U.S. crude oil prices made a slight gain on Friday but prices still fell after a week of trading. Oklahoma energy stocks had a weak day in trading, just one day after recording some large gains. The decline for the week came on worries that an economic slowdown might weaken demand for crude oil. …
Baker Hughes reports national rig count slipped by one
Oklahoma was unchanged in its oil and gas rig count in the past week while nationally, Baker Hughes Co. reported a decline of one resulting in a nationwide count of 762. Oklahoma had 65 active rigs in the past week compared to a year ago when the count was only 30. Nationally, the number …
Federal Judge permanently blocks Biden leasing pause in lawsuit by Oklahoma and other states
A federal judge in Louisiana overruled a Circuit Court judge’s ruling made in the past several days putting the lawsuit by Oklahoma and nearly a dozen other states challenging Biden’s moratorium on new oil and gas leases back into play. Judge Terry Doughty of the Western District of Louisiana issued a permanent injunction against …
Oil and gas firms made a lot of money last year
A new report claims U.S. oil and gas companies generated nearly $74 billion in profits in 2021 while capital expenditure reached more than $144 billion. The report from EY titled “U.S. oil and gas reserves, production and ESG benchmarking study” according to Oilprice.com. Click here for Oilprice.com
OK energy stocks soared as crude prices rebounded Thursday
Thursday’s trading resulted in a 3% gain for crude oil prices after increased U.S. fuel consumption off worries about a slowing economy around the rest of the world. It proved to be a day of big gains for Oklahoma energy stocks. Increases came after a report was announced showing the number of Americans filing new …
Major jump in nation’s oil and gas rig numbers
While the latest Enverus rig count showed a nationwide increase of 15 oil and gas rigs, it also revealed two Oklahoma City-based companies were among the most active in the Appalachian Basin. Appalachia also notched a four-rig increase to 58 during the last week. Most active in the basin were Chesapeake Energy, EQT Corp. …
North Dakota Bakken production grew in June
North Dakota, the state where Oklahoma companies are among the leaders in oil and gas exploration reported its June oil production reached nearly 1.1 million barrels a day. But higher growth is being limited by workforce challenges and gas takeaway issues according to Lynn Helms, North Dakota Director of Mineral Resources reported the Williston …
Williams reaches deal to increase Appalachian Basin natural gas movement
Williams and PennEnergy Resources, LLC, an EnCap Investments portfolio company in the Appalachian Basin, announced they have entered into an agreement to support the marketing and delivery of certified, low emissions next gen natural gas. The agreement includes an independent, third-party certification process that verifies best practices are being followed to minimize emissions and produce …
Phillips 66 announces expansion of midstream holdings
Phillips 66 announced a realignment of its economic and governance interests in DCP Midstream, LP and Gray Oak Pipeline, LLC through the merger of existing joint ventures owned with Enbridge Inc.. Phillips 66 increased its economic interest in DCP Midstream from 28.26% to 43.31% and will oversee and manage the joint venture’s interest in …
U.S. natural gas exports to Mexico are increasing at the West Texas border
Natural gas pipeline exports from West Texas to Mexico averaged 1.6 billion cubic feet per day (Bcf/d) during May 2022—the most pipeline exports from West Texas on record, according to the U.S. Energy Information Administration’s most recent monthly data. Compared with 2021, U.S. pipeline exports from West Texas increased by 12% from January through May …
