Crude oil futures soared on Monday as traders held hope that OPEC may succeed in its plan to curb crude output, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude jumped $1.02, or 2.2%, to settle at $47.08 a barrel, marking the first session gain since November 21. On …
Category: Oil & Gas
DAPL Protesters Told by Army Corps to Vacate Encampment by December 5
The Standing Rock Sioux Tribe was notified on Friday by the U.S. Army Corps of Engineers that the North Dakota encampment area must be vacated by December 5 for safety concerns. The area has been occupied for months by protesters opposing the four-state, $3.8 billion Dakota Access pipeline under construction by Dallas-based Energy Transfer Partners. …
Crude Oil Futures Finish Lower on Friday
Crude oil futures prices fell Friday, as traders awaited decisions from next week’s OPEC production meeting where the cartel could strike a deal to cut output, according to Bloomberg MarketWatch. West Texas Intermediate crude futures finished down $2.02, or 4.2%, at $45.93 a barrel on the New York Mercantile Exchange. For the week, the contract …
Crude Oil Futures End Lower on Wednesday Despite Drop in Supply Inventory
Despite a decline in domestic crude supplies, oil futures finished slightly lower on Wednesday, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude fell by 7 cents, or 0.2%, to settle at $47.96 a barrel. On London’s ICE Futures Exchange, January Brent crude, the global benchmark, lost 17 cents, or …
Chaparral Announces Founder/CEO Retirement, Path to Emerge from Bankruptcy
Oklahoma City-based Chaparral Energy LLC has cleared the way with its lenders to emerge from bankruptcy. The company also announced the retirement of Mark Fischer, Chaparral’s founder and CEO, according to a report by The Oklahoman. The agreement — which requires approval by the bankruptcy court — would convert $1.2 billion in outstanding debt to …
Williams Refreshes Board With Election of Eight New Members
Shareholders of the Williams Companies elected all of the nominees on the ballot for the company’s board of directors to one-year terms at the company’s 2016 annual meeting held on Wednesday, according to a report by The Tulsa World. The five new board members include Stephen Bergstrom, former president and CEO of general partner American …
Natural Gas Gains While Crude Oil Futures End With Mixed Results on Tuesday
U.S. crude oil futures fell on Tuesday after a report indicated OPEC will postpone its attempt to obtain a production cut until after November 30, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude fell by 21 cents, or 0.4%, to settle at $48.03 a barrel. On the London ICE …
Williams Declares Quarterly Dividend of $0.20
Tulsa-based Williams announced Tuesday that its board of directors approved a regular dividend of $0.20 per share on the company’s common stock. The dividend is payable on December 27, 2016 to shareholders of record on December 9, 2016. Williams has paid a common stock dividend every quarter since 1974.
Western Oklahoma Seeing New Wells
Just some observations about recent completion and permits to drill reports as shown on the well reports of OK Energy Today. While Oklahoma’s STACK play has been getting the press and the big wells, western Oklahoma manages to produce some wells of its own, although nothing in comparison to the STACK wells. Denver-based Fourpoint Energy …
WTI, Brent Crude Post Higher Settlements on Monday, Despite Prices Below $50 a Barrel
Crude oil futures climbed to a three-week high on Monday, as OPEC members continued to work out a production freeze and expectations that the Trump presidency will bring relaxed regulation, according to Bloomberg MarketWatch. December West Texas Intermediate crude added $1.80, or 3.9%, to settle at $47.49 a barrel on the New York Mercantile Exchange on …