September 10, 2022 archive

Justice upholds $155 million interest payment judgment in favor of Oklahoma well owners

  A $155 million judgment in a lawsuit over late payments to 53,000 oil-well owners in Oklahoma was upheld by U.S. Supreme Court Justice Neil Gorsuch. He did so by rejecting a request from pipeline operator Energy transfer LP’s Sunoco Inc. unit to block the judgment. Justice Gorsuch denied Sunoco’s bid to stay proceedings to …

Continue reading »

Slight decline in US rig and Oklahoma rig counts

  The nation’s oil and gas rig count slipped by one in the past week reported Baker Hughes on Friday as most oil and gas plays showed no changes. Only the Permian Basin and the Mississippian recorded changes. The Permian Basin saw a decline of two rigs to 340 while the Mississippian grew by one …

Continue reading »

Oklahoma energy stocks made strong gains along with oil price increases

    As oil prices rebounded 4% on Friday, Oklahoma energy stocks also had a strong day with some firms recording gains of 5%. The price increases came after threats were made to cut crude oil supply worldwide. West Texas Intermediate crude oil for October delivery rose $3.25 or nearly 4% to $86.79 a barrel …

Continue reading »