The Colorado Oil and Gas Conservation Commission is considering new rules for thousands of oil and gas pipelines following last year’s fatal explosion in a newly developed neighborhood addition in the town of Firestone. Investigators said the explosion was caused by odorless, unrefined gas leaking from a severed flow line. Colorado regulators met on Monday …
Category: Oil & Gas
Icahn Spars With SandRidge in Attempt to Gain Seat on the Board
Corporate raider and activist investor Carl Icahn is at it again. In an open letter to Oklahoma City-based SandRidge Energy, Icahn is seeking the ability to appoint a member on the oil and gas company’s board of directors, according to a news report by The Oklahoman. Icahn spent over $82 million in October and November …
Crude Oil Futures Soar on Tuesday as WTI Settles Nears $63 a Barrel
Crude oil futures continued to rally on Tuesday as favorable forecasts extended gains and drove prices to a three-year high, according to Bloomberg MarketWatch. February West Texas Intermediate crude jumped $1.23, or 2%, to settle at $62.96 a barrel on the New York Mercantile Exchange, marking its highest finish since December of 2014. March Brent crude, …
Crude Oil Futures Rebound on Monday
Oil prices finished higher on Monday, adding to last week’s rally as traders welcomed data showing a weekly decline in the number of U.S. drilling rigs. February West Texas Intermediate crude rose 29 cents, or 0.5%, to settle at $61.73 a barrel on the New York Mercantile Exchange. March Brent crude, the global benchmark, added 16 cents, …
SemGroup Exits Asphalt Business to Focus on Houston Oil Terminal Acquisition
Tulsa-based SemGroup Corporation will sell its asphalt business, SemMaterials México, to Ergon Asfaltos México HC, LLC, for an estimated $70 million including a reimbursement of nearly $15 million of net working capital, according to a company press release issued on Monday. SemGroup intends to use proceeds from the sale toward its capital raise plan associated …
EnLink Follows Succession Plan, Makes Leadership Changes
Dallas-based EnLink Midstream companies recently announced several changes in executive leadership management, according to a company press release issued on Wednesday. EnLink’s Boards of Directors appointed Barry E. Davis to Executive Chairman, Michael J. Garberding to President and Chief Executive Officer, and Eric D. Batchelder to Executive Vice President and Chief Financial Officer. These transitions resulted from the company’s succession process, …
SandRidge COO Sells Nearly 23,000 Shares of Stock
The Chief Operating Officer of Oklahoma City-based SandRidge Energy, Inc. recently sold 22,803 shares of stock valued at nearly half a million dollars. According to a legal filing dated Friday, January 5, 2018 with the U.S. Securities and Exchange Commission, John Patrick Suter sold 22,803 shares of common stock at an average price of $20.73 …
Williams’ Transco Pipeline Sets Record During East Coast Winter Storm
Tulsa-based Williams Partners L.P. delivered a record-breaking 15.58 million dekatherms (MMdt) via the nation’s largest-volume natural gas transmission system on Friday, January 5, 2018, according to a company press release issued on Monday. Williams utilized its Transco interstate gas pipeline to provide essential services to gas distribution companies, power generators and other customers located along …
WTI, Brent Crude Fall on Friday, Post Third Straight Weekly Gain
Crude oil futures settled lower on Friday but held firm with a third consecutive weekly gain after rising to their highest settlements in three years on Thursday, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude fell 57 cents, or 0.9%, to settle at $61.41 a barrel. For the …
ONEOK Invests $1.4 Billion in Elk Creek Pipeline in Rocky Mountains
Tulsa-based ONEOK, Inc. will invest approximately $1.4 billion to construct a new pipeline to transport natural gas liquids (NGLs) from the Rocky Mountain region to the company’s existing Mid-Continent NGL facilities, according to a company press release issued on Thursday. The Elk Creek Pipeline will span nearly 900-miles via a 20-inch diameter pipeline. The project is expected …