The deadly exchange of missiles and bombs between Iran and Israel and the weekend decision by President Trump to use bunker busting bombs have affected crude oil prices. Which way might they go? It’s what Scott Mitchell talks energy with Jerry Bohnen about in today’s podcast.
Category: Oil & Gas
Crude oil prices plunged as US waited for Iran’s response to bombing attack
Iran’s weak response to the U.S. bombing attack on its nuclear weapons development operations came in the form Monday of missiles fired at a US airbase in Qatar while crude oil prices fell 6% with no apparent interruption of the flow of oil out of the Middle East. No casualties were reported in the missile …
Texas operator ordered to shut down well connected to earthquakes
When Oklahoma experienced months of earthquakes some years ago, state regulators had wastewater well operators to curtail or reduce their operations. Now Texas regulators are doing the same thing and recently targeted one specific company following earthquakes in the Permian Basin. The Texas Railroad Commission took steps last week against Blackbuck Resources, a company …
Small drop in oil and gas rig numbers in Oklahoma’s plays
Despite a drop of two drilling rigs in the past week, Oklahoma’s oilfield activity remained strong. Baker Hughes, in its most recent rig report, showed a decline only in the Granite Wash play where the decline of one rig left 13 others still active. The Cana Woodford added a rig to reach 21 for …
Western Colorado being opened by BLM to more oil and gas exploration
The federal government has just approved a 224-well oil and gas drilling project in western Colorado and at the same time opened a public comment period for more proposed drilling in the region. The Bureau of Land Management came out with an announcement after a court ordered the agency to redo its environmental analysis. …
Energy briefs
** Federal authorities are working to contain an oil spill in a tributary of the Cuyahoga River in Cleveland, Ohio, that may have come from a former nearby refinery. ** NASA’s experimental Relay 2 satellite had been dead in the sky since 1967 — until last summer, when it emitted a super-short and very powerful …
Acquisition of PHX Minerals to be final this week
The estimated $187 million acquisition of Fort Worth-based PHX Minerals Inc. by WhiteHawk Income Corporation is about to be finalized this week. WhiteHawk, a natural gas mineral and royalty company headquartered in Philadelphia, Pennsylvania announced that a majority of its outstanding shares of common stock, par value at $0.01666 per share were validly tendered …
Iran remains defiant—votes to shut down Strait of Hormuz
Instead of coming to the peace table following the U.S. attack on its nuclear weaponization plants, Iran on Sunday defiantly ordered the closing of the Strait of Hormuz, a shipping channel that is considered vital for at least 20% of the world’s daily oil flows. Sunday’s decision by Iran’s parliament is sure to have …
What Oklahoma regulators should do to handle jump in electricity demands
Oklahoma Corporation Commissioners are being advised by their own Public Utility Division to take certain steps to prepare for an expected flood of demands for increased electricity generation in the coming few years. It’s not a matter of 15 to 20 years down the road but perhaps 3 to 5 years. As Oklahoma confronts …
Mammoth Energy announces sale of fracking equipment
Two of Mammoth Energy Services’ subsidiaries have sold all of the company’s equipment used in its hydraulic fracturing business in a $15 million deal with MGB Manufacturing, LLC. Mammoth reported the sale in a filing with the Securities and Exchange Commission, explaining the sale was by subsidiaries Stingray Pressure Pumping LLC and Mammoth Equipment Leasing …