Rig activity in Oklahoma and the U.S. increased in the past week according to the latest report from the Baker Hughes Co. Oklahoma’s count grew by 2 to 46, far more than the 14 rigs reported a year ago at this time. Nationally, the count increased by 7 to 576. The number of oil rigs …
Crude oil makes best advancement since August
Crude oil prices rebounded again on Friday reaching their best weekly gain since August while some Oklahoma energy stocks made modest gains. The advancement in crude prices was again attributed to easing concerns over the impact on global economic growth and fuel demand by the Omicron coronavirus variant. West Texas Intermediate crude for January delivery …
Other energy news headlines for Monday
** The Biden administration has ordered U.S. government agencies to immediately stop financing new carbon-intensive fossil fuel projects overseas and prioritize global collaborations to deploy clean energy technology, according to U.S. diplomatic cables. ** South Dakota utility regulators gave the go-ahead for NorthWestern Energy to partner with BrightMark Full Circle RNG to develop the state’s first renewable natural gas …
Crude oil slips while Oklahoma energy stocks suffer
After climbing above the $71 mark earlier this week, crude oil in the U.S. dropped in Thursday’s trading. Oklahoma energy stocks recorded a lot of losses on the day. West Texas Intermediate crude fell $1.75 or 2.42% to finish the day at $70.61 on the New York Mercantile Exchange. Global benchmark Brent crude was …
Continental Resources one of most active rig operators in US
Figures from Enverus Rig Analytics show the active U.S. rig count fell to 674 in the past week but at the same time also indicated that Oklahoma City-based Continental Resources is one of the most active operators in the nation. Enverus explained its count of active rigs declined by one but the count is …
Extreme high fire dangers exist in western Oklahoma
The lack of rain and dry conditions combined with the expected return of strong winds on Friday make for a high fire danger across western Oklahoma. The region hasn’t received any rainfall in more than a month and Oklahoma Climatologist Gary McManus, writing in his daily weather update on Thursday said an approaching cold …
Supreme Court’s January hearing could be critical to Oklahoma
A Jan. 7 conference hearing by the U.S. Supreme Court could be critical to so many questions regarding Oklahoma’s energy regulatory powers following the court’s controversial McGirt ruling last year that returned some enforcement powers to Indian tribes. The Oklahoman reported this week the high court could decide after the hearing whether to reconsider …
Gasoline hits $2.91 average in Oklahoma
Gasoline prices have dropped in the past week and the American Automobile Association says it’s because of growing fears about COVID-19 and what it might do to the world economy. Oklahoma gasoline prices are among those that slid over the past several days as the state’s average price is $2.91 per gallon, down about …
Cushing still holds less than half of its crude oil storage potential
The supply of crude oil at the Cushing hub in northern Oklahoma increased slightly in the past week, reaching more than 30 million barrels of oil. The late petroleum supply report by the U.S. Energy Information Administration showed 30,917,000 million barrels of oil were in storage at Cushing. It compared to 28,917,000 million barrels …
EIA predicts lower crude oil prices in December
A lower price for crude oil is in the forecast for the next few months from the U.S. Energy Information Admininstration. In a report this week, the EIA said the smaller expected inventory draw from December 2021 through February 2022 will also contributed to the lower prices. The forecast said global petroleum inventory draws …
