Author's posts
Jericho Announces $4 Million Acquisition in Northern Oklahoma
Vancouver-based Jericho Oil Corporation announced its joint venture affiliate, Eagle Road Oil, LLC, has signed an agreement to acquire operated and non-operated producing wells and drillable leaseholds in central Oklahoma for a cash consideration of $3.951 million, according to a company press release. Jericho will receive a cash consideration of $1.975 million. The agreement is …
Inter Pipeline to Acquire Canadian Assets of Williams for More Than $1 Billion
The Williams Companies and Williams Partners announced an agreement on Monday to sell their Canadian businesses to Calgary-based Inter Pipeline for over $1 billion. The sale includes extraction and processing facilities in the Alberta oil sands as well as nearly 260 miles of pipelines. Inter Pipeline’s purchase will allow the company to expand its natural …
New Pipeline Will Carry Sweet Crude Oil from Cushing to Memphis
International pipe manufacturer Welspun Tubular and Diamond Pipeline LLC announced on Monday that Welspun received a $47 million order to assist with construction of a 440-mile 20-inch pipeline that will carry domestic sweet crude from the Cushing, Oklahoma storage facility to Valero’s refinery located in Memphis, Tennessee. The $900 million Diamond Pipeline will be capable …
News of September OPEC Meeting Sends Oil Futures Soaring on Monday
Oil futures jumped on Monday as OPEC announced it will meet at the 15th International Energy Forum in Algeria next month in order to discuss how to bring stability to the volatile crude oil market, according to Bloomberg MarketWatch. September West Texas Intermediate crude rose $1.22, or 2.9%, to settle at $43.02 a barrel on …
Completion Reports August 9, 2016
DEWEY COUNTY Tapstone Energy Llc Mississippian(10460): Oil 78 Gas 2584 Water 3562 Flow 27 19N 20W Salisbury 27-19-20 1h, July 07, 2016 HH, GAS, TD: 17838 ft Lat: 36.08726, Long: -99.32667 API: 35043234570000 GRADY COUNTY Citizen Energy Ii Llc Mississippian: Oil 544 Gas 1942 Water 1077 Flow 29 10N 5W Osborn 1h-19, November 14, 2015 …
Permits to Drill August 9, 2016
Ellis County WORD #1-31H, August 08 2016 30 18N 24W SESWSWSW API: 04523621 Lat: 35.999307071910934, Long: -99.8082453996676 PPP PETROLEUM LP HH, DR, 14157 ft, CLEVELAND(9319) Jackson County CANAM #13, February 01 2016 13 1N 20W SENWNWSW API: 06520292 Lat: 34.55700428312255, Long: -99.2616278636004 FULCRUM EXPLORATION LLC SH, AM, 3400 ft, PERMIAN GRANITE WASH(810), CISCO(1500), CANYON(2040), STRAWN(2360), …
WTI and Brent Crude Post Lower Settlements on Friday
Crude oil futures ended lower on Friday following a volatile week of trading in a bear market, according to a report by Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude lost 13 cents, or 0.3%, to settle at $41.80 a barrel. On the London ICE Futures Exchange, October Brent crude, …
Greenspan: Oil Has Bottomed Out at $40 a Barrel
Former Federal Reserve Chairman Alan Greenspan shared his belief that oil prices have bottomed out near $40 a barrel since oil futures have entered a bear market while settlements tumbled more than 20 percent in the past two months. “It’s hard for me to imagine it going very much lower, but it could,” said Greenspan …
Nearly 200,000 Jobs Lost in Energy Sector Since Downturn
While consumers enjoy lower fuel prices associated with the energy downturn, cheap oil is to blame for the loss of nearly 200,000 jobs, according to a report issued on Thursday by outplacement firm Challenger, Gray & Christmas, Inc. Almost 95,000 jobs have been eliminated in 2016 by energy companies, according to the Chicago-based firm. Most …
Continental’s Harold Hamm Pegged as Trump Key Advisor
Republican presidential nominee Donald Trump identified Oklahoma City’s Continental Resources Inc. CEO Harold Hamm as a core member of his economic policy advisors on Friday. Trump’s hand-picked team of economic advisors are well-known industry executives in the financial, banking, real estate, manufacturing and energy sectors. In addition to Hamm, Trump’s 13-member advisory team includes: Dan …