State officials in North Dakota are investigating a saltwater spill from an oilfield tank that overflowed last week near the city of Marmarth. The North Dakota Department of Health estimated 16,800 gallon spilled in the overflow along with more than 100,000 gallons of saltwater and oil. Marmarth is a town in southwest North Dakota and …
Friday was another day of ups and downs as oil futures produced weekly gains while crude prices closed out the week on a lower note, according to Bloomberg MarketWatch. June West Texas Intermediate crude lost 41 cents, or 0.9%, to end trade on the New York Mercantile Exchange at $47.75 a barrel. For the week, …
While the national rig count slipped by 2 in the past week to reach a total of 404, the count in Oklahoma increased by one to reach a total of 57 working oil and gas rigs, according to the latest data from Baker Hughes Company of Houston, Texas. The national count shows 318 working oil …
Federal investigators blame “external corrosion” for the massive Plains All-American pipeline oil spill that occurred May 19, 2015 in Santa Barbara County, California and say the company could have prevented it. The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration, in a 510-page report, blamed the company’s failure to “protect the pipeline from …
The passage of the bill creating a $12.5 million cap on tax credits for at-risk oil and gas wells in Oklahoma by the State House didn’t come without some opposition. Although the 93-2 passage didn’t appear to offer much opposition, two Representatives, Cory Williams, a Democrat from Stillwater and Mike Brown, a Democrat from Tahlequah …
In a shocking move while burning the midnight oil prior to sine die adjournment, the Oklahoma House of Representatives suspended the rules late Thursday night and introduced an untimely filed amendment to Senate Bill 1577 which aims to cap the at-risk oil and gas well tax credit at $12.5 million annually for calendar years 2015-2020. …
Crude oil futures finished lower on Thursday as a possible June rate hike by the U.S. Federal Reserve factored into investor uncertainty, according to Bloomberg MarketWatch. June West Texas Intermediate crude fell 51 cents, or 1.1%, to end trading at $47.68 a barrel on the New York Mercantile Exchange. Earlier in the day, WTI traded …
An attorney who filed a class-action lawsuit in southern Oklahoma accusing SandRidge Energy of the same kind of conspiracy allegations leveled in federal lawsuits does not believe the company’s Chapter 11 bankruptcy will affect his suit. Attorney Jim Sill responded after SandRidge attorneys filed a stay for the suit in Stephens county, according to a …
Another Texas-based exploration and production company with deep interests in Oklahoma reports it experienced a net loss of $29 million in the first quarter of the year. EV Energy Partners, L.P. based in Houston says the loss figured to $0.58 per basic and diluted weighted average limited partner unit. The adjusted earnings before taxes …
It’s all about profit when it comes to drilling for oil and natural gas and producing it. Ask any of the energy producers who have gone to Chapter 11 reorganization bankruptcy. It’s also how the big companies continue to exist—making sure there is profit when a well is completed and starts producing. A report …
