Crude oil futures rallied on Friday as August’s slow job growth decreased pressure on demand for oil, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude rose $1.28, or 3%, to settle at $44.44 a barrel. For the week, prices were down roughly 6.7%. On London’s ICE Futures Exchange, …
Category: Oil & Gas
Oil and Gas Rig Counts Grow in Oklahoma and the U.S.
Both Oklahoma and the U.S. oil and gas rig counts grew over the past week with Oklahoma adding four more rigs to reach a total of 66 working rigs, according to figures released by Baker Hughes Company. The nation’s count grew by 8 to hit 497 working rigs including one more oil rigs and 7 …
Pioneer Wraps up $435 million Purchase from Devon Energy
Irving, Texas-based Pioneer Natural Resources Co. has finalized the $435 million dollar deal it made earlier in the year to buy nearly 28,000 Midland Basin core acreage from Oklahoma City-based Devon Energy. The acreage is located in Martin, Midland, Upton, Reagan, Glasscock, Andrews, Dawson, Gaines and Howard counties in Texas and has a production mix …
Pipeline Protesters End up in Jail
BISMARCK, N.D. (AP) — Arrests have been made in North Dakota and Iowa during protests against the construction of the Dakota Access oil pipeline. Authorities cut free a man who bound himself to construction equipment and arrested at least two protesters Wednesday during a rally near Highway 6 outside St. Anthony, North Dakota. The site …
West Texas Intermediate, Brent Plunge to $45 on Thursday
Oil futures closed down more than 3% lower on Thursday as doubts persisted over the potential for a crude oil production freeze, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude fell by $1.54, or 3.5%, to settle at $43.16 a barrel. On London’s ICE Futures Exchange, November Brent …
D&L Oil Tools Awarded API Certificates
Tulsa-based D&L Oil Tools announced on Tuesday that its Quality Management System has been granted API Q1 certification from the American Petroleum Institute. D&L was also awarded an 11D1 Monogram License for Packers and Bridge Plugs. Only two independent manufacturers in the U.S. have earned this distinction for both Packers and Bridge Plugs. The API …
Judge Approves More Time for SandRidge’s Bankruptcy Plan
A report by Bankrupt Company News indicates a federal judge has approved SandRidge Energy’s motion to extend the period during which the company can file a Chapter 11 plan. The original deadline is September 13th but a judge will hold a hearing on Sept. 8 to “confirm the plan of reorganization,” according to the publication. …
Texas Company Fights Protesters of Bakken Crude Pipeline in Iowa
While a federal judge in Iowa denied a request by Dallas-based Energy Transfer Partners to force a halt to protests of its controversial Dakota Access Pipeline, an activist on Wednesday chained himself to heavy machinery at the pipeline construction site. The Native American activist took the action as the judge in Des Moines refused to …
Man Admits to Stealing Oilfield Explosives in North Dakota
A man in North Dakota has signed a plea agreement with the government after he was arrested in May and charged with storing 200 explosives stolen from two oil and gas companies in the state. Prosecutors in Fargo say Tyler Porter used a cutting torch to open padlocked bunkers and steal the explosives. When they …
Big Gains for the Month, Lower WTI and Brent Crude Settlements on Wednesday
Oil futures settled lower on Wednesday after a U.S. government report revealed a larger-than-expected weekly increase in crude inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude slipped $1.65, or 3.6%, to settle at $44.70 a barrel. The settlement was the lowest since August 12. For the month, …