Texas regulators are under growing pressure to take action to cut crude output in light of the historic price crash. Two of the state’s biggest drillers, Pioneer Natural Resources Co. and Parsley Energy Inc. want the Texas Railroad Commission to consider a decrease in crude output The two companies asked the three-member Texas Railroad …
A day after Oklahoma City’s Devon Energy slashed another $300 million from its 2020 capital expenditures budget, the company reported three sister wells in the STACK play with production of more than 2,500 barrels of oil a day. It sat on the completed wells since last fall and reports weren’t made until this week with …
The United States’ flagship crude oil grade plunged on Monday to trade at about $10 a barrel, the weakest since late 1998 as demand plummeted due to the coronavirus pandemic and storage filled quickly. The grade, priced at the heart of the Permian basin in Midland, Texas, traded at $9.50 below benchmark prices, reported …
The Petroleum Alliance of Oklahoma announced it supports U.S. Sen. Jim Inhofe’s call for a federal investigation into attempts to artificially lower crude oil prices to harm American businesses. Inhofe requested U.S. Commerce Secretary Wilbur Ross launch an investigation against the Kingdom of Saudi Arabia and the Russian Federation under Section 232 of the …
** Sens. Kevin Cramer (N.D.) and Dan Sullivan (Alaska) introduced legislation, S. 3572 (116), last week to remove U.S. armed forces from Saudi Arabia in a bid to pressure the nation to halt its price war with Russia. ** EPA said it would push a May 1 deadline for fuel terminals to stop selling winter-grade gasoline to retailers until May 20 …
Gasoline prices in Oklahoma City have dropped to 99 cents a gallon as oil prices remain in the low $20s and the coronavirus pandemic and resulting stay-at-home orders have left motorists off the highways and streets. It came as oil dropped to barely above the $20 a barrel level. The 99-cent a gallon for …
The latest numbers show Lea County, New Mexico is now the number one oil and gas producer in the U.S. Situated in the western part of the Permian Basin, the county overcame McKenzie County, North Dakota for the honor. “Lea County is now officially the No. 1 oil and gas producer in the U.S.,” …
Major oil companies including BP and Shell are preparing to take the rare step of storing jet fuel at sea as the coronavirus outbreak disrupts airline activity globally, while refiners are shifting to diesel because of the poor margins associated with jet fuel production. Jet fuel demand has cratered as airlines suspend flights due to …
Oklahoma City-based Enable Midstream Partners, LP announced that Enable Mississippi River Transmission, LLC received approval from the Federal Energy Regulatory Commission of its uncontested rate case settlements with customers. The settlements establish rates for services on the MRT system that provide a return on MRT’s historical investments, recovery of the pipeline’s ongoing operating costs and …
Tulsa’s Williams announced that The Williams Foundation has pledged $1 million to provide community support during what it calls “this unprecedented time of financial volatility and global health concern.” “Not only does the coronavirus pandemic continue to create disruption in our communities, but we are also closely monitoring the collapse in oil prices and the …