The uncertainty following the collapse of OPEC+ talks left crude oil prices taking yet another slide on Thursday. It was the third consecutive day of losses for the industry and Oklahoma energy stocks felt the pain. U.S. West Texas crude for August delivery fell 33 cents or 0.5% to settle at $71.87 a barrel. …
Category: Oil & Gas
North Dakota joins Oklahoma in lawsuit against Biden administration
The state of North Dakota filed suit Thursday against the Biden administration for its cancellation of a planned auction of oil and gas leases. The suit was similar to one filed by Oklahoma and a dozen other states which resulted in a Louisiana federal judge blocking the suspension of the sales. Click here for …
ONEOK to release 2Q earnings report
After reporting higher first quarter earnings compared to a year earlier, ONEOK, Inc. will release second quarter 2021 earnings after the market closes on Aug. 3, 2021. The company announced that its executive management will take part in a conference call on the following day at 10 a.m. Central Daylight Time. First quarter earnings …
Enverus reports drop in numbers of active rigs in US
A new weekly report shows Oklahoma City-based Devon Energy is one of the most active drillers in the Permian Basin of West Texas and Southeast New Mexico. Enverus Rig Analyltics, based in Austin, Texas reported the active U.S. rig count fell by seven rigs over the past week to 536 as of July 7. …
Refinery closures decreased U.S. refinery capacity during 2020
The U.S. Energy Information Administration reported this week that as a result of several U.S. refinery closures in 2020, the nation’s refinery capacity dropped 4.5%. In an announcement, the EIA stated the primary measure of refinery capacity fell to a total of 18.1 million barrels a day at the start of 2021. The end-of-year …
Energy news in brief
** Liberty Oilfield Services Inc. has successfully completed the rigorous field testing of Liberty’s digiFrac electric pump, the company announced Wednesday. DigiFrac is the industry’s first purpose-built fully integrated electric frac pump with high power density and significantly lower emissions relative to the best next generation frac technology available in the market. ** Federal data show wind …
Cushing’s crude oil supplies reverse and increase
Days after reports indicated there was a drop in supplies of crude oil at the Cushing hub, the American Petroleum Institute said Wednesday they had increased. The API reported U.S. inventories of crude oil fell 7.98 million barrels over the past week but supplies at Cushing were up 152,000 barrels. Gasoline inventories were …
Renewed enforcement power helps New Mexico oil agency
Ever since it regained enforcement power in 2020, New Mexico’s Oil Conservation Division has been in a race to issue citations and plug abandoned oil and gas wells in the state. According to the Santa Fe New Mexican, the agency also handed out its first fines in more than a decade. Click here for …
Devon won’t target all of its energy emissions
Oklahoma City-based Devon Energy might be okay with emissions reductions on what are called Scopes 1 and 2 operations by 2030, but a company executive says it won’t extend the efforts to assets it does not own in its chain of energy facilities. Devon’s chief operating officer Clay Gaspar told Argus it intends to phase …
Oil prices slip again over OPEC+ indecision
Oil prices took another hit on Wednesday and fell more than $1 a barrel as investors continued being nervous over the breakdown of discussions between major oil producers Saudi Arabia and United Arab Emirates. Oklahoma energy stocks largely followed suit. The collapse in OPEC+ talks might mean crude supplies could build again at the …