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Instability of OPEC Production Deal Drives Oil Futures Down on Friday
Oil futures ended at a six-week low on Friday as OPEC plans to reduce production appear on the verge of collapse, according to Bloomberg MarketWatch. December West Texas Intermediate crude fell 59 cents, or 1.3%, to settle at $44.07 a barrel on the New York Mercantile Exchange, after tapping a low of $43.57. Futures lost …
Cushing Shook by 5.0 Magnitude Earthquake on Sunday Evening
Cushing was rattled with a large earthquake on Sunday evening, according to data from the U.S. Geological Survey. The USGS preliminary report was a 5.3 magnitude but it has been downgraded to a 5.0 magnitude earthquake. The temblor struck Payne County at approximately 7:44 p.m. Its epicenter was located one mile west of Cushing. It …
America’s Plan to Speed Up Charging Infrastructure and Rollout of Electric Vehicles
The White House announced new actions to accelerate the deployment of electric vehicles and charging infrastructure on Friday. The U.S. Department of Transportation’s Federal Highway Administration is designating 48 EV charging corridors along 25,000 miles of interstate highways to make it easier for drivers to switch to electric vehicles and cut greenhouse gas emissions in …
SEC Report Shows Chesapeake Named in Two New Federal Lawsuits
Oklahoma City-based Chesapeake Energy Corporation is the target of two separate legal actions filed in October, according to a quarterly report filed with the U.S. Securities and Exchange Commission on Friday. In the company’s Form 10-Q filed on November 3, Chesapeake confirmed it received a voluntary document request from the SEC seeking information on its …
Completion Reports November 7, 2016
CARTER COUNTY Citation Oil & Gas Corporation 15 4S 3W Healdton Iv Unit (Coffey) 25-3, June 10, 2016 SH, TA, TD: 1150 ft Lat: 34.20799, Long: -97.50936 API: 35019090950001 Citation Oil & Gas Corporation 4 4S 3W Dundee Healdton Sand Unit 15-4, June 10, 2016 SH, TA, TD: 1115 ft Lat: 34.23280, Long: -97.52511 …
Permits to Drill November 7, 2016
Blaine County VERONA #3-23-14XH, November 03 2016 26 16N 10W SENENWNW API: 01123681 Lat: 35.84011928267911, Long: -98.2385845954155 CONTINENTAL RESOURCES INC HH, DR, 20521 ft, MISSISSIPPIAN(10155) Blaine County VERONA #2-23-14XH, November 03 2016 26 16N 10W SENENWNW API: 01123680 Lat: 35.84011928597793, Long: -98.23868580726703 CONTINENTAL RESOURCES INC HH, DR, 20418 ft, MISSISSIPPIAN(10052) Canadian County EILEEN #1H-14X, November …
Supply Glut Forces Oil Futures Lower on Thursday
Crude oil futures dropped lower on Thursday after a record rise in stockpiles continued to wreak havoc on the market, according to Bloomberg MarketWatch. “We are getting EIA hangover,” said Phil Flynn, senior market analyst at Price Futures Group, referring to the supply data. On the New York Mercantile Exchange, December West Texas Intermediate crude lost …
LSB Reports 3Q Operating Results, Evaluates Potential Sale
Oklahoma City-based LSB Industries, Inc. announced an adjusted net loss of $57.3 million, or $2.12 cents per diluted share for the third quarter of 2016, according to the company’s earnings statements issued Thursday. In a separate announcement, LSB indicated that it is evaluating the possibility of a sale or merger as it expects only modest …
Completion Reports November 4, 2016
GRADY COUNTY Lime Rock Resources Ii-a Lp 27 7N 8W Norge Marchand Unit 51-1, October 25, 2016 SH, INJ, TD: 10807 ft Lat: 35.04704, Long: -98.03801 API: 35051201750002 KAY COUNTY International Energy Company Llc Mississippian(3922): Oil 3 Gas 1 Water 22 Pump 12 25N 1E Steichen 12-1a, May 26, 2016 SH, OIL, TD: 4298 …
Permits to Drill November 4, 2016
Alfalfa County KEPHART SWD #1-29, November 03 2016 29 25N 11W NWNWNWNE API: 00323263 Lat: 36.62260943148027, Long: -98.40496192590916 AEXCO PETROLEUM INC SH, DR, 5400 ft, TONKAWA(4750), COTTAGE GROVE(5140) Beckham County TWIN #1-32, November 02 2016 32 11N 25W NWNESESW API: 00921391 Lat: 35.381781250559804, Long: -99.86972852140049 ENERVEST OPERATING LLC SH, RC, 15600 ft, GRANITE WASH LOW(13970) …