Dallas-based Energy Transfer just got the support of five labor unions this week in the company’s fight to finish construction of its $4 billion Dakota Access Pipeline opposed by the Obama administration. The unions include LiUNA and the International Brotherhood of Teamsters who sent a letter to President Obama expressing deep concerns about his administration’s …
Mammoth Energy Services Inc. became Oklahoma’s newest publicly traded company on Monday when it launched an initial public offering worth $116 million to $140 million, according to a report by The Oklahoman. Mammoth Energy Services is a wholly owned subsidiary of Oklahoma City-based Mammoth Energy Partners LP. The company has previously attempted to transition from …
Oil futures finished higher on Friday, with prices achieving a second-straight monthly gain but suffering from the first quarterly loss of the year, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, November West Texas Intermediate crude added 41 cents, or 0.9%, to settle at $48.24 a barrel. Tracking the front-month contracts, prices fell nearly …
A shocker for the Oklahoma Independent Petroleum Association where Oklahoma City-based Devon Energy has dropped its membership claiming the group does not apparently do enough for those who make large capital investments in the state. “This decision arose from our serious concerns with OIPA’s ability to be an effective advocate for the significant capital investments …
The latest weekly rig report by Houston-based Baker Hughes Company, an oil and gas servicing firm shows the U.S. rig count grew by eleven over the past week reaching a total of 522. Oklahoma’s count grew by one to hit 68. However, it should be noted the rig count is based on activity of …
The trend of oil and gas workers being let go by the thousands in Oklahoma might have bottomed out. So says Lynn Gray, Director of Economic Research at the Oklahoma Employment Security Commission. “I’m cautiously optimistic that if oil and gas prices stay in the range they’re in, we may have seen the bottom in …
The moves by Oklahoma City’s Chesapeake Energy this week proved to be successful as OPEC agreed to cut its production and the company announced a private placement of up to $1 billion of convertible 10-year debt. The announcement came less than a day after OPEC’s announcement of cutting oil production by 700,000 barrels a day. …
The Bakken is better than ever. It’s what Jack Stark, president and COO of Oklahoma City’s Continental Resources recently told the North Dakota Petroleum council Annual Meeting. And his company will be there for years to come. There’s a good reason why Continental will be busier than ever in the Bakken. Nearly two-thirds of he …
Oklahoma City-based Chesapeake Energy Corporation has received a new subpoena from the U.S. Department of Justice, according to a report published in The Oklahoman. In its Form 8-K filed on Thursday with the U.S. Securities and Exchange Commission, Chesapeake disclosed the company received a DOJ subpoena seeking information on its accounting methodology for the acquisition …
Crude oil futures soared higher on Thursday as traders positively reacted to OPEC’s plan to scale back production, according to Bloomberg MarketWatch. In Algiers, OPEC members agreed to a scaled back production plan on Wednesday. Cartel members agreed on a preliminary outline to cut its collective output to between 32.5 million barrels a day and …
