The drilling activity in Oklahoma’s STACK and SCOOP oil plays has increased so much in the past 7 months, the Anadarko Region’s rate of increase is second only to the Permian Region so far this year. The Anadarko was recently added to the Energy Information Administration’s Drilling Productivity Report. The EIA said the region accounted …
Oil futures plunged on Monday as traders expected a buildup in crude supplies resulting from the refinery shutdowns in the Gulf of Mexico region due to Hurricane Harvey, according to Bloomberg MarketWatch. October West Texas Intermediate crude fell $1.30, or 2.7%, to settle at $46.57 a barrel on the New York Mercantile Exchange. October Brent crude dropped …
Canada led the way with the addition of 3 new rigs last week while the U.S. rig count dropped by a total of six, according to the Baker Hughes rig count released on Friday. Canada now has a total of 217 rigs, up 71 rigs when compared with last year’s count of 46. The U.S. …
Devon Energy has a big multi-unit project in plan as it widens exploration of Oklahoma’s STACK play. As indicated in OK Energy Today’s Well Completion reports, the Oklahoma City energy company has been permitted to move ahead with 7 wells at one site. Permits were granted for Mosasaurus 4-16N-9W, a site located near the unincorporated …
Oil prices ended sharply lower on Thursday due to weak energy demand despite a Gulf of Mexico Category 3 hurricane churning off the Texas coast, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude fell 98 cents, or 2%, to settle at $47.43 a barrel—the lowest finish in a week. …
No letup by Continental Resources in its exploration in Oklahoma’s STACK play as the company reports another successful well around Watonga in Blaine county. The 914 Boed Moons Half well, 16 15N 12W is located about 4 miles southwest of Watonga. Its spud date was in March 2017 and drilling was finished a month …
Oil futures produced a slight gain on Wednesday as government data reports showed a drawdown in crude supplies, according to Bloomberg MarketWatch. October West Texas Intermediate crude tacked on 58 cents, or 1.2%, to settle at $48.41 a barrel on the New York Mercantile Exchange. October Brent crude, the global benchmark, rose 70 cents, or 1.4%, to …
Oil futures edged higher on Tuesday, buoyed by expectations that this week’s U.S. government reports will reveal a further cut in domestic supplies of crude oil, according to Bloomberg MarketWatch. The September contract for West Texas Intermediate crude oil which expired at Tuesday’s settlement, rose 27 cents, or 0.6%, to settle at $47.64 a barrel on …
Crude oil futures settled lower on Monday as traders awaited news from a closed-door OPEC meeting in Vienna, according to Bloomberg MarketWatch. September West Texas Intermediate crude oil fell by $1.14, or about 2.4%, to settle at $47.37 a barrel on the New York Mercantile Exchange, ahead of its expiration at Tuesday’s settlement. October Brent crude, …
The U.S. is becoming more and more of a competitor with Venezuela and the Middle East when it comes to oil exports. That’s because most of the new crude oil coming out of the Permian Basin in west Texas and southeast New Mexico will be shipped overseas. The oil will be transferred to Gulf Coast …
