July 13, 2017 archive

Rally Continues on Thursday for Crude Oil Futures

Oil continued its rebound on Thursday as traders found support from the largest weekly decline for domestic crude inventories in nearly a year coupled with a forecast for stronger growth in demand through the end of 2017, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, August West Texas Intermediate crude tacked on 59 cents, …

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Permits to Drill July 14, 2017

  Canadian County FRED 1409 #1-2MH, July 13 2017 02 14N 9W NENWNENE API: 01725043 Lat: 35.72478843723896, Long: -98.12172379309669 MARATHON OIL COMPANY HH, DR, 14988 ft, MISSISSIPPI SOLID(9850) Canadian County JASMINE 2_11-11N-8W #1HX, July 13 2017 02 11N 8W NENENENE API: 01725042 Lat: 35.463581790548695, Long: -98.00857748644515 DEVON ENERGY PRODUCTION CO LP HH, DR, 21165 ft, WOODFORD(10907) Dewey …

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Small Operators in Permian Basin Feel the Pinch With $45 Oil

While crude oil prices bounce around the $45 a barrel mark, it’s making life tough for some small independents as they seek to find black gold in the Permian Basin in west Texas. The Houston Chronicle reports some are thinking of delaying exploration projects as money is tight. The paper quoted James Mayer, founder and …

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Coal Train Derails Near Eastern Town of Okay

The good news is no one was hurt. The bad news is more than two dozen train cars loaded with coal derailed Wednesday afternoon near the Wagoner County town of Okay. The Union Pacific Railroad said 27 cars derailed and some flipped onto their sides while others remained upright. An estimated 2,000 feet of track …

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Work Moves Ahead on Upgrading Mustang Power Plant

In about two months, the first of seven new turbines being installed as part of a massive upgrading of OGE’s Mustang Power Plant will be “fired up.” The company’s in the middle of the project that started nearly 18 months ago to replace turbines put in place in the 1950s. An estimated 350 employees are …

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Pruitt Labels Germany’s Nuclear Power Plant Move as “Hyprocisy”

EPA Administrator Scott Pruitt has political tongues wagging in Washington, D-C. after saying German Chancellor Angela Merkel’s move to phase out her country’s nuclear power plants is hypocritical. And she likely won’t be saying, “das gut” in response. “I just think the hypocrisy runs rampant,” he said in an interview with Politico. “To look at us …

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“Intrinsic Fraud” in Pooling Case Back Before Corporation Commission

An Administrative Law Judge at the Oklahoma Corporation Commission is set to hold a pooling hearing on Friday in a nearly decade old legal fight between two exploration companies that involved what the courts ruled to be “intrinsic fraud.” It’s a fight between Denver, Colorado-based Optima Oil and Gas and Mewbourne Oil Company, a Tyler, …

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Bobcat Paid the Price for Its Pole Climbing

It’s not unusual to hear of a snake slithering into a power station and causing a power outage. But how about the bobcat found dead hanging from a 35-foot power pole in southwest Kansas. A line crew with Wheatland Electric made the discovery this week near the town of Lakin. The bobcat apparently climbed up …

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WTI, Brent Crude Settlements Post Gains on Wednesday as Oil Inventories Drop Below 500 Million Barrels

Crude prices surged higher on Wednesday as government data reports confirmed a sharp decline in domestic oil for a second consecutive week, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, August West Texas Intermediate crude climbed 45 cents, or 1%, to settle at $45.49 a barrel. On the London ICE Futures Exchange, September Brent …

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