Crude futures took another blow on Friday as oil fell again. West Texas Intermediate crude, considered the benchmark of U.S. oil prices fell 66 cents at $52.27 for March delivery. That’s a drop of 1.62%. Global benchmark Brent Crude for March delivery dropped 69 cents and finished the day at $55.41 in trading on …
Unity? “How does this bring us together?” asked a New Mexico leader after President Biden put a 60-day freeze on new oil and natural gas leases and drilling permits on federal land in the state. Carlsbad Mayor Carl Janway made the statement joining a chorus of others in New Mexico who worry the temporary …
Tulsa’s Magellan Midstream Partners, L.P. joined with Houston-based Enterprise Products Partners L.P. in an agreement to jointly develop a futures contract to deliver West Texas Intermediate crude oil from the Permian Basin to terminals in Houston. The two explained the project was in response to market interest for a Houston-based index with what it …
Holly Energy Partners, L.P. announced approval of a 4th quarter cash distribution of 35 cents a unit. The company’s board of directors okayed the distribution to be paid Feb. 12 to unitholders of record on Feb. 2, 2021. Holly Energy said it expects to hold the quarterly distribution constant at 35 cents per unit …
The Oklahoma Energy Resources Board announced it’s again seeking student applications for thousands of dollars in college scholarships to those studying energy-related fields at state universities. Scholarship recipients, part of the OERB Petroleum Scholar Program, are selected through an application process based on their outstanding grades and work ethic. The application period for the …
With oil prices at the $55 a-barrel range, the U.S. rig count increased by 5 in the past week to reach 378 while Oklahoma’s count was unchanged at 17 working oil and gas rigs. The resulting conclusion—there are still a lot of rigs in storage according to the latest weekly numbers from Baker Hughes …
Two of the three U.S. refineries that received biofuels waivers in the last days of the Trump Administration’s EPA belong to the Sinclair Oil Operation and are located in Wyoming. Quoting unnamed sources, Reuters reported the waivers were approved for the 85,000 barrel-per-day Sinclair Wyoming refinery and the 30,000 bpd Sinclair Casper refinery. Reuters …
While President Biden effectively eliminated the Canada-to-US Keystone Xl pipeline, another oil and gas industry pipeline is in the works to carry carbon dioxide across Wyoming. But this one is a carbon-capture line. Supporters describe it as the largest such network approved in North America—that is, if it is developed and not opposed by …
One Oklahoma oil and gas leader, in an “I told you so” response predicted the actions taken by President Biden against the oil and gas industry won’t be the last. Petroleum Alliance of Oklahoma President Brook Simmons said we can expect more. “This is just the start. It will get worse,” he said in …
Oklahoma City’s Devon Energy was one of those oil and gas companies hit by the latest energy attack of the new Biden administration. The administration temporarily suspended oil and gas permitting on federal lands and waters. The move was described as the latest Biden effort to fight climate change and target the fossil fuel …
