Oil futures settled higher on Monday as Libya’s largest oil field was obstructed and concerns remains over global discord impacting crude oil supplies, according to Bloomberg MarketWatch. May West Texas Intermediate crude added 84 cents, or 1.6%, to settle at $53.08 a barrel on the New York Mercantile Exchange. June Brent crude, the global benchmark, tacked …
Category: Oil & Gas
Can New Oil and Gas Group Convince Legislature to Make Tax Changes?
A week after rallying at the state capitol, members of the newly-formed oil and gas group fighting to have the state apply the 7 percent gross production tax to all wells have to wonder about their prospects of convincing the legislature. Obviously there was a great deal of optimism on the day the Oklahoma Energy …
Chaparral Energy is All In on STACK Play After Emerging From Chapter 11 Bankruptcy
A corporate revolution is afoot at Oklahoma City-based Chaparral Energy Inc. During last week’s results call, the company formally introduced its new CEO and board of directors while focusing on its financial strength and business operations following an exit from Chapter 11 bankruptcy proceedings. “This past year has been a transformative one for Chaparral,” said …
Williams Files Proxy Statement for Annual Meeting in May
The Williams Companies, Inc. will hold its Annual Meeting of Stockholders on May 18, 2017, according to the company’s Form DEF 14A proxy statement filed with the U.S. Securities and Exchange Commission on Friday. The official document states the meeting will begin at 2 p.m. at the Williams Resource Center Theater located at One Williams …
7-Eleven to Purchase C-Stores from Sunoco for $3.3 Billion in Deal With Fuel Supply Contract
The ink was hardly dry on Energy Transfer Equity, L.P.’s recent influx of $300 million into Sunoco LP when Sunoco announced on Thursday that it will sell nearly 1,100 fueling stations and convenience stores in Texas and the Northeast to 7-Eleven in a deal worth $3.3 billion. OK Energy Today reported on March 31 regarding …
Crude Oil Futures Rise to One Month High on Friday After Syria Airstrike
Following a U.S. airstrike on Syria, crude oil futures ended at a one-month high on Friday, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude jumped 54 cents, or 1.04%, to settle at $52.24 a barrel. For the week, the U.S. benchmark rose 3.2%. On the London ICE Futures …
Kimray Strikes Deal for Worldwide Distribution with DistributionNOW
Oklahoma City-based Kimray Inc. has announced it’s made an exclusive international distribution agreement with DistributionNOW. Houston based-DNOW is considered a leading provider of drilling and production equipment with a global presence in the oil and gas chain. Under the deal, DNOW will distribute Kimray’s line of regulators, control valves, glycol pumps and liquid level controls …
WTI and Brent Crude Continue Climb on Thursday
Crude oil futures rose again on Thursday as traders looked past growing domestic oil supplies to expectations for a continued pickup in refinery activity and a more favorable global backdrop, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude rose 55 cents, or 1.1%, to settle at $51.70 a …
More Major Producing Oil Wells in Oklahoma’s STACK
Kingfisher county continues to see more major-producing oil wells reported with one producing nearly 2,000 barrels a day and another with more than 1,000 barrels in daily production. As OK Energy Today’s completion reports showed, Houston-based Newfield Exploration Mid-Con Inc. brought in a well with production of 1,929 barrels a day along with 3,251 Mcf …
Energy Tax Debate Remains Emotional for All Sides in Oklahoma
One thing is clear about the ongoing debate before the legislature about Oklahoma’s gross production tax against the oil and gas industry….it is an emotional issue on all sides. It pits vertical-well drillers against horizontal well operators in a battle to increase the gross production tax from the current 2 percent to 7 percent. Legislation …