Despite posting healthy gains for a fourth consecutive month, oil futures fell while natural gas was up on Tuesday, according to Bloomberg MarketWatch. West Texas Intermediate crude for July fell 23 cents, or 0.5%, on the New York Mercantile Exchange, ending trade at $49.10 a barrel, after reaching slightly above $50 before settling lower. For …
Category: Oil & Gas
Tulsa’s D&L Oil Tools Has Second Layoff in 2016
Following a reduction in force of 78 employees earlier in March of this year, Tulsa-based D&L Oil Tools announced on Tuesday that it is eliminating 53 additional positions effective immediately, resulting in another decrease of almost 20 percent of its remaining workforce, according to the Tulsa World. “This has been an unbelievably tough year for …
NGL Posts 4th Quarter Loss of $207 million
Tulsa-based NGL Energy Partners LP recently reported a net loss of $207 million for the quarter ending March 31, 2016, which was also the end of the company’s fiscal year. It also said it made gains related to the sale of TLP GP and the early extinguishment of debt totaling $158.9 million. The adjusted EBITDA …
Iowa Based Energy Group Offering $132 million in Senior Notes
Ames, Iowa-based Renewable Energy Group, Inc is offering $132 million in senior notes in a sale that will end Thursday. The sale consists of 4.00% convertible senior notes due 2036 in a private placement to the qualified institutional buyers. The company has also granted the initial purchases an option to purchase up to another $20 …
Blueknight Energy to Make Presentation
Oklahoma City-based Blueknight Energy Partners L.P. plans to make a presentation this week at the Master Limited Partnership Association’s 2016 MLP Investor conference in Orlando, Florida. Mark Hurley, Chief Executive Officer, Brian Melton, Vice-President of Business Development and Alex Stallings, Chief Financial Officer will make the presentation at 11 a.m. Eastern Time on Thursday, June …
OIPA Hosts 2016 Annual Meeting in Las Colinas, Texas
The Oklahoma Independent Petroleum Association will hold its 2016 Annual Meeting at the Four Seasons Resort in Las Colinas, Texas on June 10-13. Touted as “one of the largest conferences hosted by a statewide oil and natural gas association in the nation,” the OIPA meeting will feature discussions on legislative updates, shale, natural gas and …
Baker Hughes Rig Count: Oklahoma Adds Two Rigs Last Week
The U.S. rig count remained unchanged at 404, according to the Baker Hughes weekly rig count released on Friday. Leading the pack with the largest gain in North America, Oklahoma added two rigs last week, bringing the cumulative number of active rigs to 59. A year ago, Oklahoma had 106 rigs. Louisiana gained one rig …
Oil Futures Slip on Friday, Remain Above $49 a Barrel
Oil futures closed out Friday on a lower note but continued to show a third-straight weekly gain, according to Bloomberg MarketWatch. July West Texas Intermediate crude slipped 15 cents, or 0.3%, to settle at $49.33 a barrel on Friday’s New York Mercantile Exchange. For the week, prices finished up roughly 1.9% based on the most …
ETE Seeks Merger Termination in Delaware Counterclaim as Dallas Case is Dismissed
Striking back against its antagonistic merger partner, Dallas-based Energy Transfer Equity, L.P. announced on Thursday that it recently filed its affirmative defenses coupled with a counterclaim in the Delaware Chancery Court lawsuit originally brought by The Williams Companies, Inc. on May 13. In the Delaware action, ETE also seeks a declaratory judgment allowing the company …
WTI Oil Climbs Above $50 on Thursday for First Time Since July
Crude oil futures hit the key mark of $50 a barrel on Thursday before retreating lower as traders remained cautious due to global output concerns and excessive storage supplies, according to Bloomberg MarketWatch. For the first time since last July, West Texas Intermediate crude under the new July contract advanced to $50.21 a barrel before …