Crude oil prices managed a big jump in Tuesday’s trading as they settled higher than $72 a barrel in the US and nearly $74 a barrel overseas and reached their highest prices since October 2018. West Texas Intermediate crude for July delivery rose $1.24 to finish the day at $72.12 a barrel. Global benchmark …
Category: Oil & Gas
Ascent Resources and Cheniere Energy collaborate
Oklahoma City’s Ascent Resources Utica LLC is one of a handful of companies collaborating with Cheniere Energy, Inc. in a project to improve greenhouse gas emissions performance at natural gas production sites. Cheniere is considered the largest producer of liquefied natural gas in the U.S. and announced its collaboration with five natural gas producers …
Devon and Ovintiv try more STACK exploration
Devon Energy is trying more STACK exploration in Oklahoma as the firm received drilling permits this week for five wells on a single pad in Canadian County. The OTTO 31_30_19-15N-9W wells will be located on a site at 06 14N 9W which is about 8 miles north of Calumet. Ovintiv Mid-Continent Inc. also plans some …
Key Energy reports jump in oilfield service business
Key Energy reported Tuesday that despite the impacts of the winter storm Uri, its first quarter 2021 consolidated revenue increased nearly 11% over the fourth quarter of 2020. The Houston company, with operations throughout Oklahoma said its first quarter revenue increased $5.2 million and reached $52.4 million compared to the $47.2 million in revenue reported …
Market update to come from ConocoPhillips
ConocoPhillips announced Tuesday it will host a virtual market update on Wednesday, June 30 beginning at 9:00 a.m. Central time. The meeting will feature presentations by ConocoPhillips executives, including Chairman and Chief Executive Officer Ryan Lance. A live webcast of the meeting will be made available on the ConocoPhillips Investor Relations website, www.conocophillips.com/investor. The event …
Major saltwater spill hits farmer’s wheatfield
A farmer’s wheatfield in far western North Dakota was hit with an 1,800 barrel saltwater spill in recent days. The spill involved 75,600 gallons of fluid according to Goodnight Midstream. The Bismarck Tribune says the land is likely to be permanently lost to farming because of the saltwater. Click here for Bismarck Tribune.
Energy news in brief
** Flames engulfed a chemical plant in Northern Illinois on Monday, forcing the evacuation of neighbors, sending massive plumes of smoke into the sky and threatening an “environmental nightmare,” authorities said. ** The Supreme Court deals a blow to the oil industry by refusing to hear a climate case pitting California cities against fossil fuel companies. ** The future of Ohio’s …
Fossil fuel industry pushes to loosen safety rules in Louisiana
Efforts are growing in Louisiana by oil and gas companies to urge state authorities to ease reporting requirements for pipeline leaks. A recent review of fines and penalties levied by state police, the agency that oversees pipeline safety in Louisiana showed at the same time there was lax enforcement existing in the state. Click …
Crude oil prices were unsteady on Monday but still above $70
US crude oil prices were shaky in Monday’s trading while overseas prices showed more confidence with a slight increase. West Texas Intermediate crude for July delivery slipped 3 cents and settled at $70.88 a barrel. Global benchmark Brent crude for August delivery finished up 17 cents at $72.86 a barrel on ICE Futures Europe. …
Funding improves for Arkansas brine operation
With a flagship operation in southern Arkansas where it hopes to develop brine into lithium batteries for electric vehicles, Canadian-based Standard Lithium Ltd. announced Monday a significant funding move. The company said the LANXESS Corporation chose for the early conversion in full of its loan facility previously advanced to the company. The conversion will …