October 2, 2016 archive

Oil Futures End Week and Month on Higher Note Despite Quarterly Loss

Oil futures finished higher on Friday, with prices achieving a second-straight monthly gain but suffering from the first quarterly loss of the year, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, November West Texas Intermediate crude added 41 cents, or 0.9%, to settle at $48.24 a barrel. Tracking the front-month contracts, prices fell nearly …

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Devon Energy Dumps Membership in OIPA Claiming ‘Inequity’ in the Group’s Membership Structure

  A shocker for the Oklahoma Independent Petroleum Association where Oklahoma City-based Devon Energy has dropped its membership claiming the group does not apparently do enough for those who make large capital investments in the state. “This decision arose from our serious concerns with OIPA’s ability to be an effective advocate for the significant capital investments …

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Rig Counts Grew in U.S. and Oklahoma in the past Week.

  The latest weekly rig report by Houston-based Baker Hughes Company, an oil and gas servicing firm shows the U.S. rig count grew by eleven over the past week reaching a total of 522. Oklahoma’s count grew by one to  hit 68. However, it should be noted the rig count is based on activity of …

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