Oklahoma City’s Gulfport Energy Corporation revealed it repurchased nearly $25 million in its shares from Silver Point Capital, L.P. In a SEC filing, the company explained Silver Point Capital agreed to sell 170,000 shares of the company’s common stock at a price of $146.25 per share. It represented an approximate 2% discount to the last …
Category: Oil & Gas
Federal BSEE monitoring offshore oil & gas operations as storm arrives
The US Bureau of Safety and Environmental Enforcement estimates that just over 16 percent of oil production in the Gulf of Mexico and 11 percent of natural gas production in the region has been shut-in. The Tulsa-based Oil and Gas Journal reports that as those actions were being taken, the National Hurricane Center was warning …
Oil prices tumble amid “lingering concerns” about demand
Oil prices plunged lower Wednesday amid a leadership change at Libyan Central Bank. Experts say that could be a factor in the eventual return of some of the country’s recently shut down oil production. West Texas Intermediate crude dropped 2.6% to settle at $69.69 a barrel Wednesday. Brent crude for November settlement dropped 2.3% to …
Report shows U.S. is the world’s largest gasoline exporter
Data source: U.S. Energy Information Administration, International Energy Agency, and Facts Global Energy The United States is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components), supplying over 16% of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day (b/d), equivalent to about 10% of domestic consumption and enough …
Mach Natural Resources announces purchase of more of its shares
Mach Natural Resources LP of Oklahoma City announced this week the underwriters of its previously announced public offering of more than 7 million shares partially exercised their option to buy more of the shares. The original offering was of 7,272,728 common units representing limited partner interests in Mach. But the underwriters exercised their …
ONEOK wraps up offering of nearly $7 billion in notes
ONEOK, Inc. announced it has completed its previously announced underwritten public offering of $1.25 billion in different notes. The offering included the $1.25 billion of 4.250% notes due 2027, another $600 million in 4.400% notes due 2029, $1.25 billion in 4.750% notes due 2031, $1.60 billion of 5.050% notes due 2023, $1.50 billion …
Sen. Barrasso accuses Biden-Harris administration of waging a war on Wyoming’s oil and gas
Wyoming U.S. Sen. John Barrasso accused the Biden-Harris administration of “waging war on Wyoming” through its newest oil and natural gas lease sale in his home state. The Republican Senator said the Department of Interior is offering a record low number of acres for lease at the sale. Barrasso is the ranking member of …
California sues, alleges top plastic maker has lied about recycling
The state of California has filed a lawsuit accusing the nation’s top plastic maker of lying about the value of recycling. E&E News reports Attorney General Rob Bonta filed his complaint against Exxon Monday in the San Francisco County Superior Court. Bonta accuses Exxon of lying for decades about the feasibility of recycling plastics. Less …
Chinese plan to boost its economy helps oil prices advance
News from the Peoples Bank of China that a package of measures are aimed at boosting the country’s economy helped oil prices advance Monday. West Texas Intermediate crude increased by 1.7% to settle at $71.56 a barrel. Brent crude for November also added 1.7% to settle at $75.17 a barrel. The price moves were supported …
Texas AG goes to court over lizard and government decision to protect it
For a little guy, the dunes sagebrush lizard has stirred up a big fight in west Texas. State Attorney General Ken Paxton just filed a federal lawsuit against the Biden-Harris administration for declaring the lizard an endangered species. He contended in the suit that the action by the U.S. Fish and Wildlife Service was …