Oil and gas exploration is swelling in Oklahoma’s STACK play, witnessed by the latest filings for drilling permits issued at the Oklahoma Corporation Commission and published at OK Energy Today. At least ten permits to drill were issued alone for Kingfisher County in the heart of the STACK. Nine out of the ten permits were …
Oklahoma City-based Continental Resources, Inc. announced plans to double its capital expenditure budget for 2017 in an effort to accelerate production, according to a company press release issued Thursday. Based on the company’s recent success in the Bakken region and Oklahoma’s STACK play, Continental will increase its 2017 capital expenditures budget to $1.95 billion. Of this …
Tulsa-based Magellan Midstream Partners LP shut down its ruptured 12-inch underground pipeline in northern Iowa on Wednesday following a leak of more than 138,000 gallons of diesel fuel. The refined products pipeline – built in the early 1950s and located in Worth County – is at the center of the largest U.S. diesel spill since …
Crude oil futures closed at their highest finish in almost three weeks on Thursday as traders were buoyed by the results of OPEC’s production cut, according to Bloomberg MarketWatch. March West Texas Intermediate crude rose $1.03, or 2%, to settle at $53.78 a barrel on the New York Mercantile Exchange—the highest settlement since January 6. On …
Crude oil futures seesawed on Wednesday, settling lower after a volatile trading session caused weekly government reports revealing a third-consecutive weekly increase in U.S. crude oil inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, March West Texas Intermediate crude fell 43 cents, or 0.8%, to settle at $52.75 a barrel. March Brent crude, …
The head of the Oklahoma Oil and Gas Association maintains the decision to move ahead with possible construction of the Keystone XL pipeline and the completion of the Dakota Access pipeline is good news for Oklahoma’s oil and gas industry. Chad Warmington, President of OKOGA issued a statement following the Monday morning announcement …
Crude oil futures bounced higher on Tuesday to recoup most of the losses they saw a day earlier as traders looked for positive signs from OPEC’s production curb, according to Bloomberg MarketWatch. March West Texas Intermediate crude rose 43 cents, or 0.8%, to settle at $53.18 a barrel on the New York Mercantile Exchange. March Brent …
Oil futures finished lower Monday as concerns over the potential for a sizable increase in domestic crude oil production outweighed support from Saudi Arabia’s energy minister, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, March West Texas Intermediate crude fell by 47 cents, or 0.9%, to settle at $52.75 a barrel. March Brent …
Even with total fourth quarter 2016 revenue of $4 billion, Houston-based Halliburton Company reported a loss of $149 million from continuing operations. That figured to be $0.17 per diluted share while adjusted income from the same operations was $35 million or $0.04 per diluted share. It compares to third quarter continuing operations income of $6 …
Another new joint venture is being formed to target oil and gas land in the Permian Basin. Santa Fe Midstream LLC based in Plano, Texas has joined forces with Vermilion Cliffs Partners LLC of Fort Worth as the two plan to carry out exploration in Reeves and Culberson counties in West Texas. Vermilion will contribute …
