Houston-based Schlumberger announced Thursday that it is acquiring Peak Well Systems from Summit Partners for an undisclosed sum, according to a company press release. The company is strengthening its global portfolio with the addition of Peak’s mechanical and remedial solutions for cased-hole well intervention. “In the past few years, Peak has developed a portfolio of …
Category: Oil & Gas
Samson Resources and Key Creditors Agree to Bankruptcy Reorganization Plan
Tulsa-based Samson Resources Corp. and the creditors committee in the company’s Chapter 11 bankruptcy action have agreed to terms under the reorganization plan, according to a report in the Tulsa World. Samson filed for bankruptcy protection in Delaware during September of 2015. At the time, the company’s liabilities were $4 billion. Under the agreed plan, …
Dana Murphy Elected as OCC’s Next Chairman Effective February 1
The Oklahoma Corporation Commission announced the election of Commissioner Dana Murphy as its new chairman and Commissioner Todd Hiett as vice chairman by unanimous vote, according to an OCC press release issued on Thursday. Murphy, a Republican, is a geologist and attorney who previously served as an OCC administrative law judge. She has served as …
Rig Count: Canada Add 48 New Rigs While Oklahoma Adds None
Canada led the way last week with the addition of 48 new rigs while the U.S. rig count gained a total of seven, according to the Baker Hughes rig count released on Friday. Canada added 29 oil rigs and 23 gas rigs. Canada is up 38 rigs when compared with data from a year ago. …
WTI, Brent Crude Settle Higher on Friday, Natural Gas Futures Sink
Crude oil futures finished higher on Friday as all signs point to favorable compliance with OPEC’s global production curb, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude tacked on 23 cents, or 0.4%, to settle at $53.99 a barrel. For the week, the WTI index rose by nearly 0.5% …
Chesapeake Close to Settling DFW Airport Board Lawsuit for $8.2 Million
The Dallas/Fort Worth Airport board moved closer to settling its lawsuit against Oklahoma City-based Chesapeake Energy Corporation on Thursday, according to a report in the Fort Worth Star-Telegram. The airport board was expected to vote on accepting $8.2 million as final settlement to resolve the legal dispute. OK Energy Today reported on August 31, 2016 …
Crude Oil Futures Rise on Thursday as EIA Report Reveals 7.1 Million Stockpile Drop
Crude oil futures on Thursday rose for a second straight session to finish at a one-week high as investors were pleased with U.S. government data that revealed a drop in weekly crude supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude rose by 50 cents, or 0.9%, to …
Tallgrass Energy and Rockies Express Pipeline Announce Zone 3 Project Near Completion
Tallgrass Energy and Rockies Express Pipeline LLC (“REX”) announced Thursday that the 0.8 billion cubic feet per day REX Zone 3 Capacity Enhancement Project is nearly complete. REX’s Zone 3 is capable of bidirectional natural gas transportation and can now move 2.6 billion cubic feet per day of natural gas from Clarington, Ohio, to delivery …
Baker Hughes to Announce 4Q and 2016 Year End Results on January 26, 2017
Houston-based Baker Hughes Incorporated announced Thursday that it will release its fourth quarter and end of year operational results on Thursday, January 26, 2017 at 6:30 a.m. Eastern Time (5:30 a.m. Central Time), according to a company press release. The company will hold an investor conference call to discuss the results at 8:30 a.m. Eastern …
WTI, Brent Crude Settle Higher on Wednesday as Natural Gas Falls Again
Crude oil futures finished higher on Wednesday as analysts predicted a drop in supplies for the first time in three weeks, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude rose 93 cents, or 1.8%, to settle at $53.26 a barrel. On the London ICE Futures Exchange, March Brent crude, …