The decision by OPEC+ to remain with its current crude oil production policy prompted crude oil prices to jump in Monday’s trading as overseas prices hit $81 a barrel while in the US prices reached their highest mark since 2014. As a result, Oklahoma energy stocks had a strong Monday with at least one …
Category: Oil & Gas
Other energy stories in brief
** As crews rush to contain a 126,000-gallon oil spill from an offshore pipeline off the Southern California coast, questions arise over officials’ slow response to initial reports of the spill. ** The city of Port Arthur, Texas just added its 11th electric bus to its fleet. ** Federal regulators propose a $150,000 fine against Entergy for three violations …
New oil drilling in the STACK
More oil and gas exploration is coming in Oklahoma’s STACK play as shown by some recent drilling permits approved by state regulators. Continental Resources plans three more Blaine County wells including two on a single pad and a third nearby. The TRES C FIU #2-35-2XHM and the TRES C FEDERAL #3-35-2XHM wells will be located at 35 15N 13W, …
It’s now Cotera Energy
Cimarex Energy Co., the firm with a heavy commitment to oil and gas exploration in Oklahoma’s Mid-Continent play has officially joined operations with Cabot Oil & Gas Corp., forming a new company with a new name—Cotera Energy. The more than $17 billion deal was an all-stock merger. The new operation will cover more than …
Dallas radio show host accused in oil scheme
The Securities and Exchange Commission is targeting a Dallas licensed petroleum engineer for using his KRLD radio show to attract investors into a fraudulent oil and gas investment opportunity. The SEC filed a complaint against Mark Plummer who aired the “Smart Oil and Gas” show on the radio station and asked callers to phone for …
Federal probe to reveal if price gouging happened in February winter storm
A U.S. Senator from Kansas says he’s been told by federal energy regulators that results of an investigation into price gouging during the February winter storm Uri will be coming soon. It’s what Sen. Roger Marshall, R-Kansas said in a recent interview reported the Topeka Capital Journal. The Federal Energy Regulatory Commission launched an …
Former Interior Secretary wants protective zone around Chaco ruins
A call is being made to put a 10-mile no energy-leasing zone around the Chaco Culture National Historical Park in northwestern New Mexico. The call comes from Bruce Babbitt, the former Secretary of the Interior Department. In an opinion piece in Writers on the Range, Babbitt said “a surge of oil and gas development threatens …
Ranken boasts of reduced drilling costs
Edmond-based Ranken Energy Corporation says it has managed to cut drilling costs thanks to its work with Dan D Drilling, another Oklahoma-based energy company. Through a relationship with drilling contractor Dan D Drilling, Ranken stated it has successfully cut expenditure costs, primarily via minimizing days on the well and reducing the well site footprint afforded …
Oil prices up ahead of OPEC+ meeting
Anxious to see whether OPEC ministers will keep a steady pace in raising oil supplies, investors didn’t back away from putting their money in crude oil futures on Friday. They also liked what they saw in Oklahoma energy stocks as oil finished just short of a three-year high. West Texas Intermediate crude for November delivery …
Nine Energy sets to release 3Q earnings report
Houston’s Nine Energy Service, Inc., the company with significant completion operations in Oklahoma plans to release its third quarter 2021 earnings report in early November. The company will release the report on Thursday, Nov. 4 followed by a 9 a.m. conference call where leadership will discuss the results. Nine Energy had second quarter revenues …