A government report showing U.S. crude inventories fell 2.62 million barrels last week sparked a big jump in oil futures as they reached their highest level in six weeks in Wednesday’s trading. Futures rose 2.6 percent in Wednesday’s trading on the New York Mercantile Exchange as oil rose $1.63 per barrel, settling at an April …
The announcement this week by SandRidge Energy that it would not accept any merger proposal from Tulsa-based Midstates Petroleum drew only a brief response from Midstates. The company issued a statement following the rejection by SandRidge Energy. “Midstates Petroleum continues to believe in the merits of the SandRidge Energy transaction proposed on February 6, 2018. …
Democratic State Representatives who have pushed for higher gross production taxes on oil and gas applauded this week’s Supreme Court decision allowing an initiative petition for a vote of the people to raise the taxes. “This initiative represents the last stand for teachers,” said Minority Leader Steve Kouplen, D-Beggs. “In the absence of a substantial …
Oklahoma City’s Devon Energy announced this week it had made more than $807 million in tender offers in a previously-announced move to purchase senior notes as part of an effort to cut the company’s debt load. The offer was made March 7 and the deadline was March 20. Devon also amended the offers to increase …
Oklahoma Congressman Jim Bridenstine got the support of at least 61 other House members this week in his nomination by President Trump to become the next Administrator of NASA. The 61, including Oklahoma Representatives Frank Lucas and Steve Russell, urged Senate leadership to confirm Bridenstine who is in the midst of his second nomination by …
EPA Chief Scott Pruitt says how the government has handled the Tar Creek Superfund site is “really unacceptable.” It’s what he said in a roundtable meeting with several reporters from news organizations including the Tulsa World, noting how the site dates back to the early 1980s. “You don’t list a site in the mid-1980s and …
We’ve seen it on a smaller scale in Oklahoma. The success of the STACK and SCOOP oil plays has led to construction of more pipeline services to carry the oil and gas out of the play into storage areas. Now another major pipeline has been announced for the much larger Permian Basin. It’s a $3.7 …
Investors in Tulsa-based Cypress Energy Partners, L.P. are being told the firm will release its latest earnings report on Thursday. The mid-stream company will distribute its earnings press release after the close of trading Thursday afternoon on the New York Stock Exchange. It will then hold an earnings call Friday morning at 9 o’clock to …
Not that we’ll ever see it in Oklahoma, but the idea of floating wind farms is coming to Texas. In Houston, a new company has been created by those with floating wind power experience in the Netherlands. Quest Offshore Resources announced this week the formation of Quest Floating Wind Energy LLC. While the Gulf of …
Figures recently released by the state government in Oklahoma show a slight dip in employment in the state’s energy sector. The Oklahoma Employment Security Commission reported oil and gas employment in Oklahoma City, the city with the largest employment in the sector, dropped more than 1 percent in January 2018. The 1.4% decline occurred from …
