Oklahoma City’s Continental Resources Inc. is reporting success in both oil and gas production from wells in the SCOOP and STACK. Completion reports published by OK Energy Today show the company brought in a well producing 1,347 barrels of oil equivalent a day near Chickasha in Grady County. Located north of Highway 62 and at 15 …
Faced with spill problems in construction, Energy Transfer Partners in Dallas is selling part of its controversial Rover Pipeline, the 700 mile line stretching across the U.S. ETP is selling 49.9% to Blackstone Energy Partners and Blackstone Capital partners for $1.57 billion in ETP’s HoldCo. HoldCo. owns 65% interest in the Rover pipeline and upon …
Oil futures rebounded on Wednesday by notching slight gains while traders dealt with a smaller-than-expected decline in domestic crude inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude oil rose 43 cents, or 0.9%, to settle at $49.59 a barrel. October Brent crude, the global benchmark, gained 58 cents, …
Houston-based Newfield Exploration Company reported a net income of $98 million or $0.49 per diluted share for the second quarter of 2017. Last year, the company reported a net loss of $667 million or $3.36 per diluted share, according to company financials. “We are on target to deliver the key objectives within our 2017 business …
Oklahoma City-based Devon Energy Corporation’s plan for growth is proving to be highly successful as the company posted $425 million in net earnings for the second quarter of 2017, up from a loss of more than $1.5 billion for the same quarter last year. “Devon achieved another high-quality operating performance in the second quarter, building …
Oil futures receded on Tuesday as the U.S. benchmark fell below $50 a barrel while evidence pointed to an OPEC production increase, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude fell $1.01, or 2%, to settle at $49.16 a barrel. October Brent crude, the global benchmark, lost 94 cents, …
Tulsa-based ONEOK, Inc. plans to double its Canadian Valley natural gas processing facility in the STACK to 400 million cubic feet per day to support increasing production growth, according to a company press release issued Monday afternoon. The Canadian Valley II project in Canadian County, Oklahoma, is expected to be complete by the end of 2018. …
West Texas Intermediate oil futures charged past $50 a barrel on Tuesday as Brent crude continued to post another positive gain, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude rose 46 cents, or 0.9%, to settle at $50.17 a barrel, its highest close since May 24. September Brent …
The Oklahoma Corporation Commission issued two Notices of Proposed Emergency Rulemaking on Thursday amending the rules of practice and the oil and gas conservation rules. The changes are intended to conform the Commission’s rules with Senate Bill 867 – the Oklahoma Energy Jobs Act of 2017 – which becomes effective August 24, 2017. The Oil …
Both the U.S. and Oklahoma saw jumps in rig counts for the past week according to figures released by Baker Hughes. Oklahoma’s count jumped by three to reach 134. A year ago, the state had only 60 working oil and gas rigs. Nationally, the count grew by eight, reaching 958 active rigs. The nation’s count …
