Category Archive: Oil & Gas

Crude Oil Futures Drop as Natural Gas Futures Posts Slight Increase on Friday

Crude oil futures ended lower Friday, as investors booked a profit after a day after a surprise reading on U.S. stockpiles helped lift the domestic crude benchmark to its highest close in more than a year and a half.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in April fell …

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Seventy Seven Energy Moves Closer to Merger

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Oklahoma City-based Seventy Seven Energy Inc., the spinoff company from Chesapeake Energy is moving closer to its announced merger with Patterson-UTI Energy Inc, of Houston.

The company said it has established a record date for the special meeting of its stockholders to consider and vote upon the merger. The merger was announced in …

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Oklahoma’s Rig Count Remains at 101 while National Count is up

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While Oklahoma’s rig count in the past week remained steady at 101, the national count increased by three, according to figures released by Baker Hughes Company of Houston.

The national count is up to 754 and includes an increase of 5 more oil rigs to bring the oil rig county to 602 and …

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Wagoner County Natural Gas Explosion Leaves Four Hospitalized

At least four injuries – three in critical condition — were reported when a Wagoner County natural gas well exploded on Thursday afternoon.

The incident occurred near 720 Road and County Road 220, about a mile north of Highway 51 as a …

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Crude Oil Futures Continue to Surge Thursday Based on Favorable Inventory Data

Posting its highest close since July of 2015, the WTI and Brent crude posted gains on Thursday as they were buoyed by a smaller-than-expected rise in inventories, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, West Texas Intermediate futures climbed 86 cents, or 1.6%, to settle at $54.45 a barrel.

On …

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SandRidge Prepares for Exploration Expansion After $334 million 4th quarter loss

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Fresh out of bankruptcy and shedding $3.7 billion in debt, Oklahoma City-based SandRidge Energy still faces a significant challenge. Its fourth-quarter earnings report showed a net loss of $334 million which translates into a loss of $17.61 a share.

In the fourth quarter of 2015, the company suffered losses of $665 million …

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Dakota Access Protesters Arrested, Set Fire to Camp as Deadline Passes for Evacuation

Nearly a dozen activists were arrested at the Dakota Access Pipeline encampment following Wednesday afternoon’s evacuation deadline. About 150 people left the camp voluntarily prior to the deadline, according to news reports. Law enforcement authorities estimate that less than 100 tribal protesters remain at the base camp located on the edge of the Standing …

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Crude Oil Futures Plummet on Wednesday

Crude oil prices dipped on Wednesday, finishing lower as concerns grew about the potential rise of production outside the OPEC agreement, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, April West Texas Intermediate crude oil dropped 74 cents, or 1.4%, to settle at $53.59 a barrel.

On the London ICE Futures …

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Teens Appeal Colorado Court Ruling on Oil and Gas Drilling

The Colorado Court of Appeals heard arguments this week from six teenagers who have filed suit to restrict oil and gas development in the state.

Attorneys for the youths claimed the Colorado Oil and Gas Conservation Commission’s practice of weighing economic benefit against health and environmental impacts of drilling is a violation of state law.

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Crude Oil Futures Jump on Tuesday as Investors Favor OPEC Compliance With Production Curb

Crude oil futures climbed higher on Tuesday as investors bid up futures contracts on the heels of growing optimism about compliance with OPEC’s global pact to curb production, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, April West Texas Intermediate gained 55 cents, or 1%, to settle at 54.33 a barrel while …

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