The number of active North American rigs jumped this week, according to the Baker Hughes rig count released on Friday. The U.S. rig count rose by 5 to reach 511 active rigs after hitting a record low of 404 in May. Half a dozen land rigs were added while the inland waters lost one. Overall, …
September 25, 2016 archive
Oil Futures Drop on Friday as OPEC Informal Meeting in Algiers Takes Center Stage
Oil futures plunged sharply on Friday after a Saudi Arabian delegate reportedly said oil producers aren’t likely to make a decision on production levels at the Algiers meeting, according to Bloomberg MarketWatch. The informal meeting at the International Energy Forum in Algeria will only offer a chance for OPEC and other oil producers to consult …
Federal Grant of $1 Million to Help Rural Oklahoma Oil and Gas Industry
The U.S. Secretary of Commerce announced Tuesday that the Department’s Economic Development Administration is investing nearly $2 million in Oklahoma to support manufacturers and boost workforce training in the medical sector. A $1 million federal grant was received by the Oklahoma Center for the Advancement of Science and Technology (OCAST) to help with diversification and …
Williams Completes Sale of Canadian Assets for $1.06 Billion
Tulsa-based Williams Companies and Williams Partners announced Friday the completion of the sale of their Canadian businesses to Inter Pipeline Ltd. for combined cash proceeds of nearly $1.06 billion, or $1.38 billion in Canadian dollars, according to a report by The Tulsa World. The deal was initially announced in early August. The partnership and the …
H&P Settles 2014 Employee Negligence Lawsuit for $72 Million
In a U.S. Securities and Exchange Commission Form 8-K filing on Tuesday, Tulsa-based Helmerich & Payne disclosed that the company has settled a 2014 negligence lawsuit filed by a drilling rig employee for $72 million. Joshua Keel, an employee of Helmerich & Payne International Drilling Co., filed the lawsuit in the 152nd Judicial Court for …