Yet again, Canada is leading the way with the addition of 110 new rigs last week while the U.S. rig count fell by a total of six, according to the Baker Hughes rig count released on Friday. Canada now has a total of 315 rigs, up 88 rigs when compared with last year’s count of …
January 2017 archive
WTI, Brent Crude Futures Decline on Friday as Natural Gas Rebounds
Crude oil futures settled lower on Friday as traders were skeptical about compliance with the OPEC production cut, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude fell by 64 cents, or 1.2%, to settle at $52.37 a barrel. For the week, prices saw a weekly decline of about 3%. …
Anadarko Petroleum Dumps $2 billion in Eagleford Shale Assets
Houston-based Anadarko Petroleum has sold its Eagleford Shale assets in South Texas for nearly $2.3 billion to Sanchez Energy Corporation and Blackstone Group LP. It means the company is saying goodbye to exploration in the Eagle Ford .At one time, the Eagle Ford was one of the biggest producing shale areas in Texas. Under terms …
Devon to Release Earnings Report in February
From Devon Energy—–word that it will issue its fourth-quarter and full-year 2016 earnings release on Tuesday, Feb. 14. The Oklahoma City-based company says the release will be made after the close of U.S. financial markets on that day. A day later on the 15th, the company will hold a conference call at 10 a.m. central …
Another Wind Farm Becomes Operational in Oklahoma
EDF Renewable Energy’s Great Western Wind Project located in northwest Oklahoma went into operation in the past few weeks. The project will provide Google under a long-term Power Purchase Agreement with EDF, a firm headquartered in San Diego, California. Commercial operations started Dec. 21 and involve 93 separate wind turbines. They are capable of generating …
$600 million Public Offering by Tulsa’s WPX Energy
Tulsa-based WPX Energy has announced a public offering of 45,000,000 shares of common stock for nearly $600.8 million. At the same time, the company has announced it’s moving ahead with the purchase of 120,000 acres in the Delaware Basin in west Texas. The purchase includes 23 producing wells. The company said Friday it has granted …
Record Natural Gas Deliveries by Transco
A record amount of natural gas was delivered by Transco interstate gas pipeline to meet demand during the recent cold weather along the Eastern Seaboard. Transco, owned by Tulsa-based Williams Partners L.P. announced it delivered 13.7 million dekatherms on Jan. 8. The previous peak-day level was 13.5 million dekatherms set on Jan. 7, 2015. The …
Lankford Expects Noisy Confirmation Hearing for Pruitt but Predicts He’ll be Confirmed to Run the EPA
A prediction from Oklahoma U.S. Sen. James Lankford—-Scott Pruitt will be confirmed as the new Administrator of the U.S. Environmental Protection Agency. “I do think he’ll be confirmed,” said Lankford in an interview with OK Energy today’s Jerry Bohnen. “I do think it’ll be noisy. I think it’ll be contentious but I do think that …
Pruitt Practices for Confirmation Hearing
Ever since he was nominated to become the chief of the Environmental Protection Agency, Oklahoma Attorney General Scott Pruitt’s not made many public comments. He’s met with Senators on Capitol Hill as he prepares for Wednesday’s confirmation hearing to be held by the Senate Environment and Public Works Committee. Environmentalists and some Democratic Senators are …
Inhofe says Pruitt’s Qualified for the Job of EPA Administrator
The nation will get a good view of Oklahoma Attorney General Scott Pruitt this week as he goes before a U.S. Senate confirmation hearing to become the new administrator of the U.S. Environmental Protection Agency. “He’s qualified for the job,” said Sen. Jim Inhofe in a recent interview with CBS News. The Republican Senator …