Tulsa-based Empire Petroleum Corporation has announced a deal where it is making a nearly $18 million purchase of half of a newly-formed venture that includes oil and gas properties in the Texas Panhandle. The deal is with Masterson West, LLC, a Tulsa firm that created a new entity called Masterson West II, LLC. Empire contributed …
Oklahoma’s latest jobless figures show the state’s economy is still struggling with the impact of what happened starting two years ago to the oil and gas industry. Rates went up in 59 of Oklahoma’s 77 counties in November according to the Employment Security Commission and the November rate was 5.1 percent. “We saw unemployment rates …
Oklahoma City-based Gulfport Energy Corporation announced Thursday that Keri Crowell has been appointed to the position of Chief Financial Officer effective January 4, 2017, according to a company press release. Crowell replaces Aaron Gaydosik, who is resigning to pursue an outside business opportunity. “Keri has been a key contributor to Gulfport’s success during her 11-year …
Oil futures dropped on Thursday after several reports revealed data that showed a rise in domestic crude oil inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, February West Texas Intermediate crude oil fell 29 cents, or 0.6%, to end at $53.77 a barrel. The contract traded as high as $54.21 a barrel …
A $1.24 billion sale of assets in the Marcellus Shale has been announced by Anadarko Petroleum Corporation. It’s agreed to sell its operated and non-operated upstream assets and operated midstream assets in north-central Pennsylvania to Alta Marcell Development, LLC, a wholly-owned subsidiary of Alta Resources Development LLC. The divestiture includes nearly 195,000 net acres with …
More oil and gas wells are reported being completed and producing in Oklahoma’s popular and oil-rich STACK play. As indicated on the completion reports published this week by OK Energy Today, producers were reported by Continental Resources, Devon Energy and Houston, Texas based Oklahoma Energy Acquisitions LP. Most of the STACK wells came in with production …
Oklahoma’s oil and gas industry won’t like what former longtime state legislator Jerry Ellis of Valliant is suggesting. A cut in exemptions for the industry. Speaking out this week on the state’s budget crisis, the former Democratic Representative and Senator said it should be considered among the actions to be taken by the legislature …
Contributing to a fourth consecutive increase, crude oil futures rose on Wednesday as traders remained optimistic while awaiting weekly data on inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, light, sweet crude futures for delivery in February tacked on 16 cents a barrel, or 0.3%, to finish at $54.06 a barrel—their highest close …
Exxon Mobil has a fight on its hands. The small town of Portland near Corpus Christi, Texas is opposing plans by Exxon and Saudi Basic Industries Corp. to build a nearby massive petrochemical plant. Sort of a David vs. Goliath story. Town leaders are citing safety issues even though the 1,400-acre project is technically outside …
Not only is the Sierra Club fighting the Dakota Access Pipeline in North Dakota as well as Donald Trump’s nomination of Attorney General Scott Pruitt to head the EPA, it’s now taken legal action to oppose a south Texas pipeline meant to carry natural gas to customers in Mexico. The Club filed a motion against …
