Following news of an unexpected decline in U.S. crude inventories, oil prices on Tuesday rose. West Texas Intermediate on the New York Mercantile Exchange climbed $1.34 to settle at $63.40 per barrel on April contracts. In London on the ICE European exchange, Brent crude wnt up $1.50 to settle at $67.55 on May contracts. Prices …
The waiting begins for the Oklahomans who have long considered a 1989 bribed Corporation Commission vote should result in a nearly $16 billion refund from ATT. After filing an appeal with the U.S. Supreme Court on Monday, the handful of individuals who call themselves Oklahomans Against Bribery indicated their case was one of freedom of …
Oklahoma’s STACK oil play has been the focus of much attention in the state but now it’s under the focus of at least one national news group. Reuters calls it “a little-known shale oil play” despite the fact the three counties that make up the STACK know very well what it means to them. Reuters …
The growing dry conditions in the state have the attention of the U.S. Department of Agriculture which has declared most of the counties in Oklahoma to be natural disaster areas. As the Oklahoma Farm Report on the Oklahoma Radio Network indicated this week, most of the counties in the state are in horribly dry conditions. …
While the legislature’s busy wrangling with proposed increases in the gross production tax on oil and gas, Guthrie Rep. Jason Murphey says he opposes most tax hikes because they only provide cover for the waste of taxpayer dollars. It’s what he claimed in his column written for the McCarville Report. “Specifically, I have repeatedly expressed …
Another sign of what the oil and gas downturn is doing in Texas. Halliburton, the firm that got its start in Oklahoma before relocating headquarters to Houston confirmed it plans to sell one of its campuses. The company will put up for sale the 49-acre Oak Park campus in Houston’s Westchase submarket. The auction will …
Baker Hughes is blaming the downturn in the oil and gas industry for its move to stop production at one of its operations in Lufkin, Texas. Employees at the Buck Creek Rod Lift Systems site some 120 miles north of Houston were informed last month of the move. The shutdown means about 78 out of …
The Oklahoma Supreme Court is allowing a petition drive to have a vote of the people on raising the gross production tax to move forward and the Oklahoma Oil and Gas Association and the Oklahoma Independent Petroleum Association are not happy about it. “It’s easy to look at the oil and natural gas industry for …
Oklahoma City-based SandRidge Energy has rejected the offer by Tulsa’s Midstates Petroleum to merge. In an announcement this week, the oil and gas producer said “the relative asset values of the two companies do not support a combination effected at current stock prices.” Midstates had proposed a stock merger at a 60%/40% exchange ratio. But …
Count Oklahoma Congressman Tom Cole among those supporting President Trump’s plan to increase tariffs on foreign imports of steel and aluminum. Writing in a recent column, the Republican Representative said having open markets is not an invitation for others in the world to take advantage of the U.S. “When bad actors exist, we have every …
