As signs of further domestic growth in crude production worried traders, oil futures fell slightly on Monday, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, April West Texas Intermediate crude fell 13 cents, or 0.2%, to settle at $53.20 a barrel on the New York Mercantile Exchange. On the London ICE Futures Exchange, the …
Category: Oil & Gas
Samson Resources Emerges From Bankruptcy, Appoints New Board
Tulsa-based Samson Resources Corporation announced on Wednesday that it has emerged from bankruptcy and discharged $4 billion in debt and $300 million of annual interest expense. The company has transferred nearly all of its remaining assets and subsidiaries to a new company, Samson Resources II, LLC. Samson Resources filed for Chapter 11 bankruptcy reorganization in …
WTI, Brent Settle Higher on Friday, Lower for the Week
Oil futures settled higher on Friday despite registering losses for the week, as traders expressed concern about OPEC’s compliance with the production cut, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, April West Texas Intermediate crude rose 72 cents, or 1.4%, to settle at $53.33 a barrel. For the week, WTI suffered a …
Legislators Attempt Again to Change Horizontal Drilling Laws
Two years later and some things never change in the Oklahoma legislature, such as attempts to modernize the state’s regulations regarding horizontal oil and gas drilling. It was April 2015 when OK Energy Today reported on attempts in the legislature. Those efforts are still underway in 2017 as the Oklahoma House Energy and Natural Resources …
OIPA Comments on EPA’s Withdrawal of Data Request on Oil & Gas Equipment and Emissions
Oklahoma Independent Petroleum Association Vice President of Governmental Affairs Tim Wigley released the following statement regarding the withdrawal of an EPA request for oil and natural gas operators to provide information on equipment and emissions at existing operations: “Today’s announcement is a clear signal that the days of burdensome and costly regulations put on the …
Crude Oil Futures Fall Lower on Thursday as Inventory Supply Hits Record
Oil prices dived lower for a third consecutive session on Thursday after government data revealed that domestic crude inventories hit a record and production gained momentum last week, according to Bloomberg MarketWatch. “The all-time high crude stockpile levels in the U.S. is the number one reason” behind oil’s recent inability to climb, said Fawad Razaqzada, …
Continental Resources Hits Large Well in SCOOP
Oklahoma’s SCOOP scores a big well in Grady County. Continental Resources Inc. filed a completion report this week pointing out how the Emery well is producing 1,028 barrels a day along with 1,838 Mcf of gas. The well had a spud date back in July of last year. Drilling was finished in September and completion …
McClendon to Receive Posthumous Industry Legend Award from OIPA
The Oklahoma Independent Petroleum Association will honor the late Aubrey McClendon with its inaugural “OIPA Legend of the Industry” award during the association’s Wildcatters Gala set for March 21 at the Skirvin Hilton in Oklahoma City. Often recognized as a major player in America’s energy renaissance, the Oklahoma City oil executive reached the pinnacle of …
WTI, Brent Drop on Wednesday as Crude Oil Inventories Rise to New Weekly Record
Oil prices finished with a nominal drop on Wednesday as U.S. government data revealed an eighth weekly climb in a row for crude stockpiles, according to Bloomberg MarketWatch. April West Texas Intermediate crude fell 18 cents, or 0.3%, to settle at $53.83 a barrel on the New York Mercantile Exchange. May Brent crude, the global benchmark, …
Crude Oil Futures Post Monthly Gain, Slight Daily Drop on Tuesday
Oil futures fell slightly on Tuesday, but saw monthly gains for February as traders anxiously awaited data that may confirm a rise in domestic crude inventories for an eighth week in a row, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, April West Texas Intermediate crude fell by 4 cents, or less …