The number of DUCS, drilled uncompleted wells in Oklahoma and other oil-producing states is shrinking according to a report by Bloomberg. The new group said the number of the DUCs is expected to decline to less than 5,000 by the final three months of 2021. That’s a drop of nearly 2,000 wells compared to …
In the Biden administration’s latest move against the oil and gas industry, it has launched a review to weigh the value of the federal drilling program to taxpayers against the environmental costs. It’s part of President Biden’s free of new drilling lease auctions, an action he took in the first days of his presidency …
Crude oil prices had more bumps this week than a washboard road in western Oklahoma. Prices on Thursday lost most of the gains they made on Wednesday, falling below the $60 mark. Western Texas Intermediate crude for May deliver dropped $2.26 to $58.56 a barrel in trading on the New York Mercantile Exchange. Global …
The US rig count rose by eight in the last week to 486 as of March 24, according to Enverus Rig Analytics. The count is up 8% in the last month but still down 38% YOY. The month-over-month increase of 36 rigs included 31 added in Texas, where 238 rigs are now running, 49% …
Oklahoma City’s Chesapeake Energy has shown increased drilling interest in Oklahoma as the COVID-19 pandemic loosens its grip on the nation resulting in growing demand for gasoline and other fuels. The company has received at least 12 drilling permits for the month of March. The latest two were in Custer County where the firm …
Oklahoma Attorney General Mike Hunter joined the lawsuit filed by more than a dozen states to blunt the Biden administration’s continued attack on the oil and gas industry. According to the lawsuit filed in federal court in the Western District of Louisiana, the president’s recent executive order that placed a moratorium on all oil and …
The operators of the Wynnewood refinery in Oklahoma now face an even stiffer challenge in their U.S. Supreme Court Renewable Fuel Standard fight over exemptions from mandated biofuels production. The Biden administration and a coalition of biofuels groups filed response briefs on Wednesday in the Supreme Court and backed the ruling by the U.S. …
** Detroit-based Hercules Electric Vehicles is opening a $20 million Series A investment round to support product development, add employees, and scout for locations for facilities to produce components such as solid-state batteries. It is developing an electric sport pickup truck expected to be available late next year. ** Construction is expected to begin soon on a $5 million soybean …
Oklahoma-based Chesapeake Energy is facing a nearly $2 million fine in Pennsylvania by federal and state regulators who claim the firm damaged dozens of wetlands and streams at its gas drilling sites in the state. State Impact Pennsylvania reported a federal complaint filed in Williamsport alleged that Chesapeake caused the environmental damage at 76 …
The Petroleum Storage Tank Division’s portion of the Oklahoma Corporation Commission’s website will be unavailable Thursday, Mar. 25, 2021 from 4:30 p.m. to 6:30 p.m. CST. This will allow the state agency that manages our Information Technology services to make necessary maintenance updates. During this time, all applications associated with Petroleum Storage Tank Division on the OCC …
