Reading a Bloomberg News article about how Wells Fargo Bank and Wall Street misjudged the oil boom of 2014 reminds one of how the same thing happened in the early 1980s in Oklahoma, leading to the Penn Square Bank collapse. Bank executives in th…
April 2016 archive
Bloomberg News—-How Wall Street Misjudged the Oil Boom
Reading a Bloomberg News article about how Wells Fargo Bank and Wall Street misjudged the oil boom of 2014 reminds one of how the same thing happened in the early 1980s in Oklahoma, leading to the Penn Square Bank collapse. Bank executives in the 80s …
Energy XXI Latest to File Bankruptcy Amidst Energy Downturn
Another oil and gas producer has gone to bankruptcy court, trying to resolve its billions in debt. Houston, Texas based Energy XXI filed for Chapter 11 restructuring in federal bankruptcy court this week in Houston, trying to eliminate $2.8 billi…
Energy XXI Latest to File Bankruptcy Amidst Energy Downturn
Another oil and gas producer has gone to bankruptcy court, trying to resolve its billions in debt. Houston, Texas based Energy XXI filed for Chapter 11 restructuring in federal bankruptcy court this week in Houston, trying to eliminate $2.8 billion in …
Recycling Firm Relocation to Duncan Means New Jobs
A ribbon-cutting ceremony is planned Monday in Duncan for a company that intends to expand to 100 workers within the year, according to the Duncan Area Economic Development Foundation.
Duncan Recycling and Refining, known locally as DR2 is relocating …
Ethanol Production Drops Nationally to 8-month Low
The nation’s output of ethanol production was the lowest in the past week since the week of September 18, 2015, according to figures released this week by the U.S. Energy Information Administration.
Production averaged 938,000 barrels a day or 3…
Ethanol Production Drops Nationally to 8-month Low
The nation’s output of ethanol production was the lowest in the past week since the week of September 18, 2015, according to figures released this week by the U.S. Energy Information Administration.
Production averaged 938,000 barrels a day or 39.40 m…
Tulsa’s Golden Driller Statute Started Out Anything But a Driller
Tulsa is celebrating the 50th anniversary of the Tulsa Golden Driller, the 76-foot tall, 22-ton statue, one of the tallest in the U.S. While the statue of the driller with his right arm resting on an oil derrick is considered to be one of the most pho…
Sen. Lankford Says He Still Doesn’t Trust Iran in Nuclear Agreement
In a speech this week to the U.S. Senate, Oklahoma U.S. Senator James Lankford pointed out world-wide terrorism involves the oil and gas industry—and that the controversial nuclear deal the Obama administration made with Iran directly affects Oklahom…
Oil Logs A Loss After Three Days of Gains
Oil futures settled with a loss on Wednesday, putting an end to three sessions of gains as weekly data showed a hefty jump in U.S. crude supplies, according to Bloomberg MarketWatch.
Prices finished off the session’s lows, finding support from decline…