Oil and gas exploration isn’t letting up in Oklahoma’s STACK and SCOOP based on the latest permits for drilling as published by OK Energy Today. Four requests for Blaine county, one of the three counties making up the STACK were approved by the Oklahoma Corporation Commission. Three of the four went to Overflow Energy LLC, …
Oil futures settled above $45 a barrel on Tuesday as news of potential OPEC production curbs for Libya and Nigeria and a lower forecast for 2018 domestic crude output sparked a jump in settlements, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, August West Texas Intermediate crude rose 64 cents, or 1.4%, to settle …
Oklahoma State Treasurer Ken Miller says the state’s recession is officially over and the economic recovery is well underway. And he credits most of it to the oil and gas exploration in the past year as gross production tax revenues increased for the year and again in June. “Monthly gross receipts have been higher than …
Crude oil futures ended higher on Monday, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, August West Texas Intermediate crude tacked on 17 cents, or 0.4%, to settle at $44.40 a barrel. September Brent crude, the global benchmark, also added 17 cents, or 0.4%, to end trading at $46.88 a barrel on the London ICE …
If an analysis of Oklahoma’s horizontal well production is accurate, then maybe state lawmakers should realize their tax rates on oil and gas wells are focused the opposite of when they should be. If you’re an oil and gas developer, you’ll want taxes to remain as they are. The analysis by Oklahoma Watch found that …
Both the U.S. and Oklahoma saw big jumps in rig counts in the past week according to figures released by Baker Hughes. Oklahoma’s count jumped by four to reach 136. A year ago, the state had only 59 working oil and gas rigs. Nationally, the count grew by 12, reaching 952 active rigs. The nation’s …
Crude prices plunged on Friday resulting in a loss of nearly 4% for the week, as a rise in domestic oil production and an uptick in the active rig count troubled investors, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, August West Texas Intermediate crude fell $1.29, or 2.8%, to settle at $44.23 a …
Last November, OK Energy Today reported on the $500,000 claim filed by retired Tulsa businessman Thomas Quinn against the estate of Oklahoma City oil mogul Aubrey McClendon. Oklahoma County District Court Judge Patricia Parrish granted a motion for summary judgment last month against Quinn in the matter. Quinn is striking back by filing a petition …
Tulsa-based Williams Partners L.P. announced Wednesday that it has completed the divestiture of Williams Olefins L.L.C. to NOVA Chemicals for $2.1 billion in cash, according to a company press release. The Olefins subsidiary owns an 88.46 percent undivided ownership interest in the Geismar, Louisiana, olefins plant and associated complex. Additionally, Williams Partners subsidiaries have entered …
Houston-based Halliburton Company has acquired Tulsa-based Summit ESP, a leading provider of electric submersible pump (ESP) technology and services, according to a company press release issued Wednesday. The financial terms were not disclosed. “The acquisition of Summit expands Halliburton’s existing artificial lift capabilities and increases our overall leading position in North America oilfield services,” said …
