With West Texas Intermediate remaining below $50 a barrel, crude oil futures climbed on Thursday as traders seemed optimistic about the possibility of an OPEC production output deal and a surprise drop in domestic crude inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, December WTI crude gained 54 cents, or 1.1%, to end …
Category: Oil & Gas
Devon CEO Talks of 4,000 barrel a day Oil Wells in STACK
Wells testing close to 4,000 barrels a day in Oklahoma’s STACK? It’s what Devon Energy CEO Tony Vaughn was talking about Thursday when he delivered an afternoon keynote address at Hart Energy’s DUG Midcontinent convention in Oklahoma City. “A very special position—a very special play,” he told the audience at the Cox Convention Center, explaining …
Ponca Tribal Members Critical of Injection Wells Causing Earthquakes
While the city of Pawnee and the Pawnee Nation prepare to hold an earthquake forum on Saturday, some members of the Ponca Tribe make it clear they firmly blame the energy industry’s wastewater injection wells for causing earthquakes in the region. Especially the 5.8 magnitude early-September quake that turned out to be the strongest ever recorded …
Houston Firm Hits 1,000 Barrel a Day Well in STACK
The latest 1,000 barrel-a-day plus-well to be hit in Oklahoma’s STACK is reported by Houston, Texas based Oklahoma Energy Acquisitions LP. The firm’s completion report, as published Thursday by OK Energy Today, indicated the Lankard well saw production of 1,039 barrels of oil a day along with 3,519 Mcf of gas. The well had an …
Bankrupt Samson Resources gets Approval to Unload 4660 million in Assets
Tulsa-based Samson Resource won the approval of a federal bankruptcy judge this week in moving ahead with the sale of an estimated $660 million in assets. Samson owes $4 billion in debt and filed for Chapter 11 protection 13 months ago. This week, Judge Christopher Sontchi with the U.S. Bankruptcy Court for the District of …
Baker Hughes Declares Quarterly Dividend of $0.17 per Share for Third Quarter 2016
Oilfield services provider Baker Hughes Incorporated announced Wednesday its Board of Directors declared a regular quarterly cash dividend of $0.17 per share of common stock payable on November 18, 2016 to shareholders of record on November 7, 2016 for the third quarter of 2016. “Looking ahead, in the fourth quarter of 2016, we expect activity …
Despite Surprise Inventory Fall, WTI and Brent Crude Settle Below $50 on Wednesday
Weary of increasing doubts that Iraq will agree to an OPEC production cut, crude oil prices settled at their lowest level in nearly three weeks on Wednesday, according to a report by Bloomberg MarketWatch. On the New York Mercantile Exchange, December West Texas Intermediate crude fell by 78 cents, or 1.6%, to settle at $49.18 a …
Pawnee to be Site of Weekend Earthquake Forum
Pawnee, the city hit by an early September earthquake measuring 5.8 magnitude, the largest ever recorded in Oklahoma plans to host an earthquake forum on Saturday. The forum will also be hosed by the Pawnee Nation of Oklahoma t the Pawnee Nation Roam Chief Event Center, 810 Morris Road in Pawnee. it will be held …
Devon Co-Founder Larry Nichols To Be Honored by OU College of Law
Devon Energy Corporation’s co-founder and chairman emeritus, Larry Nichols, will be honored with the Eugene Kuntz Award at the University of Oklahoma College of Law’s annual conference on natural resources law and policy on November 4. The award recognizes Nichols’ many contributions to the energy industry, particularly oil and gas law. “We are thrilled to …
DUG Midcontinent Getting Underway in OKC
Hart Energy’s 4th annual DUG Midcontinent conference is underway in downtown Oklahoma City with keynote addresses to take place Thursday. The opening keynote will be Thursday morning at 8:35 featuring Wade Hutchings, Regional Vice President of Midcontinent Assets at Marathon Oil Corporation. A 9 a.m. economics panel will feature Ed Morse, Managing Director and Global …