Devon Energy’s 2015 investment in 80,000 acres in Oklahoma’s oil-rich STACK play in Blaine, Canadian and Kingfisher counties is paying off as the company reports hitting another well that’s producing nearly 2,000 barrels a day. The “Blue Ox” well is located in Blaine County and south of State highway 3 midway between Kingfisher and Watonga. It …
WPX Energy is trimming its workforce again. The oil and natural gas producer is cutting 41 additional jobs in Tulsa, which represents 6 percent of the company’s workforce, according to an announcement on Monday. The cuts affect service-related positions related to measurement, land, marketing, finance, accounting, human resources and information technology. WPX said it will …
Oil futures edged slightly higher on Monday, buoyed by Venezuelan reports that suggest a deal to stabilize the global oil supply is imminent between nations inside and outside OPEC, according to Bloomberg MarketWatch. October West Texas Intermediate crude added 27 cents, or 0.6%, to settle at $43.30 a barrel on the New York Mercantile Exchange. November …
Those oil and gas rig counts issued on Fridays by Houston-based Baker Hughes Company can sometimes be confusing. Take for instance the case of the firm’s report that the rig count in Kansas is zero, same as it was last week. However, another listing of rig activity indicates Kansas has at least 31 active rigs. …
Oklahoma led the way last week with three new rigs while the U.S. rig count fell by two, according to the Baker Hughes rig count released on Friday. Canada lost two rigs for a total of 132. Canada is down 50 rigs when compared with data from a year ago. The U.S. rig count deceased …
Oil futures continued to fall on Friday, with WTI settling near $43 and Brent crude barely making it over $45, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude fell 88 cents, or 2%, to settle at $43.03 a barrel, marking its lowest finish since August 10. For the week, …
Oil futures showed a slight increase on Thursday despite weeklong trading volatility and economic data suggesting a possible decline in energy demand, according to Bloomberg MarketWatch. October West Texas Intermediate crude rose 33 cents, or 0.8%, to end trading at $43.91 a barrel on the New York Mercantile Exchange. November Brent crude, the global benchmark, added …
Oklahoma City-based Chesapeake Energy Corporation lost its appeal in a $438 million bond dispute by a unanimous 3-0 vote of the U.S. Second Circuit Court of Appeals on Thursday. The Manhattan federal appeals court agreed with bond trustee, BONY Mellon, that bondholders were contractually entitled to a special “make-whole” price due to the early redemption. …
If the International Energy Agency is correct, this current oil bust will be responsible for creating the longest period of declining investment in the energy industry in half a century. Oil and gas investment dropped by 25 percent last year to just $583 billion, according to the report from Fatih Birol, the executive director …
Latest oil production figures from the U.S. Energy Information Administration. New-well oil production per rig barrels/day New-well gas production per rig thousand cubic feet/day Region September 2016 October 2016 change September 2016 October 2016 change Bakken 875 896 21 1,189 1,228 39 Eagle Ford 1,153 1,170 17 3,335 3,382 47 Haynesville 31 31 – …
