Two water companies located in the Permian Basin in southeast New Mexico have filed suit against the state Land Commissioner accusing him of infringing on water rights dating back more than half a century. The lawsuit was filed by Loco Hills Water Solution and Steve Carter, Inc. against Commissioner Aubrey Dunn. They contend Dunn overstepped …
Oklahoma City-based Mustang Fuel Corporation announced that its midstream subsidiary Mustang Gas Products, LLC is making progress on a $65 million capital upgrade aimed at increasing the capacity, efficiency and reach of its STACK midstream assets, according to a company press release issued on Tuesday. Mustang Fuel’s capital spending program is already underway and will …
Crude oil futures settled flat on Tuesday with very little change as traders awaited weekly supply data, according to Bloomberg MarketWatch. November West Texas Intermediate crude tacked on a penny to settle at $51.88 a barrel on the New York Mercantile Exchange. December Brent crude, the global benchmark, rose 6 cents, or 0.1%, to end trading at …
The federal government is predicting that U.S. crude oil production will average 9.4 million barrels a day in the second half of 2017. The Energy Information Administration says that’s 340,000 barrels a day more than in the first half of the year. The EIA also believes production in 2018 will average 9.9 million barrels a …
Oil prices settled higher on Monday as increased tensions in the Middle East raised concerns over global crude supplies, according to Bloomberg MarketWatch. November West Texas Intermediate crude climbed by 42 cents, or 0.8%, to settle at $51.87 a barrel on the New York Mercantile Exchange. December Brent crude, the global benchmark, gained 65 cents, or …
An Oilfield Day of Prayer last Friday at the Oklahoma Corporation Commission wasn’t met exactly with open arms as protesters gathered at the Jim Thorpe building. As News 9 reporter Jessi Mitchell explained, protesters of oil and gas exploration gathered to oppose the official day first declared last year by Gov. Mary Fallin. Commissioner Bob …
Crude oil futures jumped on Friday as traders weighed the outcome of President Trump’s decision to decertify the Iran nuclear agreement, according to Bloomberg MarketWatch. November West Texas Intermediate crude rose 85 cents, or 1.7%, to settle at $51.45 a barrel on the New York Mercantile Exchange. For the week, WTI was up around 4.4%. December …
Stephens County residents returned to their homes following an evacuation early Saturday morning caused by a natural gas well leak, according to a news report by KWTV-9. On Saturday, Velma Fire Chief Jay Dumas indicated that a buildup of pressure caused the well head to release a vapor cloud of toxic hydrogen sulfide gas into …
A $170 million cash sale of holdings in the North Burbank and Texas Panhandle has been announced by Oklahoma City-based Chaparral Energy, Inc. The company said the sale also included certain contingent payments but it did not reveal the identity of the buyer. “The sale of these assets marks a major milestone in the transition …
Figures from Baker Hughes Co. and the Independent Oil and Gas Service indicate a nationwide drop of at least 8 units in the latest weekly oil and gas rig count. Oklahoma’s count fell by 3 rigs in the past week to reach 124 still seeking new energy. The two rig accounting firms reported a total …
