January 10, 2017 archive

North Dakota Oilfield Exec Charged With Wire and Securities Fraud

A former North Dakota energy executive is charged in federal court of falsely inflating company revenues by millions of dollars. Dickinson resident, Joseph Kostelecky, is charged in the U.S. District of North Dakota with five counts of wire fraud and one count of securities fraud. He faces a maximum penalty of 20 years in prison …

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Worries About Production Compliance Tied to Lower WTI, Brent Crude Settlements on Tuesday

Crude oil prices plunged on Tuesday to finish the session at their lowest level in nearly five weeks as traders worried about OPEC’s production cut, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude fell by $1.14, or 2.2%, to settle at $50.82 a barrel. On London’s ICE Futures Exchange, …

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EIA Report Suggests US Will Be Net Energy Exporter by 2026

As crude oil and natural gas production continues to rise, the United States could become a net energy exporter by 2026, according to a new report released Thursday by the U.S. Energy Information Administration. Moving forward to 2050, the outlook for the entire energy sector indicates a mass exodus in electricity from coal-fired power plants. …

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Completion Reports January 11, 2017

  BLAINE COUNTY Newfield Exploration Mid-con Inc 14 16N 10W Castonguay 14-16-10 1h, June 15, 2016 HH, OIL, TD: 20203 ft Lat: 35.86939, Long: -98.24176 API: 35011236000001  

Permits to Drill January 11, 2017

  Alfalfa County BRUNER 2412 #1H-09 B, January 10 2017 04 24N 12W SESWSWSE API: 00323269 Lat: 36.57966671469763, Long: -98.4869772166857 MIDSTATES PETROLEUM COMPANY LLC HH, DR, 11200 ft, MISSISSIPPI(6249) Creek County PICKETT/HICKMAN LEASE #10-3, January 10 2017 10 14N 8E CNWSESW API: 03729365 Lat: 35.69987950479899, Long: -96.45344601219304 GIBSON LES SH, DR, 2500 ft, JONES /SD/(1550), …

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OCC Data Links Saltwater Disposal Wells to Earthquake Seismicity

Disposal well operators placed nearly 23 percent less saltwater into Oklahoma’s deepest geological formation within the Arbuckle formation in 2016 compared to the previous year, according to the Tulsa World. The Oklahoma Corporation Commission provided the year-end data reports about the earthquake zone. Commission spokesman Matt Skinner said the 2016 volume numbers are mostly complete, …

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Mammoth Energy Taps Paul Heerwagen as New Board Director

Oklahoma City-based Mammoth Energy Services announced Monday that Paul Heerwagen has been designated as a director effective immediately. Heerwagen will replace Aaron Gaydosik, who resigned from the Board effective January 4, 2017 to pursue other business opportunities. Heerwagen served as Vice President, Corporate Development for Gulfport Energy Corporation where he oversees corporate strategy.  Since joining …

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NGL Energy Partners Finalizes Acquisition of Murphy Oil Assets From Bankruptcy Court

Tulsa-based NGL Energy Partners LP announced Monday that it has completed the acquisition of certain assets of Murphy Energy Corporation. OK Energy Today reported on December 21 that NGL Energy submitted a bid of $51 million to purchase Murphy assets including the Port Hudson, Louisiana Terminal and the Kingfisher, Oklahoma facility. The Port Hudson Terminal is located near Baton …

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Crude Oil Futures Hit the Skids on Monday, Falling to Lowest Level Since Mid-December

Crude oil futures settled at their lowest level since mid-December as OPEC’s production output program weighs on the minds of investors, according to Bloomberg MarketWatch. February West Texas Intermediate crude lost $2.03, or 3.8%, to settle at $51.96 a barrel on the New York Mercantile Exchange. March Brent crude, the global benchmark, fell $2.16, or 3.8%, …

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