Leadership Addition Strengthens Governance Devon Energy Corp., headquartered in Oklahoma City, announced that Brent J. Smolik has joined its Board of Directors effective October 1, 2025. Smolik, 64, brings more than four decades of experience in the oil and gas industry, having held leadership positions at some of the sector’s most recognized companies. Clay Gaspar, …
Oil prices on Thursday continued their decline as they dropped about 2% to settle at their lowest close in fourth months. It was the fourth consecutive day for losses and the reason continued to be concerns of investors about oversupply in the market as OPEC+ nations meet this week to consider more output …
Kansas City Fed Study Links Biofuel Policy to Farm Demand The Kansas City Federal Reserve Bank released a new report showing how upcoming biofuel policy changes will determine future demand for U.S. corn and soybean production. Exports, the study says, will not rise enough to absorb projected crop surpluses. Instead, policy will play …
Pipeline Debate Heats Up in New York The Williams Companies‘ proposed Northeast Supply Enhancement (NESE) pipeline continues to stir political and environmental battles in New York and across the Northeast. The Tulsa-based company has been pushing for years to expand natural gas supply into New York City and Long Island. But environmental groups are warning …
Court Decision Impacts Oil and Gas Rights in Hughes County The Oklahoma Court of Civil Appeals has ruled against the Reid Family Management LLC in a dispute over oil and gas rights to a well in Hughes County. At the center of the case was the Darks #1-27 Well, operated by Southern Resources. …
Texas Expands Natural Gas Development with New Loan Agreement Texas reached its third Texas Energy Fund loan agreement to boost natural gas development. NRG Energy, Inc. signed the agreement with the state to build a 721 MW natural gas power plant at its Cedar Bayou Generating Station in Chambers County outside Houston. This new plant …
Natural Gas Plants to Meet Permian Basin Power Demand The Permian Basin will soon gain two natural gas power plants as Texas braces for rising energy demand. Vistra announced this week that it plans to invest $950 million to build two facilities with a combined capacity of 860 megawatts. That output will provide enough electricity …
Crude oil prices dropped Wednesday to a 16-week low following the U.S. government shutdown. While the shutdown affected some trading, traders also had more worries about the planned output increase next month by OPEC+ members. Brent crude dropped 68 cents or 1.0% to close at $65.35 a barrel while West Texas Intermediate crude …
Crude oil stocks grew across the U.S. in the past week while the amount of oil in storage at Oklahoma’s Cushing Hub fell 200,000 barrels. The latest report from the U.S. Energy Information Administration indicated the Cushing Hub’s total crude oil in storage went from 23.7 million barrels the week of September 19 …
Tulsa’s Unit Corporation announced Wednesday its sale of its drilling subsidiary in a $120 million agreement with Cactus Drilling Company, L.L.C. It was an all-cash deal to selling Unit Drilling Company and approved by Unit’s board of directors. “Divesting our contract drilling business allows us to sharpen our strategic focus on our upstream …
