(Tyler Hicks/The New York Times) The growing war between Russia and Ukraine, on top of the fighting in the Middle East, added to increased worries and sent crude oil prices up nearly 1% on Friday. It resulted in prices settling at a two week high. Both WTI and Brent finished up about 6% for the …
The Arkansas Public Service Commission voted this week to support a nearly $88 million rate hike for Summit Utilities. But regulators decided the hike won’t be allowed to take effect until after winter. Arkansas Business reported the $87.7 million annual rate hike mean a 23.4% increase but half of it will be delayed …
Empire Petroleum announced Friday it had increased its loan ability from $10 million up to $20 million as part of its Revolver Loan Agreement with Equity Bank. The Tulsa company said the increase is effective through Dec. 29, 2026. Empire, according to the announcement, has approximately $8.4 million borrowed on the $20.0 million facility. The …
(REUTERS/Chris Helgren) The $22.5 billion acquisition of Marathon Oil Corporation by ConocoPhillips has been put to bed. It’s a done deal. ConocoPhllips announced Friday it had completed the acquisition. “This acquisition of Marathon Oil is a perfect fit for ConocoPhillips, adding to our deep, durable and diverse portfolio while meeting our strict financial framework,” said …
If North Dakota Gov. Doug Burgum is confirmed as the next Interior Secretary, he is likely to allow increased oil and gas drilling on federal lands, something the Biden administration wouldn’t allow over the past three and one-half years. However, the industry feels like Burgum will be successful in his endeavor to support …
