September 1 is the deadline for Bakken region “man camps” to shut down in Williston, North Dakota. The Williston City Commission gave final approval to an ordinance eliminating the temporary camps for oilfield workers. Operators can seek permission to reopen the man camps if the oil and gas industry goes full throttle again. Many of …
Category: Oil & Gas
WTI and Brent Crude Post Modest Increases on Friday
Oil futures managed to hold on to a slight gain on Friday, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude rose 31 cents, or 0.7%, to settle at $47.64 a barrel. For the week, prices lost about 3% following gains over the last three weeks. On London’s ICE …
Canada Tops the Baker Hughes Rig Count, Adding 25 Rigs
The number Canadian rigs surged dramatically while the U.S. rig count fell by two this week, according to the Baker Hughes rig count released on Friday. Canada garnered the most activity this week, adding 25 rigs for a total of 146. Canada is down 50 rigs when compared with data from a year ago. The …
Williams Announces $250 Million Stock Purchase From Williams Partners
The Williams Companies Inc. announced Friday that it will purchase 6.975 million common units from Williams Partners L.P. for approximately $250 million. The price per common unit of $35.84 is equal to the average of the high and low trading prices of the Partnership’s common units on the New York Stock Exchange for each of …
Protestors Voice Concern Over Pipeline at Norman Board of Adjustment Meeting
Several dozen Norman citizens attended a Wednesday night Board of Adjustment meeting in the city council chambers to voice their concern over a proposed oil pipeline, according to a report by Grant Hermes of News 9. The Red River Pipeline would stretch 350 miles from Longview, Texas to Cushing, Oklahoma. A portion of the line …
First Trial Set for Williams in Deadly 2013 Louisiana Plant Explosion
A state district judge in Louisiana has cleared the way for the first civil trial brought by workers injured in a fatal 2013 plant explosion and fire at the Williams Olefins complex near Baton Rouge. Two men were killed and 114 workers were injured in the June 13, 2013 blast at the facility located in …
Key Energy Services Restructuring, Plans to File Chapter 11 Bankruptcy
Houston-based oilfield service company Key Energy Services Inc. plans to file for chapter 11 bankruptcy protection in Delaware by November 8. Under the company’s restructuring plan, Platinum Equity LLC would become its largest shareholder, according to a report filed with the U.S. Securities and Exchange Commission on Thursday. Holders of senior notes would own about 95 …
Natural Gas Up Nearly 23% for Year, WTI and Brent Close Below $50 on Thursday
Natural gas futures climbed higher on Thursday while crude oil futures reclaimed some of the day’s prior losses, according to Bloomberg MarketWatch. September natural gas rose 5 cents, or 1.8%, to settle at $2.846 per million British thermal units on the New York Mercantile Exchange. Settlements are up nearly 11% for the week and 23% …
Enable Midstream Taps Craig Harris for Executive VP Role
Oklahoma City-based Enable Midstream Partners, LP has named Craig Harris as its executive vice president and chief commercial officer, according to a corporate press release issued on Thursday. Harris will join the company effective September 6. “I am pleased to welcome Craig to the Enable team,” said Rod Sailor, Enable’s president and CEO. “He brings …
Oil Futures Settle Lower on Wednesday as EIA Reports Rise in Inventories
Oil futures plunged on Wednesday following news from a weekly government report confirming a larger-than-expected increase in crude oil inventories, according to Bloomberg MarketWatch. October West Texas Intermediate crude dropped $1.33, or 2.8%, to settle at $46.77 a barrel on the New York Mercantile Exchange. Prices traded around $47.50 a barrel before supply data. On …