Another acquisition has been made by Schlumberger as it expands its holdings in the U.S. This time, the company has acquired Omron Oilfield and Marine Inc., based in Houston, Texas. Omron is considered a global leader in automation technology and solutions and has 139 employees. It designs, manufactures, sells, and provides aftermarket services for automated …
Oil futures fell on Friday after marking three weeks of gains, according to Bloomberg MarketWatch. July West Texas Intermediate crude slid 55 cents, or 1.1%, to end trade on the New York Mercantile Exchange at $48.62 a barrel. August Brent crude, the global benchmark, tumbled 40 cents, or 0.8%, settling at $49.64 a barrel on …
The latest figures from Baker Hughes Company in Houston, Texas show Oklahoma’s number of working oil and gas rigs dropped by two in the past week, reaching a total of 57. At the same time, the national count grew by four to hit 408. A year ago, Oklahoma had 106 working rigs and there were …
A report by Energy Law 360 indicates a settlement of sorts about joint disclosures of tax consequences has been made by the Williams Cos. of Tulsa and Dallas-based Energy transfer Equity LP in their proposed merger that’s turned into a legal fight. The energy law website indicates that attorneys for both sides told a Delaware …
Oil futures ended on a higher note Thursday after OPEC members failed to reach an agreement limiting oil production and weekly government reports confirmed a reduction in U.S. crude inventories, according to Bloomberg MarketWatch. July West Texas Intermediate crude tacked on 16 cents, or 0.3%, to end trading on the New York Mercantile Exchange at …
Tulsa-based NGL Energy Partners announced this week that because of an improper accounting of royalty payments it would have to restate its earnings for the past three quarters. In a filing with the Securities and Exchange Commission, the company admitted it had not properly accounted for royalty payments associated with the water solutions agreement. As …
The oil and gas producers in Osage County who sued the Bureau of Indian Affairs for allegedly delaying applications for drilling permits had their suit thrown out of court Wednesday by Tulsa U.S. District Judge Gregory Frizzell. He dismissed the suit without prejudice and in essence, agreed with the BIA that the Osage Producers …
Schlumberger, the world-wide company with operations in Oklahoma City and El Reno has widened its holdings with the purchase of a France-based engineering, manufacturing and service company. The cost isn’t known but Schlumberger has acquired Saltel Industries, a firm that offers expandable patches and steel packers technology in the oil and gas industry. Saltel is …
A review of Colorado’s year-old law increasing fines on energy companies for breaking health, safety and environmental rules shows firms might be more careful with their operations. The Associated Press found that regulators levied 74 fines totaling $5.3 million in the past year, far more than any year for the past 20 years. The …
A Pennsylvania judge has thrown out a lawsuit filed by landowners upset with fracking opponents. A developer and a dozen of the landowners sued the opponents, seeking damages for royalties they were not able to collect from gas drilling companies who have leases to drill on their land in western Pennsylvania. The fracking opponents argued …
