Oil prices dropped Tuesday to finish at their lowest level in more than a week after the International Energy Agency cut its global crude demand forecasts and warned of a boom in U.S. shale oil production, according to Bloomberg MarketWatch. December West Texas Intermediate crude fell $1.06, or 1.9%, to settle at $55.70 a barrel on …
Category: Oil & Gas
Brent Crude Falls, WTI Shows Slight Gain on Monday’s Settlement
Crude oil prices produced mixed results on Monday after OPEC reported a fall in October output while a U.S. government report showed expectations for a monthly rise in domestic shale oil production, according to Bloomberg MarketWatch. December West Texas Intermediate crude, the U.S. benchmark, rose 2 cents, or less than 0.1%, to settle at $56.76 …
Chesapeake Presenting in London
Oklahoma City’s Chesapeake Energy is reaching out worldwide for investors. It will be among those firms presenting this week at the Goldman Sachs Global Natural Resources Conference in London. The presentation will be Wednesday, Nov. 15
Rig Count Data Reveals 6 New Oklahoma Rigs, 9 Added to U.S.
Both Oklahoma and North America saw big jumps in rig counts in the past week according to figures released by Baker Hughes. Oklahoma’s count jumped by six to reach 123. A year ago, the state had only 75 working oil and gas rigs. Nationally, the count grew by nine, reaching 907 active rigs. The U.S. …
WTI and Brent Crude Stumble on Friday, Advance for the Week
After several days of strong gains, crude oil futures settled lower on Friday, according to Bloomberg MarketWatch. On Friday, January Brent crude, the global oil benchmark, fell 41 cents, or 0.6%, to end at $63.52 a barrel on the London ICE futures Exchange. For the week, the contract saw a 2% rise. On the New York …
Uncertainty in the Middle East Drives Up Crude Oil Settlements on Thursday
Oil prices switched gears on Thursday, marching upward as tensions mount in the Middle East, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, December West Texas Intermediate rose 36 cents, or 0.6%, to settle at $57.17 a barrel. January Brent crude, the global benchmark, rose 44 cents, or 0.7%, to end trading at …
Noble Energy Unloading 30,000 Acres in Colorado
Houston’s Noble Energy is making a deal to sell $608 million in thousands of acres in Colorado’s DJ Basin. More than 30,000 acres in Weld County are being unloaded as the company said it had not planned development there for several years. It’s also an area where Noble pumps only about 4,100 barrels of oil …
ConocoPhillips Ready for Increased Volatility in Middle East
Speaking this week on CNBC’s “Power Lunch”, ConocoPhillips CEO Ryan Lance said his company is getting ready should there be a Saudi shake-up resulting in a volatile oil market. “We can sustain our production, pay our dividend, below $40 a barrel. That’s part of the transformation that we’ve been through,” he told the program. He …
Dividend Reported by Tulsa’s WPX Energy
WPX Energy in Tulsa is reporting a quarterly dividend of 78 cents a share. The board of directors approved the dividend for holders of the company’s 6.25 percent Series A Mandatory Convertible Preferred Stick. It’ll be payable Jan. 31, 2018 to holders of record on Jan. 12, 2018. The company posted double-digit oil volume growth …
Volatile Trading on Wednesday Results in Lower Crude Oil Settlements
Oil futures ended lower in volatile trading on Wednesday after a weekly U.S. government report revealed a surprise rise in crude stockpiles, according to Bloomberg MarketWatch. December West Texas Intermediate crude fell 39 cents, or 0.7%, to settle at $56.81 a barrel on the New York Mercantile Exchange. January Brent crude, the global benchmark, lost 20 …
