Crude oil futures rose on Wednesday after government data confirmed that oil inventories fell for a ninth week in a row, according to a Bloomberg MarketWatch report. On the New York Mercantile Exchange, August West Texas Intermediate crude tacked on 29 cents, or 0.7%, to end trading at $44.94 a barrel. The contract, which expired …
July 20, 2016 archive
Blueknight Purchases Ergon Asphalt Terminals for $108.8 Million; Ergon Acquires Blueknight’s General Partner
Oklahoma City-based Blueknight Energy Partners, L.P. announced it’s buying nine asphalt terminals for nearly $109 million from Ergon, Inc., a company based in Jackson, Mississippi. In turn, Ergon is acquiring Blueknight’s general partner. Ergon was established in 1954 and is involved in asphalt, crude oil and refined products. The nine terminals are located in Wolcott, …
Completion Reports July 21, 2016
BLAINE COUNTY Marathon Oil Company Meramac(9093): Oil 1363 Gas 1755 Water 655 Flow 27 17N 10W Olive June 1-27xh, May 29, 2016 HH, OIL, TD: 20022 ft Lat: 35.92637, Long: -98.26233 API: 35011235640000 Marathon Oil Company Mississippian(8372): Oil 1466 Gas 2474 Water 862 Flow 27 17N 10W Irven John 1-27xh, May 29, 2016 HH, OIL, …
Permits to Drill July 21, 2016
Caddo County RUCKMAN #2H-20, July 18 2016 29 11N 12W SENWNENW API: 01523270 Lat: 35.40516433521576, Long: -98.49404899114406 EXCALIBUR RESOURCES LLC HH, AM, 15250 ft, MARCHAND(9950) Creek County YARGEE #4, July 20 2016 05 18N 7E SWNWNWNW API: 03729345 Lat: 36.074003857237855, Long: -96.60133831460197 WELCH ENERGY LLC SH, DR, 3100 ft, LAYTON(1518), CLEVELAND(1832), PRUE(2280), SKINNER(2380), PINK LIME(2458), …
Halliburton Reports Lower Earnings Worldwide
Halliburton’s second quarter earnings report shows a 15 percent drop in North America revenue but company leaders remain optimistic. Revenues totaled $1.5 billion and the operating loss came to $124 million. “Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the …
GOP Focuses on States Rights in Energy Platform
Calling itself the part of America’s growers, producers, farmers, ranchers, foresters, miners, commercial fishermen and all those who bring from the earth the crops, minerals and energy, the Republican Party unveiled its party platform this week in Cleveland. “We look in vain within the Democratic Party for leaders who will speak for the people of …
Big Gas Wells Drilled in SE Oklahoma
Among the latest moderately producing big wells in the state are two gas wells in Hughes County, Tulsa-based Petroquest Energy LLC reports two big gas wells near the community of Lamar. The largest is producing 3,884 mcf of natural gas. The LYNN well is in the Woodford play and had a January 12 spud date …
Work Underway for SOER’s 20th annual Oil and Gas Expo
It’s about two and a half months off, but work’s underway for the 20th Oil and Gas Expo in Oklahoma City sponsored by the Oklahoma Energy Resources Board and its organization called Sustaining Oklahoma’s Energy Resources. “Despite the downturn in the oil and gas industry, we’re still expecting a full crowd for the anniversary show,” …
U.S. Crude Oil Drops to 10-Week Low on Tuesday
Oil futures fell on Tuesday as skittish traders responded to the increasing glut of crude oil inventories with easing energy demand, according to Bloomberg MarketWatch. August West Texas Intermediate crude dropped 59 cents, or 1.3%, to settle at $44.65 a barrel on the New York Mercantile Exchange, its lowest close since May 9. On the …