWSW API: 01724920 Lat: 35.65370627681012, Long: -97.94049627581855 CASILLAS OPERATING LLC HH, DR, 14286 ft, WOODFORD(9196), HUNTON(9296) Canadian …
WPX Energy Site Afire in New Mexico
Nearly three dozen oil storage tanks remained burning Tuesday at a new WPX Energy site in northwestern New Mexico. The fire broke out late Monday night near the small community of Nageezi where 36 oil storage tanks caught fire, prompting a shutdown of the WPX Energy operation. Evacuations of neighboring homes were made. About 50 …
Chesapeake Energy’s Divestiture Steps Earn Improved Rating at One Investment Firm
Steps taken by executive leadership at Oklahoma City-based Chesapeake Energy have resulted in an improved status given the company by the investment bank and asset management firm Piper Jaffray. Chesapeake’s been upgraded from Underweight to Neutral because analysts at Piper Jaffray believe the natural gas producer’s recent actions have “diminished” its default risk over the …
What the Federal Government Predicts about Future Oil/Gas Production
The government’s forecasting U.S. petroleum and other liquid fuels production will only grow in the coming decades. The U.S. Energy Information Administration predicts the production will grow from 14.8 million barrels a day in 2015 to 18.6 million barrels a day by 2040. The prediction comes in the EIA’s Annual energy Outlook 2016. And what does …
Construction Starts on Largest Solar Energy Project in Midwest
Oklahoma has yet to get a commercial solar operation but solar remains of high interest in the Midwest. Now construction has started on the largest solar energy project in the Midwest is underway in Chisago County, Minnesota. There, D.E. Shaw Renewable Investments, LLC acquired the 100 MW North Star Solar Project from Community Energy, Inc. …
Indian Energy Focus of Summit in Tulsa
National U.S. Energy Department officials are gathered this week in Tulsa for a summit on Indian Energy. The U.S. Department of Energy Office of Indian Energy is hosting the session entitled “Tribal Energy: Strategic Roadmap 2015” at the Reservation Economic Summit. It will continue through July 14. The last such National Tribal Energy Summit was …
One Bankrupt Company Fighting Another Bankrupt Company
Oklahoma City-based SandRidge Energy Inc. finds itself in a legal battle with a geologic information company that filed Chapter 11 bankruptcy in the federal courts in Houston, Texas. It’s a case of one bankrupt company doing battle with another bankrupt company over a contract. WesternGeco LLC is asking a bankruptcy judge to allow the firm …
Senators Contend Future is Bright for Nuclear Energy
Writing in the U.S. News and World Report recently, Oklahoma U.S. Sen. Jim Inhofe and three others boasted of a new nuclear renaissance, stating that the “future of nuclear energy in the U.S. is bright.” Inhofe was joined by Democratic Sen. Sheldon Whitehouse of Rhode Island, Republican Sen. Mike Crapo of Idaho and Sen. Cory …
Oklahoma Has 2nd Cheapest Gasoline Prices in U.S.
Oklahoma gasoline prices are down to a new statewide average of $2.02 a gallon, a drop of nearly 5 cents in the past week, according to AAA Oklahoma. It means Oklahoma has some of the cheapest gasoline in the country. Nationally, prices are at their lowest mark for the date since 2004, coming in …
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