The Oklahoma Corporation Commission’s Oil and Gas Division announced plans on Tuesday afternoon to implement action in response to recent earthquake activity in the Cushing area. The new plan affects 58 Arbuckle disposal wells including 4 that were shut-in by state regulators in October 2015. A total of 54 wells require action under the new …
Revenue from Oklahoma’s gross production tax on oil and natural gas were more than 31% higher than estimated by state officials for the first quarter of the new fiscal year 2017, according to Oklahoma Treasurer Ken Miller. In his Oklahoma Economic Report issued this week, Miller said the allocations from the gross production tax generated …
Oklahoma City-based Blueknight Energy Partners, L.P. announced the addition of Joel Kanvik as general counsel, according to a company press release issued on Monday. Kanvik’s hiring follows the August departure of Chris Paul, who resigned from Blueknight to become the general counsel for Gulf Oil. “Joel brings more than two decades of legal experience and …
Oil futures settled higher on Election Eve Monday following worries about oil supplies after a 5.0 magnitude earthquake rocked the Cushing storage hub, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, December West Texas Intermediate crude tacked on 82 cents, or 1.9%, to settle at $44.89 a barrel. On London’s ICE Futures Exchange, …
“We will be taking further action in the area,” said Matt Skinner with the Oklahoma Corporation Commission following the Sunday night earthquake at Cushing. The Commission’s Oil and Gas Division responded immediately after the 7:44 p.m. earthquake that measured 5.0 magnitude according to the U.S. Geological Survey or 4.6 magnitude according to the Oklahoma Geological …
The Sierra Club suffered a setback when the U.S. Court of Appeals for the D.C. Circuit ruled against its challenge of the government’s approval of an LNG export project in Corpus Christi, Texas. The Court upheld the orders of the Federal Energy Regulatory Commission which approved the Corpus Christi Liquefaction project of Cheniere Energy. The …
Oil futures ended at a six-week low on Friday as OPEC plans to reduce production appear on the verge of collapse, according to Bloomberg MarketWatch. December West Texas Intermediate crude fell 59 cents, or 1.3%, to settle at $44.07 a barrel on the New York Mercantile Exchange, after tapping a low of $43.57. Futures lost …
Oklahoma City-based Chesapeake Energy Corporation is the target of two separate legal actions filed in October, according to a quarterly report filed with the U.S. Securities and Exchange Commission on Friday. In the company’s Form 10-Q filed on November 3, Chesapeake confirmed it received a voluntary document request from the SEC seeking information on its …
Crude oil futures dropped lower on Thursday after a record rise in stockpiles continued to wreak havoc on the market, according to Bloomberg MarketWatch. “We are getting EIA hangover,” said Phil Flynn, senior market analyst at Price Futures Group, referring to the supply data. On the New York Mercantile Exchange, December West Texas Intermediate crude lost …
Two days after a 4.5 magnitude earthquake struck near Pawnee, state and federal officials targeted more wastewater disposal wells, ordering some to be shutdown and others to see reduced volumes. The Oklahoma Corporation Commission and the Environmental Protection Agency took the action in northeastern Oklahoma and the affected wells are in Creek, Pawnee, Payne and …
