Oklahoma’s billionaire oilman, Harold Hamm, sounded off on Thursday, citing a fringe element is responsible for stirring up controversy at the site of the Dakota Access Pipeline protest in North Dakota. President-elect Donald Trump’s key energy adviser questioned the motivations of protesters who are behind the standoff to halt construction of the controversial pipeline. “Let …
Category: Oil & Gas
Magellan Midstream Expands Houston Terminal and Pipeline Infrastructure
Tulsa-based Magellan Midstream Partners, L.P. and LBC Tank Terminals, LLC of Belgium announced Thursday the companies are expanding the infrastructure of Seabrook Logistics, LLC by increasing its crude oil and condensate storage and pipeline assets in the Houston Gulf Coast area, according to a joint press release. Seabrook Logistics – a 50/50 jointly owned subsidiary …
Gulfport Energy Acquires Utica Shale Property for $87 Million
Oklahoma City-based Gulfport Energy Corporation announced Wednesday that it will acquire nearly 12,600 net undeveloped acres in the Utica Shale play in northern Monroe County, Ohio for a purchase price of $87 million. The new land acquisition is adjacent to Gulfport’s existing acreage position and development plan. The transaction is expected to close in December …
Domestic Crude Oil Supplies Fall, WTI and Brent Crude Futures Also Drop on Wednesday
Crude oil futures settled lower on Wednesday despite weekly government data that revealed a decrease in crude stockpiles, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude fell $1.16, or 2.3%, to settle at $49.77 a barrel. WTI was trading at $50.41 before the supply data. On the London ICE …
Energy Growth Predicted for Oklahoma in the Coming Year
Economists at this week’s 2017 Oklahoma Economic Outlook Conference held by Oklahoma State University in Oklahoma City offered optimism about the future of the state’s energy industry. They indicated the recent increase in energy prices should lead employment in the energy sector to stabilize and increase slightly in the coming year. “Oil prices have …
Anxiety Results in Lower WTI, Brent Crude Settlements on Tuesday
Crude oil futures settled lower on Tuesday as some data revealed further increases in crude production last month from OPEC despite an agreement to cut back output starting in January, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude fell by 86 cents, or 1.7%, to settle at $50.93 a …
Houston Firm Reports Success in Kingfisher County
Houston-based Oklahoma Energy Acquisitions LP is reporting success in Oklahoma’s STACK, hitting a well that produced more than 1,000 barrels of oil a day. The firm operates as a subsidiary of Alta Mesa Holdings, LP. The Clark well, in the Mississippian play is located about 5 miles northwest of Crescent in Kingfisher County. It had …
Crude Oil Prices Jump Above $50 a Barrel on Monday
Crude oil futures settled at their highest points since July 2015 on Monday as the energy industry continued to grasp the details of OPEC’s agreement to curb production, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude rose 11 cents, or 0.2%, to settle at $51.79 a barrel, marking …
Friday Settlements End Higher for WTI and Brent Crude
Crude oil futures finished higher on Friday as traders rode the wave of OPEC’s success in striking a production cut designed to shrink supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude added 62 cents, or 1.2%, to settle at $51.68 a barrel. For the week, prices were nearly …
Denied! Army Corps Won’t Grant Dakota Access Pipeline Easement
The U.S. Army Corps of Engineers announced Sunday that it will not grant an easement for the controversial Dakota Access Pipeline’s planned route through the Standing Rock Sioux reservation. The surprise decision is a major victory for protesters who contend the pipeline would contaminate drinking water supplies on the reservation and destroy sacred historic and …