On Monday, crude oil futures logged their highest settlements since July 2015 after more oil producing nations agreed to curb production in an effort to rebalance supplies, according to Bloomberg MarketWatch. “The latest development is buoying optimism in the market,” said Vivek Dhar, a commodities strategist at Commonwealth Bank of Australia. “It shows that the …
Category: Oil & Gas
Perry Meeting With Trump to Discuss Top Energy Secretary Post
Following a sidelines discussion with President-elect Donald Trump at the Army-Navy football game in Baltimore on Saturday, former Texas Governor Rick Perry was expected for a formal meeting in New York on Monday to discuss the possibility of heading up the U.S. Energy Department, according to numerous media sources. The meeting was quickly confirmed on …
Chesapeake Keeps Top Spot for Ohio’s Utica Shale
Three Oklahoma City-based energy companies are busy at work in Ohio these days. Oklahoma City-based Chesapeake Energy Corporation remains the top driller in Ohio’s Utica Shale according to a recent report by Kallanish Energy. Chesapeake received 825 permits since late 2010 from the Ohio Department of Natural Resources and its Division of Oil and Gas …
Natural Gas, WTI and Brent Crude Settle Higher on Friday
Crude oil and natural gas futures finished higher on Friday as traders monitored the OPEC production cut and forecasts for below-average temperatures bolstered the markets, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude tacked on 66 cents, or 1.3%, to settle at $51.50 a barrel, marking a 2.2% gain …
Rig Numbers Soar Nationally but Slip in Oklahoma
National rig counts soared in the past week, climbing by 27 while the number of active oil and gas rigs in Oklahoma slipped by one, according to the last information from Houston-based Baker Hughes Company. The national count swelled to 624 including 21 more oil rigs to reach a total of 498. The number of …
No Letup in Drilling Requests for Oklahoma’s STACK
Interest has yet to wane in Oklahoma’s STACK as the number of requests for permits to drill in the three-county area totaled 30 over the past week. A review of the permits as published by OK Energy Today shows the heaviest interest is in Kingfisher county where 14 permits were requested of the Oklahoma Corporation Commission in the …
WTI, Brent Crude Rebound With Settlements Above $50 on Thursday
Crude oil futures posted modest gains and moved settlements above the crucial $50 a barrel benchmark on Thursday, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude gained $1.07, or 2.2%, to settle at $50.84 a barrel. On the London ICE Futures Exchange, February Brent crude, the global benchmark, tacked on …
Hamm: Tribal Members Being Used by ‘Fringe’ in DAPL Standoff
Oklahoma’s billionaire oilman, Harold Hamm, sounded off on Thursday, citing a fringe element is responsible for stirring up controversy at the site of the Dakota Access Pipeline protest in North Dakota. President-elect Donald Trump’s key energy adviser questioned the motivations of protesters who are behind the standoff to halt construction of the controversial pipeline. “Let …
Magellan Midstream Expands Houston Terminal and Pipeline Infrastructure
Tulsa-based Magellan Midstream Partners, L.P. and LBC Tank Terminals, LLC of Belgium announced Thursday the companies are expanding the infrastructure of Seabrook Logistics, LLC by increasing its crude oil and condensate storage and pipeline assets in the Houston Gulf Coast area, according to a joint press release. Seabrook Logistics – a 50/50 jointly owned subsidiary …
Gulfport Energy Acquires Utica Shale Property for $87 Million
Oklahoma City-based Gulfport Energy Corporation announced Wednesday that it will acquire nearly 12,600 net undeveloped acres in the Utica Shale play in northern Monroe County, Ohio for a purchase price of $87 million. The new land acquisition is adjacent to Gulfport’s existing acreage position and development plan. The transaction is expected to close in December …