Tulsa’s Superior Pipeline Company, L.L.C. announced Thursday that it has entered into a long-term, fee-based natural gas gathering and processing agreement with an active producer in the STACK play. The agreement replaces a prior contract with Superior, expanding the producer’s dedication area to approximately 345,000 gross acres. The Cashion system includes two cryogenic processing plants …
Phillips 66 and Phillips 66 Partners have announced a change in the date of its conference call to discuss first-quarter earnings. The two said due to a change in scheduling, the conference call webcast will now be held on Friday, May 1 at 11 a.m. CDT. At that time, the company’s executive management will discuss …
Despite the oil price war and the spreading impact of the coronavirus, Tulsa’s NGL ENergy Partners LP anticipates few changes in its budget for the new fiscal year. In a Thursday announcement, the firm said its fiscal year 2020 adjusted EBITDA should remain unchanged at $565 million to $595 million. It also expects to …
An ominous warning came from Moody’s this week—it’s concerned about the $32 billion wave of oil and gas industry debt that is coming due this year through 2024 in the U.S. Some of that debt involves Oklahoma oil and gas companies. Concerns were mounting about the debt even before oil prices collapsed to a nearly …
More completion reports filed this week with the Oklahoma Corporation Commission show new wells are adding to the existing glut of oil that has led to a massive drop in oil prices. Marathon Oil filed an amended report on the Roser 1611 2-3-34mxh well located at 3 16N 11W in Blaine County, a site about …
While WTI dropped to $20 a barrel in the U.S. oil prices in Canada are much worse—under $8 a barrel. Bloomberg says the benchmark blend of crude produced from Canada’s oil sands plunged to a record low of $7.47 a barrel on Wednesday. Blame the oil price war between Saudi Arabia and Russia and the …
Oil prices plunged to barely above the $20 barrel mark in Wednesday’s trading, a level not seen since 2002. West Texas Intermediate crude dropped $6.58 to $20.37 a barrel, a change of more than 24%. In London, Brent crude dropped $2.29 to $26.44 a barrel for a change of nearly 8%. Natural gas dropped another …
Led by California Rep. Nanette Barragan, 20 House Democrats sent a letter to President Trump this week urging him not to give any government relief to the oil and gas industry as it struggles with plunging oil prices. They did so without support from Oklahoma’s only Democrat in the House, Rep. Kendra Horn. “A …
** The federal government could sell off up to 50,000 acres of public lands in Nevada in an attempt to promote local economic development and other purposes, under a new bill introduced by Rep. Mark Amodei (R) ** More than 50 industry trade associations, environmental groups and think tanks are urging congressional appropriators to provide robust spending …
As oil prices hit the $27 a barrel mark, it has resulted in fast-tumbling prices at Oklahoma gas pumps where the statewide average is down to $1.87 a gallon. But the cheapest gasoline is found in Vinita in the northeast part of the state where the average is down to $1.62 a gallon. Oklahoma’s average …
