Tulsa-based ONEOK, Inc. and ONEOK Partners, L.P. announced organizational changes on Tuesday in a company press release. Kevin L. Burdick, 52, currently senior vice president, natural gas gathering and processing, has been promoted to executive vice president and chief commercial officer, a new role, with responsibility for all of ONEOK’s business segment commercial activities. He …
Category: Oil & Gas
WTI Settles Below $50 a Barrel as OPEC Warns Increased U.S. Production May End Deal
Domestic oil prices plunged below $50 a barrel on Thursday for the first time this year as the market worried that growing U.S. crude producers may undermine efforts to rebalance global supply and demand, according to Bloomberg MarketWatch. It marked their lowest finish since late November. April West Texas Intermediate crude slid $1 or 2%, to …
OKOGA Supports Bills Allowing Extended Horizontal Drilling
An Oklahoma energy trade association is calling for passage of two legislative measures to allow the oil and natural gas industry to use modern drilling practices to help generate millions in state and local revenue without raising taxes. The Oklahoma Oil and Gas Association (OKOGA) issued a press release on Wednesday supporting the passage of …
Crude Oil Prices Retreat on Wednesday as Inventory Grows, Sets New Record
Oil futures plunged by more than 5% on Wednesday to post the lowest finish of the year after domestic government data showed a sudden surge in crude supplies that boosted inventories to a new record, according to Bloomberg MarketWatch. The drop came as OPEC members touted high compliance among participants since the production curb began …
Helmerich & Payne Appoints Kevin Cramton and Jose Mas to Board of Directors
Tulsa-based Helmerich & Payne, Inc. announced the appointment of two new members to the drilling company’s Board of Directors on Tuesday. Kevin G. Cramton is an operating partner at HCI Equity Partners, a private equity firm headquartered in Washington, D.C. He also serves as Executive Chairman of the Board of Atlantix Global Systems, a leading reseller of …
Oklahoma State Treasury Report Notes Second Month of Positive Growth
Despite a declaration of revenue failure, the monthly report on February gross receipts to the Oklahoma Treasury shows signs of an improving energy sector. Oklahoma State Treasurer Ken Miller announced a second month of positive growth following 20 months of contraction. February also marked the first increase in sales tax collections since March of last …
Traders Weigh Oil Supply, Likelihood of Increased Production as Settlements Fall on Tuesday
Oil prices slumped on Tuesday as traders weighed the potential for increased domestic production against current inventories, according to Bloomberg MarketWatch. April West Texas Intermediate crude fell 6 cents, or 0.1%, to settle at $53.14 a barrel on the New York Mercantile Exchange. May Brent crude, the global benchmark, lost 9 cents, or 0.2%, to settle …
Continental Resources Finds More Success in STACK and SCOOP
Oklahoma’s STACK play has resulted in some production for Continental Resources Inc. with at least two wells producing more than 1,500 barrels of oil a day. But the company also found more success in the SCOOP. The Oklahoma City-based company guided by Harold Hamm reported one well with production of 1,798 barrels of oil …
Fate of Anti-Flaring Rule in Doubt in U.S. Senate
Some questions remain whether Republicans in the U.S. Senate have the votes to go ahead and put an end to methane regulations introduced by the Obama administration. So far, there is nothing on the Senate calendar indicating a vote might come on a move to kill the Bureau of Land Management’s Methane and Waste Prevention …
CERAWeek Houston Conference Features Pruitt and Hamm as Keynote Speakers
Two of Oklahoma’s prominent energy leaders will provide insight at a weeklong conference this week in Texas. Marking his first public address since confirmation as the new U.S. Environmental Protection Agency Administrator, Scott Pruitt will speak at a keynote luncheon for oil and gas industry leaders and government officials in Houston. Pruitt will speak about …