The number of rigs running in the U.S. increased by 24 in the last week to 562, as of July 21, according to Enverus Rig Analytics. The firm also stated that drilling has rebounded in the Anadarko Basin with an 8-rig increase to 48 while Oklahoma-based Devon Energy is one of the most active …
Category: Oil & Gas
Crude oil prices rebound with 4% climb
After slipping below $70 a barrel, crude oil prices on Wednesday saw a nearly 5% bounce back in the US and more than 4% overseas, even with the US EIA reporting an unexpected increase in US oil inventories. West Texas Intermediate crude rose 4.6% or $3.10 a barrel to finish the day at $70.30. …
Cushing crude oil storage falls to new levels
The amount of crude oil stored at the Cushing delivery hub in northern Oklahoma fell to its lowest level last week since January 2020. The U.S. Energy Information Administration reported storage at Cushing dropped by 1.4 million barrels even though crude inventories nationwide last week increased by 2.1 million barrels. The national increase broke …
Ovintiv plans more drilling in Oklahoma’s STACK
After a 3-well pad brought wells with combined production of more than 3,000 barrels a day in Oklahoma’s STACK, Ovintiv plans more exploration in Kingfisher County. Permits to drill issued this week show the company plans a 2-well pad four miles east of the city of Kingfisher at 17 16N 6W. The Church 1606 …
Chesapeake to release 2Q earnings report in early August
Chesapeake Energy Corporation announced that it will release its 2021 second quarter operational and financial results after market close on Tuesday, August 10, 2021. A conference call to discuss the results has been scheduled on Wednesday, August 11, 2021 at 9:00 am EDT. Following Chesapeake’s emergence from Chapter 11 restructuring proceedings, the company generated $409 million of operating cash flow …
NGL Energy Partners LP provides update on wastewater recycling
NGL Energy Partners LP announced Wednesday that the partnership has successfully completed the first of two large scale Delaware Basin wastewater recycling projects in Lea County, NM. The initial project, which began in late May, supported one of NGL customers’ highly efficient simultaneous fracturing, or “simul-frac”, completion activities. Utilizing its own produced water, the …
Incredulous, frustrated reactions are mounting over Biden’s blocking of Keystone XL
That’s the headline from a newspaper in Nebraska as its editors spoke out in complaint about Biden’s decision to kill the Keystone XL pipeline that would have shipped oil from Canada to Cushing in northern Oklahoma. The editorial came from the Norfolk Daily News which complains about the “wanton devastation of jobs.” Click here …
Prohibition of bans on natural gas spreads across U-S
Ever since Oklahoma and four other states enacted laws in 2020 to stop cities and municipalities from creating bans on natural gas use, the movement has evolved to at least 19 states total with such laws. As S&P Global reports, those laws now stretch across most of the southern U.S. and from the Rockies …
Texas Gov. Abbott given $1 million from Texas pipeline tycoon
After Kelcy Warren’s Energy Transfer Partners made billions from the deadly Texas blackouts in February, he gave $1 million to Texas Gov. Greg Abbott. The Texas Observer explored how the natural gas industry was able to reap billions from the actions of the governor. Click here for Texas Observer.
Energy news in brief
** Massive amounts of radioactive waste brought to the surface by oil and gas wells have overwhelmed the industry and the state and federal agencies that regulate it, according to a report released today by the prominent environmental group Natural Resources Defense Council. The waste poses “significant health threats,” including the increased risk of cancer to oil and …