With the completion of its $1.1 billion sale of its 50% ownership interest in Access Pipeline, Devon Energy expects the proceeds to beef up its investment-grade balance sheet. It also means the investments will put the Oklahoma City-based energy company in a position to get higher benefits from the STACK and other resource-rich U.S. areas. The …
Skyrocketing prices of Chesapeake Energy shares are getting some attention in the stock market. As Seeking Alpha notes, Chesapeake shares have jumped 50% in the past three months and it’s largely due to a “rally in natural gas pricing.” The investment company says Chesapeake Energy is likely to reap the benefits of a growing …
Oil futures fell Wednesday as uncertainty over Russia’s willingness to cut production and a monthly rise in output from OPEC members sent prices lower for a second consecutive session, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, November West Texas Intermediate crude fell 61 cents, or 1.2%, to settle at $50.18 a barrel after …
Crude oil futures settled lower on Tuesday but remained above the crucial $50 benchmark as a report of OPEC’s record production in September reflected a retreat in the market, according to Bloomberg MarketWatch. November West Texas Intermediate crude fell 56 cents, or 1.1%, to settle at $50.79 a barrel on the New York Mercantile Exchange. On …
(Associated Press) Oklahoma Gov. Mary Fallin plans to revise a proclamation inviting Christians to pray for the “blessings created by the oil and natural gas industry” to be more inclusive. Fallin spokesman Michael McNutt said Monday the proclamation declaring Thursday “Oilfield Prayer Day” will be revised to invite people of all faiths to pray for …
Crude oil futures surged on Monday, posting their best settlements in more than a year as favorable comments from Saudi Arabia’s energy minister and Russian President Vladimir Putin appeared to set the stage for ensuring a production cap in the near future, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, November West Texas …
U.S. ethanol exports rose 12% in August compared to July according to government trade data analyzed by the Renewable Fuels Association. The exports totaled 77.9 million gallons as Brazil increased its purchases of U.S. product by 65% over July, thereby making up 32% of the total exports. Canada and India also increased their purchases—-Canada buying 20.9 …
Tulsa-based Williams Companies announced Thursday that three current Board of Directors members will voluntarily not stand for re-election upon the expiration of their terms at the 2016 Annual Meeting. The three Board members are: Joseph Cleveland, a director since 2008 and former chief information officer at Lockheed Martin Corporation. Cleveland previously held executive positions at …
Oil futures retreated back under the crucial benchmark of $50 on Friday despite posting their third weekly consecutive gain, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, November West Texas Intermediate crude fell by 63 cents, or 1.3%, to settle at $49.81 a barrel. For the week, prices reflected an increase of nearly 3.3% …
The latest rig count from Houston-based Baker Hughes shows an increase nationally and in Oklahoma. The firm that services oil and gas rigs nationally reported the U.S. count grew by 2 to reach 524 while the Oklahoma count added two as well, hitting 70 active rigs. Nationally, the number of oil rigs grew by 3 …
