Five people were hospitalized following a western Kansas oilfield explosion on Monday morning. The blast occurred around 7:30 a.m. in an area southwest of Sharon Springs in Wallace County, Kansas. Fire Chief Jay Sharp with Rural Fire District 2 said workers were performing a drill stem test when something caused the gas to leak out of …
Crude oil futures continued their ascent on Tuesday, settling at their highest level since July 2015 after an energy watchdog lifted its demand forecast for this year and predicted that production cuts by major oil-producing nations will rebalance the market, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude added …
Oklahoma City-based Panhandle Oil and Gas Inc. announced several changes in executive leadership, according to a company press release issued on Tuesday. The exploration and production company named Paul F. Blanchard, Jr. as its new Chief Executive Officer effective January 1, 2017. Blanchard replaces Michael Coffman at the top post. OK Energy Today reported on …
Oklahoma City-based Seventy Seven Energy Inc. will be acquired by Houston-based Patterson-UTI Energy, Inc. in a merger worth $1.76 billion, according to a joint press release issued by both companies on Monday. As part of the all-stock transaction, Patterson-UTI will acquire all of Seventy Seven’s outstanding stock in exchange for 49.6 million shares of Patterson-UTI …
Despite the current surge in the crude oil market, one international organization hasn’t jumped on the OPEC congratulatory bandwagon for its efforts to curb production. Here’s why… In the crucial time leading up to the production cut, OPEC’s output rose to a record 34.2 million barrels a day in November, according to the International Energy …
President-elect Donald Trump will nominate Exxon Mobil Corp. CEO Rex Tillerson as his secretary of state, according to a late report on Monday by The New York Times. An ardent conservative, Tillerson, 64, began his lengthy career in the oil industry as an Exxon production engineer in 1975, working his way up the corporate ladder …
Official Statement from T. Boone Pickens on Rex Tillerson as U.S. Secretary of State President-elect Donald Trump’s anticipated selection of Rex Tillerson as America’s next Secretary of State is perfect. It would be tough to find someone more uniquely qualified to serve in that role. I’ve known Rex for decades. He is a thoughtful, strategic and …
On Monday, crude oil futures logged their highest settlements since July 2015 after more oil producing nations agreed to curb production in an effort to rebalance supplies, according to Bloomberg MarketWatch. “The latest development is buoying optimism in the market,” said Vivek Dhar, a commodities strategist at Commonwealth Bank of Australia. “It shows that the …
Following a sidelines discussion with President-elect Donald Trump at the Army-Navy football game in Baltimore on Saturday, former Texas Governor Rick Perry was expected for a formal meeting in New York on Monday to discuss the possibility of heading up the U.S. Energy Department, according to numerous media sources. The meeting was quickly confirmed on …
Three Oklahoma City-based energy companies are busy at work in Ohio these days. Oklahoma City-based Chesapeake Energy Corporation remains the top driller in Ohio’s Utica Shale according to a recent report by Kallanish Energy. Chesapeake received 825 permits since late 2010 from the Ohio Department of Natural Resources and its Division of Oil and Gas …
