Two days after dropping into negative territory, oil prices on Wednesday rose 23% to reach $14.23 a barrel for West Texas Intermediate crude after an increase of $2.66 in trading for the day. Analysts credited an improved investor sentiment to additional stimulus measures passed by the U.S. Senate. Still, the oil market remains broken over …
New figures supplied for one transparent federal government file shows intense lobbying money was spent by the nation’s energy companies including some from Oklahoma. POLITICO reported First-quarter U.S. lobbying totals are rolling in, including tallies for powerful oil-and-gas companies and their trade associations. Why it matters: The filings provide a guide to specific bills and topics companies …
** The Trump administration on Tuesday ordered Chevron Corp. to “wind down” operations in Venezuela by Dec. 1, barring the California-based oil giant in the meantime from drilling or exporting, as the U.S. increases pressure on President Nicolás Maduro to give up power. ** Nearly 30% of U.S. biofuel plants have idled, including four in Minnesota, as gasoline demand …
By a 2-1 vote on Wednesday, the Oklahoma Corporation Commission has allowed a small Tulsa oil company to go ahead and shut in its wells and allow others to do the same. Under the decision, LPD Energy Company sought approval to classify unprofitable production as economic waste as a result of the oil crisis …
Oilman Harold Hamm, the man who founded Continental Resources and has the ear of President Trump to advise him about energy issues thinks the Chicago Mercantile Exchange has done the industry wrong. As The Oklahoman reported Wednesday, Hamm is requesting an investigation of crude oil futures for possible market manipulation, failed systems or computer programming …
New York Congresswoman Alexandria Ocasio-Cortez drew a sharp rebuke this week over her tweet celebrating the dramatic drop in oil prices. And it came from another Democrat—New Mexico U.S. Rep. Xochitl Torres Small who chided AOC for cheering what happened to the oil and gas industry. Small represents New Mexico’s highly conservative southern area …
The saga of Scott Pruitt, the former Oklahoma Attorney General who became the Administrator of the Environmental Protection Agency only to later resign just won’t go away. Now it’s reported that a coal mining company with ties to Pruitt and a handful of companies serving the oil and natural gas industry, are among the beneficiaries …
As oil prices plunged into the $20 range before entering historic negative territory this week, oil producers in North Dakota took the drastic action of shutting in thousands of oil wells—an estimated 5,000. The Associated Press reported that North Dakota’s top oil regulator said Tuesday that nearly a third of the state’s wells have been …
Tulsa’s Ovintiv Mid-Continent Inc. continues with the big finds in Oklahoma, this time reporting a four-well pad in Stephens County that produced more than 2,200 barrels of oil a day. It is the firm’s latest discoveries made immediately prior to the start of the Coronavirus pandemic that shut down a large segment of the …
Devon Energy is preparing to hold its annual shareholders meeting in June and the COVID-19 pandemic has the attention of the company and its board of directors. In a proxy filing with the Securities and Exchange Commission the company took note of how the pandemic has gripped the world. “It is not business as usual …
