Category: Oil & Gas

Anadarko Increases Deepwater Gulf Assets

Houston-based Anadarko Petroleum Corp. says it’s paying $2 billion to acquire the deepwater Gulf of Mexico assets belonging to Freeport McMoRan Oil and Gas which is a subsidiary of Freeport-McMoRan Inc. based in Phoenix. The deal is to be concluded before year’s end and will double Anadarko’s ownership in the Lucius deepwater development to 49 …

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Total Replaces Chesapeake Energy in Barnett Shale

With the pullout of Oklahoma City’s Chesapeake Energy from the Barnett Shale, Total, the French-owned oil company is moving in to replace it. As a result, France’s largest oil company will be the only company with hydraulic fracturing in the Barnett. Ironically, Total is not allowed to conduct hydraulic fracturing in Europe. In order to …

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5,000 Drilled but Uncompleted Wells in the U.S.

A new report by the federal government indicates there are nearly 5,000 drilled but uncompleted wells nationally. The U.S. Energy Information Administration released its monthly Drilling Productivity Report showing DUC counts at the end of august totaled 4,117 in the four oil-dominant regions. Another 914 are in the three-gas-dominant regions. The estimated DUC count in …

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OSAGE Tribe Reviewing EPA Well Shutdown Plan

An Osage tribal leader is reviewing earthquake and wastewater injection well plans produced in the wake of the historic 5.8 magnitude earthquake near Pawnee. At the same time, Everett Waller, Chairman of the Osage Minerals Council is promising to do what he can to protect his people. “The safety and welfare of our people is …

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Federal Intervention on Oil Pipeline Project Unprecedented

BISMARCK, N.D. (AP) — The Standing Rock Sioux’s effort to block a four-state oil pipeline got a lifeline when the federal government temporarily stopped the project, a move some say likely may forever change the way all energy infrastructure projects are reviewed in the future. Just minutes after U.S. District Judge James Boasberg denied the Standing Rock Sioux …

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Meister Issues Open Letter to Three New Williams Board Members

Corvex Management activist investor and former Williams Companies board member, Keith Meister, has fired a second shot at the Tulsa-based pipeline company. In yet another open letter to Williams’ three newly appointed independent directors, Meister urged them to form a strategic review committee in order to examine the merits of a possible strategic consolidation, according to …

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News of Crude Oil Supply Decline Lifts Oil Futures on Monday

Oil futures settled higher Monday as they received a boost after data revealed that crude oil supplies fell by more than 1.2 million barrels as of the week ending September 9, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude tacked on 41 cents, or 0.9%, to settle at …

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Trump Fundraiser in Norman Hosted by Oklahoma Energy Dignitaries

Republican presidential candidate Donald J. Trump is scheduled to attend a campaign fundraiser in Norman on Saturday, September 17 near the University of Oklahoma campus. The venue isn’t listed on the invitation but it will be within walking distance of the OU campus, where the No. 14-ranked Sooners will host the No. 3-ranked Ohio State …

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WTI, Brent Crude End Lower on Friday, Higher for the Week

Oil futures repeated a similar pattern for the last few weeks on Friday, settling lower for the day but higher for the week, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude fell $1.74, or 3.7%, to settle at $45.88 a barrel. For the week, WTI saw a gain of …

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WPX Energy Files Fraud and Trademark Infringement Lawsuit Against Impostor

Tulsa-based WPX Energy filed a federal lawsuit Tuesday against an unknown individual for trademark infringement and related fraud, according to a report in The Tulsa World. The suit was filed in the U.S. District Court for the Northern District of Oklahoma against John Doe, an unknown defendant. The lawsuit alleges that the scammer intentionally violated …

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