Category: Oil & Gas

Rebound in Oil Prices

Oil prices recovered slightly in Tuesday’s trading as West Texas Intermediate rose 50 cents and settled for the day at $63.51 per barrel on May futures. Brent crude in  London’s ICE Futures Europe Exchange settled 48 cents higher at $68.12 per barrel on June futures. Natural gas on the New York Mercantile Exchange was up …

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CFO Announces Retirement at Murphy Oil

One of the top executives at Murphy Oil Corporation in El Dorado, Arkansas is retiring after 28 years with the company. John W. Eckart, Executive Vice President and Chief Financial Officer plans to retire later this year. The company has started a search to  find a successor. He joined the company in 1990 as Auditing …

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Increased Earnings for Tallgrass Energy Partners

Kansas City, Kansas  based Tallgrass Energy Partners LP reported an increase in earnings for the 4th quarter of 2017 and for the year itself. Net income for the quarter increased as did income for the year for the oil pipeline company. “Tallgrass Energy delivered another outstanding year in 2017income, meeting the high-end of the Adjusted …

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Vapor Leak Forced Evacuation of Rig Near Chickasha

  A water vapor leak early Sunday morning resulted in the evacuation of a Chickasha oil rig operated by Continental Resources of Oklahoma City. At last report, there were no injuries according to the Grady County Sheriff’s office and Grady County Emergency Management office. The evacuation happened around 5 a.m. Residents of a nearby mobile …

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Expansion of Cushing to Illinois Pipeline System

Operators of a pipeline carrying crude oil from Cushing to Illinois have announced an expansion of their 433-mile line. MPLX LP subsidiaries MPLX Ozark Pipe Line LLC and Marathon Pipe Line LLC announced the start of the open season  for two lines, the Ozark 22-inch and the Woodpat 22-inch line. The open season will continue …

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Federal Government Announces Study in Eagle Ford

WildHorse Resource Development Corporation (NYSE:WRD) announced today that it has been selected for a Department of Energy study alongside the Texas A&M Engineering Experiment Station (TEES) to develop a new field laboratory in the Eagle Ford formation. The team, which has been awarded an $8 million grant from the Department of Energy (DOE) for research …

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Quick Hits in the Industry

  NuStar Energy L.P. based in San Antonio announced the start of its Binding Open Season involving an expansion of its NuStar Permian Transportation and Storage LLC’s Permian Crude System. The expansion will provide more transportation capacity capable of reaching several downstream markets through interconnects at Colorado City, Texas. Ring Energy, based in Midland,  Texas …

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Colorado Regulators Considering New Pipeline Rules After Deadly Home Explosion

The Colorado Oil and Gas Conservation Commission is considering new rules for thousands of oil and gas pipelines following last year’s fatal explosion in a newly developed neighborhood addition in the town of Firestone. Investigators said the explosion was caused by odorless, unrefined gas leaking from a severed flow line. Colorado regulators met on Monday …

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Icahn Spars With SandRidge in Attempt to Gain Seat on the Board

Corporate raider and activist investor Carl Icahn is at it again. In an open letter to Oklahoma City-based SandRidge Energy, Icahn is seeking the ability to appoint a member on the oil and gas company’s board of directors, according to a news report by The Oklahoman. Icahn spent over $82 million in October and November …

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Crude Oil Futures Soar on Tuesday as WTI Settles Nears $63 a Barrel

Crude oil futures continued to rally on Tuesday as favorable forecasts extended gains and drove prices to a three-year high, according to Bloomberg MarketWatch. February West Texas Intermediate crude jumped $1.23, or 2%, to settle at $62.96 a barrel on the New York Mercantile Exchange, marking its highest finish since December of 2014. March Brent crude, …

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