After OPEC lowered its outlook for the rest of this year and 2025 global oil demand, crude oil prices dropped 2% on Monday. At the same time, China’s oil imports slipped for the fifth consecutive month. West Texas Intermediate crude dropped $1.73 or 2.29% and settled at $73.83 a barrel on the New York Mercantile …
Category: Oil & Gas
Arkansas lithium companies get early court win in continuing battle with mineral rights owners
In an update from Arkansas Business, lithium companies in southern Arkansas have won part of their fight about royalties with mineral owners. But the fight is far from over. The publication reported that according to the Arkansas Democrat-Gazette, an administrative law judge indicated he will come down in support of the lithium companies …
Landowners object to Phillips 66 pipeline site in Oklahoma County
Phillips 66 is defending the route it chose to construct a pipeline through eastern Oklahoma County even as some landowners object to the project. The landowners near East Britton Road and North Midwest Blvd. contend the project will destroy their farmland. In a statement to Fox 25 News, Phillips 66 also explained that …
Will 3Q earnings for LSB Industries offset drop in 2Q?
After a drop in net sales in the second quarter of the year, LSB Industries’ third quarter results will be released publicly in about two weeks. The company set the release date for Tuesday, Oct. 29 after the close of the stock market. Company leaders will hold a conference call the following day, Wednesday, …
Helmerich and Payne set to release 4Q earnings report
Will Helmerich and Payne again improve on its quarterly financial report to be released in the next several weeks? It’s the question investors want answered as the Tulsa-based company prepapres to release its fourth quarter 2024 earnings report and hold a conference call on Thursday, Nov. 14. John Lindsay, President and CEO along with …
Dividend declared by Phillips 66
Some good news for investors of Phillips 66. The company declared a dividend for stock holders. The oil and gas company’s board of directors said the quarterly dividend amounted to $1.15 per share on Phillips 66 common stock. The dividend is payable on Dec. 2, 2024, to shareholders of record as of the close …
Energy briefs
** Nearly half-a-million Floridians were still without power Monday morning, days after Hurricane Milton barreled through the state, tearing a path of destruction that was most severe on the west-central coast. ** Electric vehicle startup Fisker received court approval of its bankruptcy liquidation plan on Friday, following last-minute negotiations to preserve the company’s $46 million sale …
More changes coming to former Chesapeake Energy campus in OKC
We’ve reported on the changes at what once was Chesapeake Energy in Oklahoma City. Remember the old name on the campus in the northside of the city? It’s been changed to the new name, Expand Energy. Other changes are coming. The Oklahoman reported the company recently filed a $20 million building permit for the …
US puts sanctions on trading of Iranian oil over missile attack on Israel
We will have to wait to see what this does to crude oil prices on Monday, but late Friday, the U.S. imposed sanctions on companies and ships that allegedly deal in trading and transporting Iranian oil. The sanctions, adopted after Iran’s recent missile attack on Israel, were implemented too late to affect Friday’s …
Crude oil prices finished the week with a drop
Crude oil prices finished down on Friday as a number of factors played a part in the slide. There of course was Hurricane Milton’s impact on fuel demand after the storm pounded Florida. Then, there is still what might happen in the Middle East where investors wonder whether Israel might attack Iran’s oil industry over …