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Crude Oil Surges on Monday as Current Demand Outweighs Supply
Oil futures staged a resurgence on Monday, jumping more than 3% as traders heralded the recent news of a supply shortfall, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, June West Texas Intermediate crude gained $1.40, or 3.3%, to $47.72 a barrel. That was the highest settlement since early November. July Brent crude, …
Completion Reports May 17, 2016
ELLIS COUNTY Jones Energy Llc Cleveland(7386): Oil 157 Gas 410 Water 387 Pump 22 20N 25W Packers 22 6h, September 20, 2015 HH, OIL, TD: 12941 ft Lat: 36.18833, Long: -99.85120 API: 35045235880001 Jones Energy Llc Cleveland(8322): Oil 39 Gas 259 Water 308 Pump 22 20N 25W Packers 22 5h, September 10, 2015 HH, OIL, …
Permits to Drill May 17, 2016
Blaine County MCBEE #1-3H, May 13 2016 10 15N 12W SENWNWNE API: 01123603 Lat: 35.796666824674816, Long: -98.46169331875001 CONTINENTAL RESOURCES INC HH, DR, 16135 ft, MISSISSIPPIAN(11220) Grady County MICHELLE ABEL #1-11-2XH, May 16 2016 11 3N 6W NWNENENE API: 05124037 Lat: 34.74761368199109, Long: -97.79222172082798 MARATHON OIL COMPANY HH, DR, 23362 ft, MORROW(10887), SPRINGER(12791), MISS (DEEP)(12815) Kingfisher …
Williams Files New Lawsuit Against Merger Partner, ETE
The acrimonious proposed merger between The Williams Companies, Inc. and Energy Transfer Equity, L.P. continues to unravel, with the filing of a new lawsuit by Williams in a Delaware state court. Williams announced late Friday that it filed a declaratory judgment action to prevent the company from terminating the controversial merger and forcing ETE to …
Linn Energy Seeks Chapter 11 Bankruptcy Protection in Texas
Linn Energy, LLC announced Wednesday that it filed for Chapter 11 bankruptcy after entering into a Restructuring Support Agreement with its lenders to obtain new financing and restructure debt. In its petition filed in the U.S. Bankruptcy Court in Victoria, Texas, the Houston-based oil and gas producer said its assets are worth approximately $11.6 billion, …
Crude Oil Prices Fall on Friday, Rise for the Week
Despite a recent upswing in oil futures, crude prices fell on Friday as investors feared that producers may increase output, according to Bloomberg MarketWatch. June West Texas Intermediate crude lost 49 cents, or 1.1%, to end trade on the New York Mercantile Exchange at $46.21 a barrel. WTI crude bounced back from last week, posting …
Completion Reports May 16, 2016
DEWEY COUNTY Sandridge Exploration & Production Llc 8 17N 17W Gore 8-2, December 22, 2015 SH, PLUG, TD: 8109 ft Lat: 35.96874, Long: -99.03669 API: 35043224280002 GARFIELD COUNTY Sandridge Exploration & Production Llc 26 24N 7W Gray 2-26, January 16, 2016 SH, PLUG, TD: 6792 ft Lat: 36.52477, Long: -97.92112 API: 35047241020002 Sandridge Exploration & …
Permits to Drill May 16, 2016
Canadian County KANON #1H-15-22, May 13 2016 10 11N 6W NESWSESE API: 01724904 Lat: 35.43636968249904, Long: -97.81552611342849 CITIZEN ENERGY II LLC HH, DR, 19700 ft, WOODFORD(9000) Kingfisher County GARRETT 1605 #6A-36MH, May 13 2016 36 16N 5W NENENWNE API: 07325299 Lat: 35.826872604818554, Long: -97.67933581970647 OKLAHOMA ENERGY ACQUISITIONS LP HH, DR, 11766 ft, MISS’AN (EX CHESTER)(6643) …
Oklahoma Senate Passes Bill Eliminating Tax Credit for Distressed Wells
A bill passed by the Oklahoma Senate on Thursday would eliminate a tax rebate for economically at-risk oil wells, resulting in a savings of over $130 million for the state. The bill — SB 1577 — authored by Senate President Pro Tempore Brian Bingman and House of Representatives Speaker Jeff Hickman, was approved by a …
Crude Oil Futures Continue to Rise on Thursday
Oil futures maintained positive momentum on Thursday, settling at over $46 a barrel after achieving a new six-month record, according to Bloomberg MarketWatch. Oil prices have seesawed recently due to a myriad of issues including Iran’s efforts to boost production yield, outages causing a decline in global production and a continued dip in crude inventories. …
