In an effort to transform itself through restructuring, Oklahoma City-based Devon Energy Corp. announced on Wednesday that it will sell all remaining non-core assets in the Midland Basin of west Texas for a combined $858 million in two separate transactions. The latest non-core divestitures bump up the company’s recent sales amounting for nearly $2.1 billion, according to the company’s …
Category: Oil & Gas
Oil Futures Fall Lower on Wednesday
Crude oil futures finished lower on Wednesday as traders remained concerned about the buildup of U.S. oil supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude slid 48 cents, or 1%, to end trading at $48.01 a barrel, marking a fifth consecutive decline. Earlier in the day, WTI …
Bar Association Luncheon to Hear Update on Earthquakes in Oklahoma
Water and earthquakes will be the topic of the Oklahoma Bar Association’s General counsels’ Forum luncheon on Friday in Oklahoma City. Dr. Kyle E. Murray, a hydrogeologist for the Oklahoma Geological Survey and Adjunct Faculty for the ConocoPhillips School of Geology and geophysics at the University of Oklahoma will be the speaker. As the …
Senate Approves National Pipeline Bill
President Obama is expected to sign a final version of legislation approved this week by the U.S. Senate to ensure the safety of the nation’s pipeline network. Approval of S. 2276, the PIPES Act came Tuesday night and reauthorizes the Pipeline and Hazardous Materials Safety Administration (PHMSA) through fiscal year 2019. Senator Jim Inhofe, chairman …
Nation’s First Study of Fracking Wells Emissions Completed in Colorado
In a study that will be the first of its kind nationwide, Colorado researchers plan to assess new data on air pollution from fracking wells in their state and use it to determine whether the emissions are harmful to human health. New data was released this week after a three-year study at Colorado State University measured …
Report Claims 40 Counties in Oklahoma at High Cancer Risk from Oil and Gas Industry Fumes
Oklahoma is considered among a handful of states with the greatest cancer risk to oil and gas workers from methane and air toxics emissions in the industry, according to a new report from the Clean Air Task Force. The study found that areas with the greatest health risk are generally located in states with the …
Crude Oil Futures Fall Lower on Tuesday as Inventories Rise
Oil futures continued their descent further from the key $50 a barrel mark on Tuesday as a government report revealed yet another increase in U.S. crude inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude fell 39 cents, or 0.8%, to end trade at $48.49 a barrel, resulting …
Gas Flaring Practice Plunges in North Dakota
While the federal government’s targeting natural gas flaring on federal lands, the practice in the state where the highest amount has been carried out has fallen sharply since 2014. North Dakota’s flaring as of March 2016 was down to 10%, less than a third of the January 2014 flaring rate of 36%, according to figures …
Production Concerns and Lower Crude Oil Settlements Cloud Monday Futures
Oil futures finished down on Monday as trading closed amid concern about an increase in production, according to Bloomberg MarketWatch. July West Texas Intermediate crude had its lowest finish since June 3, dropping 19 cents, or 0.4%, to end trade on the New York Mercantile Exchange at $48.88 a barrel. On London’s ICE Futures exchange, …
Colorado Company Makes Big Buy in Marcellus
Denver, Colorado-based Antero Resources Corporation announced it has signed an agreement to buy 55,000 net acres in the core of the Marcellus Shale for $450 million. It identified the seller only as a “third-party” but said 75% of the acreage contains dry Utica rights. The purchase also includes undeveloped properties located primarily in Wetzel, Tyler …