Crude oil futures ended modestly higher on Wednesday as data revealed an unexpected rise in domestic crude inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude oil rose 12 cents or 0.2%, to settle at $51.15 a barrel. On the London ICE Futures Exchange, June Brent crude, the …
Category: Oil & Gas
Legislature Becomes Battle Ground Between Oil and Gas Groups
The state legislature has become the battle ground between the “little guys” and the “big guys” in a fight over gross production tax rates in Oklahoma. Members of the newly-formed Oklahoma Energy Producers Alliance rallied Wednesday morning at the capitol then lobbied legislators to increase the gross production tax on major energy companies. As former …
Newfield Reports Two More Major Wells in Kingfisher County
Newfield Exploration is reporting two more major wells in Kingfisher county, one of the three counties that make up the so-called STACK oil play in the state. Both are producing more than 1,000 barrels of oil a day as indicated in completion reports published by OK Energy Today. The Lucile well, located at 27 17N …
New Natural Gas Pipeline Announced to Handle Permian Basin Growth
As the oil and gas industry worries about a shortage of pipelines to handle the growing production in the Permian Basin, something we wrote about earlier this week at OK Energy Today, Houston based NAmerico Energy Holdings LLC has announced plans to build a 468 mile intrastate natural gas system in West Texas. The 42-inch …
OKOGA Voices Discord With OEPA’s Gross Production Tax Hike Proposal
The oldest energy trade association in the United States is vehemently opposed to another state energy alliance’s proposal to raise Oklahoma’s gross production tax to 7 percent. “It’s disappointing to see well-respected Oklahomans use such misleading arguments to push for job-killing tax increases,” said Chad Warmington, president of the Oklahoma Oil and Gas Association (OKOGA). Warmington …
Oil Futures Buoyed on Tuesday by Expectations of Declining Inventories
Crude oil prices rebounded on Tuesday, settling at a four-week high after rising on expectations that weekly domestic inventory data would show a decline, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude oil rose 79 cents, or 1.6%, to settle at $51.03 a barrel. Earlier in the session, …
WTI, Brent Crude Remain Above $50 While Posting Lower Settlements on Monday
Crude oil futures diminished on Monday, recouping some of last week’s gains as traders pondered whether OPEC is inclined to modify the limited production agreement in place since January, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude oil futures fell 36 cents, or 0.7%, to settle at $50.24 …
OU Law School Hosts Oil & Gas Symposium on April 7
The University of Oklahoma College of Law will host its inaugural Oil and Gas, Natural Resources and Energy Journal Symposium on April 7, according to a press release and report by the OU Daily. This year’s theme is “The Future of Oil and Gas Law and Policy.” “It is a special and unprecedented occasion to …
WTI and Brent Crude Finish Week Above $50 a Barrel on Friday
Crude oil future settlements remained above $50 a barrel on Friday as domestic prices held their ground for the past three weeks despite a quarterly loss of nearly 6%, according to Bloomberg MarketWatch. May WTI crude rose 25 cents, or 0.5%, to settle at $50.60 a barrel on the New York Mercantile Exchange. Prices finished about …
Crude Oil Prices Leap Over $50 a Barrel on Thursday
Jumping above $50 a barrel on Thursday, crude oil prices surged ahead for a third straight session, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, May West Texas Intermediate crude rose 84 cents, or 1.7%, to settle at $50.35 a barrel. On the London ICE Futures Exchange, May Brent crude, the global benchmark, …