Following activist investor Carl Icahn’s recent divestiture of nearly half of his holdings in Oklahoma City-based Chesapeake Energy Corporation, the company disclosed the resignation of two board members. Chesapeake filed a Form 8-K with the U.S. Securities and Exchange Commission on Tuesday which revealed the immediate resignation of Vincent J. Intrieri and John J. “Jack” …
Category: Oil & Gas
Mexico Says Its Shale Oil Fields will be Open to US Drillers in Early 2017
The huge shale oil fields in Mexico could be open to U.S. drillers as early as March 2017, according to Mexico’s energy secretary Pedro Joaquin Coldwell. It’s what he told energy executives, attorneys and academics last week at Rice University saying the auctions for the northern Mexico shale fields will be part of his country’s …
Demand will Exceed Oil Output in 2017 Predicts International Energy Leader
The head of the International Energy Agency predicts global oil output will exceed demand until late next year. The prediction comes from Fatih Birol who is Executive Director of the IEA. “We don’t see the oil market re-balancing until late 2017 provided there’s no ‘major intervention’,” he said in an interview this week with Bloomberg …
No Slump Expected at Upcoming Oklahoma Oil and Gas Expo
The 20th annual Oklahoma Oil and Gas Expo presented by the OERB and SOER will be held Oct. 6 on the Oklahoma State Fair Park in Oklahoma City. “It’s our 20th anniversary which we’re very proud of, the longest running and largest oil and gas expo in the state,” declared Katy Spetter, one of the …
Williams Adds Two Board Members, Pledges to Add Two More Before Annual Meeting
Tulsa-based Williams Companies, Inc. announced Monday that the company has appointed Stephen Chazen and Peter Ragauss to the company’s Board of Directors effective immediately, motivating activist investor Keith Meister of Corvex Management LP to withdraw his plan for a proxy battle. Chazen retired as Chief Executive Officer of Occidental Petroleum Corporation in April 2016, and …
Crude Oil Futures Rise Over 3% on Monday
Crude oil futures rebounded on Monday as investors weighed the possibility that major producers will make progress this week on a pact to limit production, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, November West Texas Intermediate crude climbed $1.45, or 3.3%, to settle at $45.93 a barrel, after losing nearly 4% in Friday’s …
Oklahoma Legislative Interim Studies Update
Several energy-related legislative interim studies are now scheduled to take place at the Oklahoma State Capitol over the next two months. They include: Wednesday, September 28, 2016 10:00 a.m. – 4:30 p.m. State Capitol, Room 535 Senate Interim Study 16-022 Oklahoma Drones (Simpson) Speakers will include Stephen Henderson with the University of Oklahoma; James Grimsley …
Montana Frac Rules Stay in Place—-Energy Companies Won’t be Forced to Reveal More Details of Chemicals
About the same time Continental Resources founder Harold Hamm told an Energy Insight conference in Pittsburgh, “Don’t call me the ‘F’ word,” fracking opponents lost a bid in Montana to force energy companies to reveal more information about their fracking chemicals. Regulators in Montana turned back the push by the environmentalists, health advocates and even …
Pipeline Builder Buys Ranch Near Site of North Dakota Protests
While Dallas-based Energy Transfer Partners has been busy fighting protesters as well as the federal government over its construction of a nearly $4 billion pipeline in North Dakota, the firm has been buying a 6,000 acre ranch near the protest sites. A report said the company confirmed the purchase but is not offering any other …
Some See a Recovery Underway for Oil and Gas
Recovery in the oil and gas sector? Some reports suggest it is happening following the past two rough years of a downturn, according to a published report in The Tulsa World. Over the weekend, the newspaper quoted some analyst and industry officials who expressed optimism in the market. “Recently, some E and P companies have …