Higher closes marked Thursday’s trading for oil and gas prices and they resulted from strong US economic data. Still, they might have been slowed by worries regarding lower oil imports from China. US benchmark West Texas Intermediate crude gained 69 cents or 0.89% to close at $78.28 a barrel on the New York Mercantile Exchange. …
On the same day Helmerich & Payne announced a nearly $2 billion acquisition of a Scotland-based firm with a heavy presence of oil exploration in the Middle East, the Tulsa company reported quarterly net income of $89 million or 88 cents a share….an improvement over the first quarter of 2024. It came as …
Tulsa’s Helmerich & Payne just expanded its worldwide oil and gas exploration business with a $1.9725 billion cash acquisition of KCA Deutag International Limited, a global drilling company based in Abeerdeen, Scotland. The acquisition will give H&P more ability to reach the Middle East where KCA Deutag has a “significant land drilling presence,” stated …
A new report shows increased use of natural gas to power electric generators across the U.S. which typically would mean good news for natural gas producers in Oklahoma and elsewhere. However, natural gas prices remain low. Below is the latest data from the U.S. Energy Information Administration. U.S. power plant operators generated 6.9 million …
A $28 million plan is being launched in Wyoming to create biogas from sugar beets. The company behind the effort is Cowboy Clean Fuels LLC based in Denver. It has the clean energy operation under construction in Wyoming’s Powder River Basin after receiving $13 million in venture capital money from a former Texas oilman …
** The Environmental Protection Agency (EPA) on Wednesday proposed designating one of the toxic substances spilled by a train derailment in East Palestine, Ohio, as a high-priority chemical under the Toxic Substances Control Act, the next step to a full ban. Vinyl chloride, a hazardous substance used in the production of plastics, is one of …
Focusing on an acreage acquisition strategy, Fort Worth-based PHX Minerals Inc. will reveal in August whether its plans are paying off for investors. The company intends to release its second quarter earnings results after the close of markets on Wednesday, August 7. Management will discuss the results the next day during a conference call, …
Considered the world’s largest lithium producer, Albemarle Corp. just cemented its standing as it won approval this week from the Arkansas Oil and Gas Commission to begin testing its lithium extraction processes in southern Arkansas and not pay commercial production royalties. Albemarle has a plant located in Magnolia, part of the Smackover play in …
Crude oil prices might have reversed its three consecutive trading sessions of losses with small gains on Wednesday, but Oklahoma energy stocks had a bad day in trading. Falling US crude inventories sparked some of the oil increases but so did growing supply riskes from Canadian wildfires, according to Reuters, as prices remained close to …
A surprise drop in crude oil held in storage across the U.S. and at the Cushing Hub in Oklahoma was reported this week by the U.S. Energy Information Administration. Nationally, there was a loss of 3.7 million barrels of crude oil from Jully 12 to July 19, the most recent reporting period. The EIA …
