Two Texas-based well completion companies, both with operations in Oklahoma are joining operations in a $407.5million deal. ProFrac Holdings, LLC reached agreement in the all-cash deal to take over FTS International, Inc, another firm headquartered in Fort Worth. ProFrac, based near Fort Worth listed operations in Oklahoma but as the picture above illustrates, the …
Crude oil prices rebounded on Friday with a more than 2% gain in the US and European levels reaching nearly $86 a barrel. West Texas Intermediate crude for December delivery went up $1.69 or 2.05% to finish the day’s trading at $84.19 on the New York Mercantile Exchange. Global benchmark Brent crude rose $1.28 or …
Schlumberger announced a third-quarter profit of $550 million on Friday, beating Wall Street estimates as the top oilfield firm capitalized on a rebound in crude prices worldwide. On a per-share basis, the The Hague, Netherlands-based company said it had profit of 39 cents. Earnings, adjusted for non-recurring gains, came to 36 cents per share. …
Dallas-based Holly Energy Partners, L.P. announced a quarterly dividend. The operator of crude oil terminals in Oklahoma and 7 other states announced a cash distribution of 35 cents per unit for the third quarter of 2021. The distribution will be paid on November 12, 2021 to unitholders of record on November 1, 2021. Holly Energy …
** Schlumberger followed its rivals in reporting disappointing third-quarter earnings results this week, as the world’s biggest oilfield contractor failed to grow as fast as analysts expected. ** As Democrats try to salvage what’s left of President Joe Biden’s climate policy, U.S. Sen. Joe Manchin signals that he’ll only sign on to wind and solar credits if …
With gas futures touching 12 year highs in recent weeks, more companies and land in the Haynesville formation of Northwest Louisiana and East Texas are coming up for sale. Reuters reports private equity firms are looking to make sales in the country’s second-largest natural gas producing formation. Click here for Reuters.
A stunning reversal. It’s the picture painted about the stockpile of crude oil at the Cushing oil hub in northern Oklahoma. As OK Energy Today reported, the Cushing hub held 31.2 million barrels as of Oct. 15, a 2.3% drop from the previous week. A year ago, Cushing had 60.4 million barrels in storage …
Crude prices took a hit in Thursday’s trading falling more than $1 a barrel both in the US and in Europe and they took Oklahoma energy stocks with them in the downward slide. West Texas Intermediate crude for December delivery dropped $1.37 to $82.50 a barrel in trading on the New York Mercantile Exchange. Global …
The U.S. rig count inched up by one in the last week to 639 as of Oct. 20, according to Enverus Rig Analytics. The count is up 4% over the last month and up 95% in the last year. The largest week-over-week changes occurred in the Gulf Coast, where four rigs were added. The …
** North Dakota can continue to pursue reimbursement from the federal government of the millions of dollars spent policing protests against the Dakota Access oil pipeline, a judge has ruled. U.S. District Court Judge Daniel Traynor on Tuesday denied the federal government’s motion to dismiss North Dakota’s attempt to recover more than $38 million from the monthslong …
