Natural gas prices are down to a territory the industry hasn’t seen since 1995. Natural gas futures were down 7.2% in Thursday’s trading, dropping to a 25 year low at $1.48 per million British thermal units. The last time natural gas closed below $1.50 was in August 1995, when it settled at $1.47. The …
After two consecutive sessions of a drop in prices, crude oil on Thursday rose nearly 2% to settle at $38.72 a barrel on the New York Mercantile Exchange. West Texas Intermediate crude for August rose 71 cents for the session. Global benchmark Brent crude for August delivery was up $1.17 or 1.8% to …
While the Kansas City Federal Reserve Bank survey finds a slight increase in manufacturing in the district that includes Oklahoma, another survey finds oil and gas producers don’t expect any quick turnaround for the industry. The nation’s oil producers think it will take up to two years for oil output to recover in the …
Oklahoma state Treasurer Randy McDaniel’s monthly Oklahoma Economic Report has been released and in it, he discusses how the state’s oil and gas industry is “hit particularly hard.” He points out how when the price war between OPEC and Russia was initially triggered by a price war in February, West Texas Intermediate crude averaged $50.54 …
The Federal Reserve Bank of Kansas City released the June Manufacturing Survey this week. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity grew slightly after sharply decreasing for three straight months. Activity still remained well below year-ago levels, …
Continental Resources founder Harold Hamm added more than $57 million in shares in his own company this week. A filing made with the Securities Exchange Commission showed Hamm, who is now the company’s Executive Chairman, made the acquisitions on June 22, 23 and 24 of this year. He paid an average price of $16.62 …
For some of those utility customers who were allowed suspensions of their bills due to the COVID-19 pandemic, they now find themselves hit with a buildup of bills as utilities resume disconnects. In some cases, customers find they have to pay 2 to 3 months of unpaid bills or face total cutoff. Those customers …
A new study shows the Trump Administration’s Interior Department gave approval to nearly half as many wind and solar energy projects on federal lands as the Obama administration did at the same point in its first term. Reuters reported the numbers reflect the administration’s soft-pedaling of renewable energy development while favoring expansion of …
** Murphy Oil Corporation will host a conference call and webcast beginning at 9:00 a.m. Eastern Daylight Time (EDT) on Thursday, August 6, 2020 to discuss second quarter 2020 earnings. The company plans to release its financial and operating results before the market opens that morning. ** -Xcel Energy has elected a new board member, effective immediately. Charles …
Like a lot of other oil and gas producing states, North Dakota is struggling with plunging revenues from gross production taxes and how they have affected overall state revenues. North Dakota’s State Office of Management and Budget Director Joe Morrissette reported this week the tax revenues from oil production in the nation’s 2nd highest …