Crude oil futures fell on Thursday as investors remained cautious due to the existing glut of domestic oil inventories as crude production wanes, according to Bloomberg MarketWatch. September West Texas Intermediate crude slid by $1, or 2.2%, to settle at $44.75 a barrel on its first full trading day on the New York Mercantile Exchange as …
Category: Oil & Gas
Morrissette Plans One More Public Hearing on Earthquakes and Wastewater Disposal Wells
OKLAHOMA CITY (21 July 2016) – A state legislator who is terming out this year plans to convene one more public hearing to examine potential options for disposing of brine produced during oil and gas exploration. The House Committee on Energy and Natural Resources will convene an interim legislative study on the …
Oklahoma’s STACK Produces More Large Oil Wells
Oklahoma’s STACK is yielding more big wells, according to completion reports published by OK Energy Today. The two largest have been brought in by Houston-based Marathon Oil and were drilled in Blaine County. The largest produced 1,466 barrels of oil a day along with 2,474 mcf of gas out of the Mississippian formation. It’s the IRVEN JOHN …
Researchers Suspect Fracking is Behind Blanchard Earthquakes
As News 9’s Dana Hertneky reported this week, now the Oklahoma Geological Survey suspects fracking might be behind the recent surge in smaller earthquakes around Blanchard. “We’re a little mystified about what the cause is,” said Jeremy Boak, Director of the Oklahoma Geological Survey in an interview with Hertneky. “I think we have to give …
Stockpiles Down, Crude Oil Futures Up on Wednesday
Crude oil futures rose on Wednesday after government data confirmed that oil inventories fell for a ninth week in a row, according to a Bloomberg MarketWatch report. On the New York Mercantile Exchange, August West Texas Intermediate crude tacked on 29 cents, or 0.7%, to end trading at $44.94 a barrel. The contract, which expired …
Halliburton Reports Lower Earnings Worldwide
Halliburton’s second quarter earnings report shows a 15 percent drop in North America revenue but company leaders remain optimistic. Revenues totaled $1.5 billion and the operating loss came to $124 million. “Our second quarter results showed resilience in the face of another challenging quarter marked by lower activity levels and continued pricing pressure around the …
Big Gas Wells Drilled in SE Oklahoma
Among the latest moderately producing big wells in the state are two gas wells in Hughes County, Tulsa-based Petroquest Energy LLC reports two big gas wells near the community of Lamar. The largest is producing 3,884 mcf of natural gas. The LYNN well is in the Woodford play and had a January 12 spud date …
Work Underway for SOER’s 20th annual Oil and Gas Expo
It’s about two and a half months off, but work’s underway for the 20th Oil and Gas Expo in Oklahoma City sponsored by the Oklahoma Energy Resources Board and its organization called Sustaining Oklahoma’s Energy Resources. “Despite the downturn in the oil and gas industry, we’re still expecting a full crowd for the anniversary show,” …
U.S. Crude Oil Drops to 10-Week Low on Tuesday
Oil futures fell on Tuesday as skittish traders responded to the increasing glut of crude oil inventories with easing energy demand, according to Bloomberg MarketWatch. August West Texas Intermediate crude dropped 59 cents, or 1.3%, to settle at $44.65 a barrel on the New York Mercantile Exchange, its lowest close since May 9. On the …
Lawler Targets Oklahoma Among Other Sites for BP’s Lower 48 Production
Two years after he left Oklahoma’s SandRidge Energy to take over the Lower 48 operations of British Petroleum, David Lawler still has some sights set on Oklahoma oil production. It’s what he indicated in a recent interview with Forbes. Lawler, 46, is the brother of Chesapeake Energy Corp. CEO Doug Lawler. “It is an honor …