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Oil Futures Post 8% Weekly Gain
Oil futures ended sharply higher Friday, boosted by expectations U.S. production will continue to decline, signs of solid underlying demand and some renewed optimism about the U.S. economy.
On the New York Mercantile Exchange, West Texas Intermediate …
Nation’s Rig Count Tumbled by 7 while Oklahoma Added 2 in Past Week
Oklahoma’s oil and gas rig count increased by two in the past week to reach 63 while the nation’s count fell by 7, settling at 443, according to figures released by Baker Hughes Company of Houston, Texas. Oklahoma and New Mexico were the only two regio…
Nearly $1 billion Sale of WPX Subsidiary is Announced
A $910 million sale of a Colorado subsidiary of Tulsa-based WPX Energy was announced by the company. The sale of WPX Energy Rocky Mountain LLC was to Terra Energy Partners LLC and boosts the liquidity of WPX, improving its capital efficiency and return…
Williams Wins FERC Approval for Controversial New Jersey Pipeline
Tulsa-based Williams Co. received approval this week from federal regulators to move forward with a $116 million natural gas expansion project that faces opposition in New Jersey. The Federal Energy Regulatory Commission voted to give the company a cer…
Enable to Release Quarterly Financial Results
Oklahoma City-based Enable Midstream Partners, LP plans to release its first-quarter 2016 financial results before market hours on Wednesday, May 4. It will also host a conference call the same day at 10 a.m. to discuss the results.
Enable operates ne…
Former Employee Accused of Stealing Data from Continental Resources
Continental Resources has gone to court, filing a lawsuit against former employee, Levi Pack, a geologist accused of uploading company data and creating a program to give him remote access to Continental data on his cell phone.
The suit was filed in O…
Moody’s Downgrades OKC’s Chaparral Energy
For a second time in the past year, Chaparral Energy, Inc. in Oklahoma City has been downgraded by Moody’s Investors Service. The Probability of Default Rating was dropped from Ca-PD to C-PD/LD and its Corporate Family Rating went from Ca to C while th…
Repairs are Made to Leaking TransCanada Oil Pipeline
The leak of a TransCanada pipeline that carries oil to Cushing and eventually down the southern leg of the Keystone pipeline to the Gulf Coast involved about 17,000 gallons of oil, according to an announcement by TransCanada.
The leak occurred in a fi…
OERB Completes Number 15,000 Abandoned Well Site
The Oklahoma Energy Resources Board is preparing to observe what it calls a “significant milestone,”….the completion and cleanup of its 15,000th abandoned well site in the state.
It plans a special ceremony on April 13 at the site just east of the B…
Oil Futures Lose Ground Amid Output Freeze Concerns
Oil futures ended lower Thursday, failing to extend gains to a third straight day as doubts lingered about the global economic outlook, according to Bloomberg MarketWatch.
On the New York Mercantile Exchange, West Texas Intermediate futures fell 49 ce…