The latest crude oil stock report shows the Cushing Hub in Oklahoma lost millions of barrels of oil in the past week while the nation increased its supplies. According to the U.S. Energy Information Administration, the Cushing Hub supply declined 4.5 million barrels, falling from 29.7 million barrels on Nov.1 to 25.2 million barrels …
After more than 18 months of back-and-forth attempts to acquire PHX Minerals of Fort Worth—WhiteHawk Energy of Philadelphia got its answer. It was a resounding no. The response finally came from PHX’s Board of Directors. ” We and PHX management continue to review opportunities that are focused on maximizing stockholder value. With respect …
A fight is underway over the EPA’s latest rule to force oil and gas companies to pay a federal fee if they emit dangerous methane above certain levels and U.S. Sen. Shelley Moore Capito (R-W.Va.) is one of those leading the battle. “The Biden administration is continuing its anti-consumer agenda by implementing the natural …
The latest Permian Basin acquisition reportedly involves a $1 billion agreement by Hilcorp Energy to buy conventional oil drilling assets in Texas and New Mexico. According to Reuters, Hilcorp is acquiring conventional vertical wells rather than horizontal ones. Hilcorp has a history of buying mature oilfields. The firm has most of its operations in …
After acquiring Pioneer Natural Resources Co. in a $63 billion deal this year, Exxon Mobil Corp. plans to lay off close to 400 Pioneer employees. A report by Bloomberg indicated the firm notified the Texas Workforce Commission on Wednesday of its intentions. Click here for Bloomberg
PHX Minerals recorded a slight drop in net income in the third quarter, slipping from $1.3 million and 4 cents a share in the second quarter to $1.1 million and 3 cents a share as the company also saw declines in production and converting wells in production. The Fort Worth-based company said earnings compared …
( REUTERS/Ramzi Boudina/File Photo) A small rebound was recorded Wednesday in crude oil prices after they fell nearly 5% this week, largely due to OPEC’s reduced demand forecast. The slight gains came after both benchmarks closed at their lowest levels in nearly two weeks on Monday and Tuesday. The slump was blamed on word …
November is Carbon Monoxide Awareness Month, and Oklahoma Natural Gas urges residents to refresh their knowledge on how to keep their homes and loved ones safe from this invisible threat. Understanding carbon monoxide Carbon monoxide (CO) is a dangerous gas produced when fuel does not burn completely. It can make you sick and, …
Where are the US and the rest of the world going when it comes to energy consumption? Here’s the latest predictions from the U.S. Energy Information Administration: Global oil consumption. India has emerged as the leading source of growth in global oil consumption in our forecast. Over 2024 and 2025, India accounts for 25% …
Coterra Energy expanded its grasp in the Permian Basin with a nearly $4 billion acquisition of assets of Franklin Mountain Energy and Avant Natural Resources. The company anticipates a nearly large increase in its 2025 oil production as a result. Tom Jorden, Chairman, CEO, and President of Coterra, noted, “These highly accretive acquisitions create …
