Amidst the energy downturn, a Tyler,Texas company is investing more than $6 million in new headquarters in the Permian Basin. Mewbourne Oil has started construction on a 32,000-square-foot office in Hobbs, New Mexico. The Hobbs News-Sun quotes Mewbourne Oil President Ken Waits as saying the existing offices in the eastern New Mexico city are old …
The Williams Companies, Inc. inched closer to sealing the deal with merger partner, Energy Transfer Equity, L.P on Monday. In a company press release, Williams announced that the election deadline for its stockholders regarding the ETE merger acquisition is June 24, 2016 at 5 p.m. Eastern Daylight Time. If registered Williams stockholders desire to make …
Oil futures rebounded on Monday with significant jumps in both West Texas Intermediate and Brent crude, according to Bloomberg MarketWatch. July WTI crude jumped $1.07, or 2.2%, to end trade on the New York Mercantile Exchange at $49.69 a barrel. The settlement marked the greatest level reached since July 21, 2015. August Brent crude, the …
Oklahoma State Treasurer Ken Miller announced Monday that the monthly gross receipts reached a six-year low for the month of May while oil and natural gas gross production collections finally rose slightly over the month. But Miller also said all major revenue streams, income, sales, gross production, and motor vehicle taxes are lower than May …
Tulsa’s WPX Energy has priced a public offering of 49,500,000 shares of its common stock of nearly $485 million. In making the announcement, the company said it will use the net proceeds from the offering for general corporate purposes which might include an acceleration of drilling and completion activities as well as acreage acquisitions and …
Dallas-based Holly Energy Partners, L.P. has bought a 50% interest in Cheyenne Pipeline LLC in a $42.5 million cash deal. The remaining 50% interest remains in the hands of Plains All American Pipeline. The 87-mile crude oil pipeline runs from Fort Laramie, Wyoming to Cheyenne, Wyoming and carries 80,000 barrels a day. Holly Energy already …
Oklahoma City-based Devon Energy announced it’s made a $1 billion sale of some of its in Oklahoma and Texas and a royalty interest in the northern Midland Basin. It did not identify the buyers but said the largest transaction was for reserves in East Texas that sold for $525 million. It also sold its holdings …
Another acquisition has been made by Schlumberger as it expands its holdings in the U.S. This time, the company has acquired Omron Oilfield and Marine Inc., based in Houston, Texas. Omron is considered a global leader in automation technology and solutions and has 139 employees. It designs, manufactures, sells, and provides aftermarket services for automated …
Oil futures fell on Friday after marking three weeks of gains, according to Bloomberg MarketWatch. July West Texas Intermediate crude slid 55 cents, or 1.1%, to end trade on the New York Mercantile Exchange at $48.62 a barrel. August Brent crude, the global benchmark, tumbled 40 cents, or 0.8%, settling at $49.64 a barrel on …
The latest figures from Baker Hughes Company in Houston, Texas show Oklahoma’s number of working oil and gas rigs dropped by two in the past week, reaching a total of 57. At the same time, the national count grew by four to hit 408. A year ago, Oklahoma had 106 working rigs and there were …
