Republican presidential candidate Donald J. Trump is scheduled to attend a campaign fundraiser in Norman on Saturday, September 17 near the University of Oklahoma campus. The venue isn’t listed on the invitation but it will be within walking distance of the OU campus, where the No. 14-ranked Sooners will host the No. 3-ranked Ohio State …
Category: Oil & Gas
WTI, Brent Crude End Lower on Friday, Higher for the Week
Oil futures repeated a similar pattern for the last few weeks on Friday, settling lower for the day but higher for the week, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude fell $1.74, or 3.7%, to settle at $45.88 a barrel. For the week, WTI saw a gain of …
WPX Energy Files Fraud and Trademark Infringement Lawsuit Against Impostor
Tulsa-based WPX Energy filed a federal lawsuit Tuesday against an unknown individual for trademark infringement and related fraud, according to a report in The Tulsa World. The suit was filed in the U.S. District Court for the Northern District of Oklahoma against John Doe, an unknown defendant. The lawsuit alleges that the scammer intentionally violated …
BH Rig Count: Oklahoma Loses Four Rigs
The latest weekly oil and gas rig count revealed a jump in U.S. offshore rigs as the rest of the nation showed minimal growth, according to Baker Hughes. Oklahoma’s count fell by 4 in the past week to reach 62 compared to 106 a year ago. The nation’s rig count rose by 11 to reach …
SandRidge Bankruptcy Plan Confirmed
SandRidge Energy Inc. announced Friday that its Chapter 11 reorganization plan was confirmed, allowing the company to exit bankruptcy proceedings within 30 days. The Oklahoma City-based company had nearly $7 billion in assets when it filed a pre-packaged bankruptcy plan in south Texas on May 16 to restructure $3.7 billion of the company’s $4.4 billion …
Massive Decline in Crude Oil Supplies Leads to Big Gain for WTI, Brent Crude on Thursday
Oil futures soared on Thursday after U.S. government data revealed the largest drop in crude supplies since 1999, according to Bloomberg MarketWatch. The 14.5 million-barrel decline reported by the Energy Information Administration was even larger than the surprise 12.1-million barrel drop reported by the American Petroleum Institute late Wednesday. Ahead of both reports, analysts polled by S&P Global …
Enterprise Products Withdraws Proposals for Williams Merger
Houston-based Enterprise Products Partners announced Wednesday that it is no longer interested in pursuing a merger with Tulsa-based Williams Companies. Enterprise Products cited “recent news leaks, movements in the price of the partnership’s common units as well as questions from investors” as the reason behind the company’s withdrawal of its non-binding proposals to merge with …
Spectra Energy to Merge With Enbridge in $28 Billion Deal
Canada’s Enbridge, Inc. announced Tuesday it is acquiring Houston-based Spectra Energy Corp. in a stock-for-stock merger transaction valued at nearly $28 billion. The deal will create the largest energy infrastructure company in North America. “Over the last two years, we’ve been focused on identifying opportunities that would extend and diversify our asset base and sources …
Williams Announces Corporate Realignment
Tulsa’s Williams Companies announced Wednesday that it is implementing organizational changes to simplify its corporate structure and further advance its natural gas-focused strategy. By early 2017, Williams will consolidate the number of company operating areas from five to three. They include Atlantic-Gulf, West and Northeast Gathering & Processing. The Atlantic-Gulf operations will remain under the leadership …
Crude Oil Futures Settle Higher on Wednesday
Oil futures settled at their highest level on Wednesday in nearly a week and ahead of the latest governmental updates on U.S. crude oil supplies, according to Bloomberg MarketWatch. October West Texas Intermediate crude added 67 cents, or 1.5%, to settle at $45.50 a barrel on the New York Mercantile Exchange. On London’s ICE Futures …