Crude oil futures settled lower on Wednesday despite weekly government data that revealed a decrease in crude stockpiles, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude fell $1.16, or 2.3%, to settle at $49.77 a barrel. WTI was trading at $50.41 before the supply data. On the London ICE …
Category: Oil & Gas
Energy Growth Predicted for Oklahoma in the Coming Year
Economists at this week’s 2017 Oklahoma Economic Outlook Conference held by Oklahoma State University in Oklahoma City offered optimism about the future of the state’s energy industry. They indicated the recent increase in energy prices should lead employment in the energy sector to stabilize and increase slightly in the coming year. “Oil prices have …
Anxiety Results in Lower WTI, Brent Crude Settlements on Tuesday
Crude oil futures settled lower on Tuesday as some data revealed further increases in crude production last month from OPEC despite an agreement to cut back output starting in January, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude fell by 86 cents, or 1.7%, to settle at $50.93 a …
Houston Firm Reports Success in Kingfisher County
Houston-based Oklahoma Energy Acquisitions LP is reporting success in Oklahoma’s STACK, hitting a well that produced more than 1,000 barrels of oil a day. The firm operates as a subsidiary of Alta Mesa Holdings, LP. The Clark well, in the Mississippian play is located about 5 miles northwest of Crescent in Kingfisher County. It had …
Crude Oil Prices Jump Above $50 a Barrel on Monday
Crude oil futures settled at their highest points since July 2015 on Monday as the energy industry continued to grasp the details of OPEC’s agreement to curb production, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude rose 11 cents, or 0.2%, to settle at $51.79 a barrel, marking …
Friday Settlements End Higher for WTI and Brent Crude
Crude oil futures finished higher on Friday as traders rode the wave of OPEC’s success in striking a production cut designed to shrink supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude added 62 cents, or 1.2%, to settle at $51.68 a barrel. For the week, prices were nearly …
Denied! Army Corps Won’t Grant Dakota Access Pipeline Easement
The U.S. Army Corps of Engineers announced Sunday that it will not grant an easement for the controversial Dakota Access Pipeline’s planned route through the Standing Rock Sioux reservation. The surprise decision is a major victory for protesters who contend the pipeline would contaminate drinking water supplies on the reservation and destroy sacred historic and …
Oil and Gas Rig Counts Grow in Oklahoma and U.S.
The number of drilling rigs increased in the nation’s oil and gas patch in the past week, growing by 4 to reach a total of 597 while Oklahoma added two, according to figures from the Baker Hughes Company. The nation’s count increased 3 additional oil rigs to reach 477 and one more gas rig to …
Chesapeake Energy: New Look, New Logo
Chesapeake Energy is launching a new company logo for 2017, according to a news report by The Oklahoman. Chesapeake employees were provided a first peek at meetings held this week. The new logo reflects changes in the company and the oil and natural gas industry, according to the report. “Over the past three years, Chesapeake …
Chesapeake Energy Appoints Gloria Boyland to Board of Directors
Oklahoma City-based Chesapeake Energy Corporation announced Friday that Gloria Boyland was appointed to the Board of Directors effective November 30, 2016. Boyland will serve as a member of the Audit Committee and stand for re-election at the 2017 annual meeting to be held on May 19, 2017, according to a company press release. Boyland is …