Crude oil futures rallied to their highest settlement in more than three weeks on Wednesday as U.S. government data revealed the largest rise in crude oil supplies in three months, according to Bloomberg MarketWatch. March West Texas Intermediate crude rose $1.07, or 2%, to settle at $53.88 a barrel on the New York Mercantile Exchange—the highest …
Category: Oil & Gas
More Producing Wells Reported in Kingfisher County
From one week to the next. From one day to the next. Energy companies are not only expanding their exploration of Oklahoma’s STACK play but are reporting more successful wells. Kingfisher County appears to be the most active with seven wells reported completed by Jan. 30. Houston-based Newfield Exploration Mid-Con Inc. reported a well 7 …
WTI and Brent Book Slight Gains on Tuesday as Traders Await Inventory Data
Crude oil futures settled slightly higher on Tuesday as traders remained concerned about domestic production output during a time when the OPEC production curb appears to be working favorably, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, March West Texas Intermediate crude tacked on 18 cents, or 0.3%, to settle at $52.81 a …
Phillips 66, DEQ Update Stephens County Commissioners on Remediation at Duncan Refinery Site
Houston-based Phillips 66 Company provided the Stephens County Commissioners with an update on Monday morning regarding the status of its environmental remediation project covering 446 acres at the former Duncan Refinery site, according to a report by the Lawton Constitution. Located nearly four miles south of Duncan on Refinery Road and old U.S. Highway 81, …
Inhofe Seeks to Require Annual Reporting of Foreign Government Payments for Oil
Oklahoma Senator Jim Inhofe and Michigan Representative Bill Huizenga filed S. Res. SJR 9 on Monday, according to a press release. The joint resolution requires companies registered with the SEC to annually report payments made to a foreign government or the U.S. federal government regarding the commercial development of oil, natural gas and minerals. Senate …
Crude Oil Futures Fall on Tuesday as Traders Worry About U.S. Production Uptick
Crude oil futures were down for a second straight session on Tuesday as traders worried about domestic production growth and its impact on the current OPEC production curb, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, March West Texas Intermediate crude fell 54 cents, or 1%, to settle at $52.63 a barrel, marking …
DAPL Protest Held at Tulsa Park on Saturday
A Tulsa protest against the Dakota Access Pipeline was attended by more than 100 people on Saturday, according to a Tulsa World report. The gathering was held at John Hope Franklin Reconciliation Park as part of an organized opposition to the beleaguered pipeline project. Standing Rock protesters have obstructed construction of the pipeline since April …
WTI, Brent Settle Lower on Friday
Crude oil futures settled slightly lower on Friday and for the week as traders seemed content with OPEC’s production cut, according to Bloomberg MarketWatch. March West Texas Intermediate crude slid 61 cents, or 1.1%, to settle at $53.17 a barrel on the New York Mercantile Exchange. For the week, the March contract was down less than …
Legislator Proposes 5-cent a barrel fee to receive Out-Of-State Wastewater for Oklahoma Injection Wells
A Democratic lawmaker from Chickasha is proposing a nickel-a-barrel fee on liquids dumped into any injection or wastewater disposal well in the state. Rep. David Perryman’s HB 1330 would also require operators of commercial disposal wells to maintain logs of all loads of “deleterious” substances disposed at the wells. The logs would also have to …
Rig Counts Continue to Grow in Oklahoma and the U.S.
For a second straight week, rig counts in Oklahoma and across the U.S. increased significantly with Oklahoma adding 5 rigs while the national count grew by 18. Oklahoma’s now up to 96 working rigs. That compares to the 88 rigs reported one year ago at this time, according to Houston-based Baker Hughes Co. The U.S. …