The U.S. Environmental Protection Agency wants to boost renewable fuels standards for 2017, increasing the amount of corn-based ethanol and biofuels that fuel producers will have to mix into diesel and gasoline. Under the standards announced this week, the EPA wants 18.8 billion gallons to be blended into the nation’s fuel supply next year which …
Another down week for ethanol production in the U.S. as the U.S. Energy Information Administration reports production was down 14,000 barrels a day from the previous week. The production ending May 13 averaged 948,000 barrels a day or 39.82 million gallons. The four-week average for ethanol production stood at 940,000 barrels a day which translates …
American Energy Partners, LP laid off almost half of its Oklahoma City workforce as company officials announced that they would wind down business operations over the course of the next few months, according to a report published late Wednesday by The Oklahoman. “After considerable thought and discussion with Aubrey McClendon’s family and our employees, we have …
Crude oil futures stumbled on Wednesday, resulting in a turnabout by investors who were distracted by the possibility of an interest rate hike next month by the U.S. Federal Reserve, according to Bloomberg MarketWatch. June West Texas Intermediate crude slid 12 cents, or 0.3%, to end trading on the New York Mercantile Exchange at $48.19 …
Continuing low natural gas prices forced Tulsa-based Samson Resources Corp. to file an amendment to the Chapter 11 bankruptcy plan it filed last fall. Company management says the new plan will allow the firm to operate on a go-forward basis with significantly less long-term debt and lower annual interest payments. The company blamed the decline …
Oklahoma City-based Continental Resources, Inc. says it has struck a huge well in Blaine County, one producing more than 3,300 barrels of oil equivalent a day. Drilled in the STACK, the well is an industry record well, according to the announcement by Continental Resources. The Verona well flowed at an initial 24-hour test rate of …
While legislators shout and bicker over where to raise new revenue to offset a $1.3 billion budget hole, their actions to protect the oil and gas industry from taking a hit are being noticed by others. A report by Reuters paints the picture of legislators protecting the industry from being hurt by reduced tax credits …
University of Texas researchers now are making the claim that nearly 90 percent of the earthquakes in Texas in the past ten years have been caused by oil and gas activities. Geoscientist Cliff Frohlich at the University of Texas-Austin is one of them and believes nearly nine in 10 of the quakes were directly the …
TransCanada, the company still fighting to build the Keystone XL pipeline across the Midwest is buying Columbia Pipeline Group Inc. in a nearly $13 billion agreement. It also owns and operates the Keystone pipeline extending from Cushing, Oklahoma south to the Gulf Coast. Columbia’s Board of Directors has unanimously approved the deal involving a …
Oil futures thrust closer to $50 a barrel on Tuesday, reaching their highest settlement since early October after receiving confirmation that crude inventories were rapidly depleting, according to Bloomberg MarketWatch. June West Texas Intermediate crude ended at $48.31 a barrel on the New York Mercantile Exchange after posting a gain of 59 cents, or 1.2%. …
