Tulsa’s Williams gets the contract with Shell and Chevron to transport natural gas and crude oil from the Gulf of Mexico Whale development. The company announced it reached the agreement with Shell Offshore Inc. and Chevron U.S.A. Inc. to provide the offshore services as well as onshore natural gas processing services for the Whale …
For a third consecutive day this week, crude oil prices fell on Wednesday’s trading as analysts blamed the drop on growing worries about the spread of the coronavirus Delta variant. Energy stocks in Oklahoma did the same with some dropping as much as nearly 11%. West Texas Intermediate crude suffered a 3.4% drop as prices …
For the eighth straight week, crude oil stocks dropped at the Cushing oil delivery hub while nationwide crude stockpiles rose according to the U.S. Energy Information Administration. In an announcement Wednesday, the EIA said the Cushing hub storage dropped by 543,000 barrels, falling to 34.9 million barrels, the lowest point since January 2020. Nationally, …
The number of drilling permits issued this week by the Oklahoma Corporation Commission shows no slowdown in exploration. Travis Peak Resources LLC of Houston received permits for two wells on a single pad in Canadian County. The ELMENHORST 1-12-11N-7W #2MHX, along with the ELMENHORST 1-12-11N-7W #3MHX . The wells will be drilled at a site …
Tulsa’s Alliance Resource Partners, L.P. , the second largest coal producer in the Eastern United States announced Wednesday the retirement of Charles R. Wesley as Executive Vice President and Director of ARLP’s general partner. His retirement was effective the end of July after he joined the company in 1974 to work for Webster County …
** The Energy Information Administration reported an inventory build of 3.6 million barrels of crude oil for the week to July 30. This compared with analyst expectations of a 2.9-million-barrel draw. For the previous week, the EIA had estimated an inventory draw of 4.1 million barrels. ** The Department of Energy issued a proposal on Tuesday to repeal a Trump administration rule creating a new …
High feedstock prices have interrupted plans by CVR Refinery in Wynnewood to begin production of a proposed 7,000 barrels a day of renewable diesel. Carl Icahn’s company made the announcement this week blaming the high price of feedstock caused by several other U.S. refineries joining in the same kind of operation to produce more …
Enable Midstream Partners, LP announced financial and operating results for second quarter 2021 showing increased income and a continuing quarterly cash distribution for shareholders. The Oklahoma City company said net income attributable to limited partners was $87 million for second quarter 2021, an increase of $43 million compared to $44 million of net income …
Energy Transfer’s new intrastate pipeline that transports crude from the Denver-Julesburg Basin in Colorado and the Cushing hub in Oklahoma to a Texas terminal is credited with helping increase the firm’s quarterly net income. The Cushing to Nederland expansion project was activated in June and uses a crude oil pipeline that previously serviced the …
An examination of Chesapeake Energy and its slow recovery after emerging from bankruptcy earlier in the year points to executive departures and changes in the direction of the Oklahoma City company. Reuters reported this week that the company’s recovery is slower compared to other firms that endured the same kind of bankruptcy. “Investor confidence …
