Who’s drilling and where? A quick check of the Daily Permits report on applications to drill in Oklahoma shows more growth in Oklahoma’s STACK oil and gas play. Jones Energy LLC, based in Austin, Texas is expanding its drilling ventures in the state. Historically, Jones has explored in western Oklahoma and the Texas Panhandle, areas …
Crude oil futures climbed on Tuesday, with the commodity logging its fourth gain in a row as traders braced for a possible decline in domestic supplies, according to Bloomberg MarketWatch. August West Texas Intermediate crude rose by 86 cents, or 2%, to settle at $44.24 a barrel on the New York Mercantile Exchange. August Brent crude, …
Crude oil futures climbed higher on Monday, buoyed by forecasts for a weather-related weekly decline in domestic supplies, according to Bloomberg MarketWatch. Analysts are eyeing the possibility of a hefty decline in last week’s U.S. crude inventories in the wake of temporary production disruptions caused by a tropical storm in the Gulf of Mexico. August …
Both Oklahoma and the U.S. saw big jumps in rig counts in the past week, according to figures released by Baker Hughes. Oklahoma’s count jumped by five to reach 132. A year ago, the state had only 54 working oil and gas rigs. Nationally, the count grew by eight, reaching 941 active rigs. The report …
Crude oil prices ended higher on Friday but suffered a weekly loss for the fifth time in a row, according to Bloomberg MarketWatch. August West Texas Intermediate crude advanced 27 cents, or 0.6%, to settle at $43.01 a barrel on the New York Mercantile Exchange. For the week, WTI ended roughly 4.4% lower. On the London …
While oil prices have tumbled to a 7 month low and are near the $43 a barrel range, U.S. petroleum refineries are running at a record pace. The U.S. Energy Information Administration reports gross inputs to the refineries averaged 17.7 million barrels a day for the week ending May 26 before they dropped slightly to …
Oil futures finished slightly higher Thursday, with a second weekly decline in domestic crude supplies helping prices recoup some of their recent losses, according to Bloomberg MarketWatch. August West Texas Intermediate crude advanced 21 cents, or 0.5%, to settle at $42.74 a barrel on the New York Mercantile Exchange. On the London ICE Futures Exchange, August …
The state’s oil and natural gas industry continues its recovery from the oil price rout that started in 2014, according to the Oklahoma Energy Index. With activity levels in the oil and gas industry rising 13 percent higher than a year ago, the index moved slightly lower for the month of April. “Despite a slight …
Crude oil futures flirted with bear market territory and slid to their lowest finish since August on Tuesday, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude declined by 97 cents, or 2.2%, to settle at $43.23 a barrel on the contract’s expiration day. It marked the lowest front month …
While Oklahoma’s latest unemployment rate remained unchanged at 4.3 percent in May, new figures from the state indicated a growth in jobs in Oklahoma’s energy sector for the year but not the month. The jobless rate has remained at 4.3 percent since March as the state’s labor force dwindled in the same time period. The …
