Ovintiv Mid-Continent Inc. offered evidence in the past few weeks that it remained active in 2020 despite the COVID-19 pandemic that caused a near total shutdown of the oil and gas exploration in Oklahoma and the rest of the U.S. The latest example? A completion report showed Ovintiv came up with a nearly 1,500-barrel …
Crude oil futures finished up nearly 1% on Friday to end the week after several days of gains in prices in the U.S. and overseas. They also hit their highest mark in a year and are closer to the $60 mark. Investors and producers have high hopes the gains will continue in the coming week. …
The number of active oil and gas rigs in Oklahoma remained at 18 over the past week with no increase in activity. But Baker Hughes reported that nationally, the numbers increased by 8 to reach 392 including an increase of four oil rigs to 299 and four more gas drilling rigs to 92. Canada …
President Biden’s cancellation of the Keystone XL pipeline could result in increased railway traffic carrying crude from Canada south through the U.S. and maybe Oklahoma and eventually to the Gulf Coast refineries. Canadian railway executives certainly believe there will be increased shipments of crude oil by rail. The head of Canadian Pacific Railway certainly …
Road damage caused by heavy oilfield truck traffic has the attention of Marlow State Rep. Brad Boles who has legislation to change funding to help cities and towns pay for road repairs. His bill came as the result of an interim study last year. Rep. Boles’ bill would focus on reapportioning some of the …
Tulsa’s NGL Energy Partners LP announced it has closed on more than $2 billion in newly issued senior notes and also acquired a new $500 million asset-based revolving credit facility that matures in 2026. The company said the $2.05 billion is on 7.5% senior secured notes due 2026. The proceeds from the notes and …
Crude oil futures rose again in Thursday’s trading but it didn’t translate strongly for many energy stocks. West Texas Intermediate crude rose 54 cents to finish the day at $56.23 a barrel for March delivery on the New York Mercantile Exchange. Global benchmark Brent crude saw a 38 cent increase to $58.84 barrel for …
The US rig count increased by eight in the last week to 430 according to the latest report from Enverus Rig Analytics. It also showed Oklahoma City’s Continental Resources increased its numbers in the Williston from two to three rigs. Enverus said Continental had been operating only two rigs since May 2020. The Williston …
Oklahoma City’s Devon Energy is among at least 20 oil and gas exploration companies being notified by the New Mexico Environmental Department of required licensing over the management of radioactive materials. The New Mexico Environment Department launched a compliance initiative to ensure oil and natural gas companies are properly licensed and in compliance with …
The Oklahoma economy is clearly not immune to the fiscal impact of the pandemic, as is illustrated in January Gross Receipts to the Treasury — down by the largest margin in eight months reported Treasurer Randy McDaniel. Collections from the gross production tax on crude oil and natural gas followed a more than yearlong pattern, falling by almost 35 percent, to …
