Profit Takers Turn Crude Prices Lower on Friday

Profit taking pushed crude prices lower on Friday. April West Texas Intermediate crude on the New York Mercantile Exchange lost 29 cents to end trade at $32.78 a barrel. On the London ICE Futures Exchange, April Brent crude fell 19 cents to settle at $…

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Rig Losses Slow Nationwide and Remain Steady in Oklahoma

The nation lost more rigs in the oil and gas industry in the past week while the losses leveled off in Oklahoma, according to the latest data from Baker Hughes Company of Houston, Texas.
Oklahoma remained at 73 but was still far below the count of 146…

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Manufacturing Industry Hurt by Energy Downturn

Closing at its lowest mark since 2009, the Tenth District Manufacturing Survey for February was released. The survey reflected a continued pattern of deterioration over the past few months coming from both durable and nondurable goods factories.
“Ener…

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LNG Shipped from Lower 48

The first international shipment of liquefied natural gas from the lower 48 states of the U.S. went to Brazil, marking a significant point in U.S. energy history because it shows the strength of the nation’s natural gas production, production tha…

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Optimism at Chesapeake Energy after Jump in Stock Prices

Financial analysts like what financially-troubled Chesapeake Energy is doing to avoid bankruptcy. Investors apparently do too. Stock prices for the Oklahoma City-based company jumped 50 cents in mid-week trading after the firm announced in its q…

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Halliburton Laying Off 5,000 More Workers

Another 5,000 workers are being let go by Houston-based Halliburton. It’s on top of the 9,000 laid off in the past year during the energy downturn. A company spokeswoman indicated that the latest roun of layoffs will represent nearly 8 percent …

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Energy Tax Credits Among Those up for Review by State Incentive Commission

The newly-created Tax Incentive Commission in Oklahoma has started reviewing nearly $2 billion in tax incentives and credits including those for the state’s wind industry as the state government reacts two two revenue failures.
The commission held its…

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Rep. Morrissette to Make Run for Corporation Commission

Lost in the past week’s appearance by environmental activist Erin Brockovich at an earthquake forum in Edmond was the announcement by host, Rep. Richard Morrissette, D-OKC that he planned to run for the Oklahoma Corporation Commission.
The man who’s l…

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$6.5 million Judgment Against Pipeline Companies Over Wildfire

A jury in Stillwater has ordered two pipeline companies to pay more than $6 million in damages over a 2012 wildfire that was sparked by welders ignoring a day-old statewide burn ban.
The jury ordered IPS Engineering L.L.C. and Global Pipeline Co…

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Another Promise of a Production Meeting Sends Crude Higher Thursday

Another promise of a meeting, another rally on the crude markets. April West Texas Intermediate crude added 92 cents on Thursday to settle at $33.07 a barrel on the New York Mercantile Exchange. April Brent crude gained 88 cents to end trade at $35.29 …

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