A water vapor leak early Sunday morning resulted in the evacuation of a Chickasha oil rig operated by Continental Resources of Oklahoma City. At last report, there were no injuries according to the Grady County Sheriff’s office and Grady County Emergency Management office. The evacuation happened around 5 a.m. Residents of a nearby mobile …
Operators of a pipeline carrying crude oil from Cushing to Illinois have announced an expansion of their 433-mile line. MPLX LP subsidiaries MPLX Ozark Pipe Line LLC and Marathon Pipe Line LLC announced the start of the open season for two lines, the Ozark 22-inch and the Woodpat 22-inch line. The open season will continue …
WildHorse Resource Development Corporation (NYSE:WRD) announced today that it has been selected for a Department of Energy study alongside the Texas A&M Engineering Experiment Station (TEES) to develop a new field laboratory in the Eagle Ford formation. The team, which has been awarded an $8 million grant from the Department of Energy (DOE) for research …
NuStar Energy L.P. based in San Antonio announced the start of its Binding Open Season involving an expansion of its NuStar Permian Transportation and Storage LLC’s Permian Crude System. The expansion will provide more transportation capacity capable of reaching several downstream markets through interconnects at Colorado City, Texas. Ring Energy, based in Midland, Texas …
The Colorado Oil and Gas Conservation Commission is considering new rules for thousands of oil and gas pipelines following last year’s fatal explosion in a newly developed neighborhood addition in the town of Firestone. Investigators said the explosion was caused by odorless, unrefined gas leaking from a severed flow line. Colorado regulators met on Monday …
Corporate raider and activist investor Carl Icahn is at it again. In an open letter to Oklahoma City-based SandRidge Energy, Icahn is seeking the ability to appoint a member on the oil and gas company’s board of directors, according to a news report by The Oklahoman. Icahn spent over $82 million in October and November …
Crude oil futures continued to rally on Tuesday as favorable forecasts extended gains and drove prices to a three-year high, according to Bloomberg MarketWatch. February West Texas Intermediate crude jumped $1.23, or 2%, to settle at $62.96 a barrel on the New York Mercantile Exchange, marking its highest finish since December of 2014. March Brent crude, …
Oil prices finished higher on Monday, adding to last week’s rally as traders welcomed data showing a weekly decline in the number of U.S. drilling rigs. February West Texas Intermediate crude rose 29 cents, or 0.5%, to settle at $61.73 a barrel on the New York Mercantile Exchange. March Brent crude, the global benchmark, added 16 cents, …
Tulsa-based SemGroup Corporation will sell its asphalt business, SemMaterials México, to Ergon Asfaltos México HC, LLC, for an estimated $70 million including a reimbursement of nearly $15 million of net working capital, according to a company press release issued on Monday. SemGroup intends to use proceeds from the sale toward its capital raise plan associated …
Dallas-based EnLink Midstream companies recently announced several changes in executive leadership management, according to a company press release issued on Wednesday. EnLink’s Boards of Directors appointed Barry E. Davis to Executive Chairman, Michael J. Garberding to President and Chief Executive Officer, and Eric D. Batchelder to Executive Vice President and Chief Financial Officer. These transitions resulted from the company’s succession process, …
