Category Archive: Oil & Gas

Rebalancing of Oil Prices is at Hand

For the first time in four months, U.S. oil prices rose about the $51 mark on Monday and analysts say it’s a time the oil market is finally rebalancing.

The rebalancing is largely due to the Organization of the Petroleum Exporting Countries cutting production. Since the start of 2017, Russia and other producers have …

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Rig Count: Oklahoma Slips by 3, U.S. Down by 1

The latest weekly oil and gas rig count yielded some surprises along with declines for Oklahoma and the nation, according to Houston-based Baker Hughes Company.

The nation’s rig count dropped by one to reach 935, down from a year ago when it had 511 working rigs. Oklahoma’s count fell by three in the past …

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WTI and Brent Crude Continue to Show Growth on Friday

Crude oil futures ended slightly higher on Friday, as producers at an OPEC meeting revealed record compliance with their production curb agreement, according to Bloomberg MarketWatch.

November West Texas Intermediate crude rose 11 cents, or 0.2%, to settle at $50.66 a barrel on the New York Mercantile Exchange. For the week, the November contract gained …

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Tall Oak Midstream III Will Build Natural Gas Gathering System in Oklahoma’s East STACK

Oklahoma City-based Tall Oak Midstream III, LLC will construct a natural gas gathering system in southeast Oklahoma’s East STACK play, according to a company press release issued on Thursday. The system is expected to come into service before the end of 2017.

Producers working in the East STACK are developing multiple stacked pay zones, …

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WTI Remains Above $50 a Barrel on Thursday Despite Some Settlement Erosion

Domestic crude oil prices fell slightly lower on Thursday but managed to settle above $50 a barrel as traders anticipated OPEC’s continuation of the production agreement to remain in place, according to Bloomberg MarketWatch.

November West Texas Intermediate crude dropped 14 cents, or 0.3%, to settle at $50.55 a barrel on the New York Mercantile …

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WTI and Brent Crude Settle Above $50 a Barrel on Wednesday

West Texas Intermediate finished above the elusive $50 a barrel benchmark on Wednesday as oil prices were buoyed by a return to business following several weather-related disruptions, according to Bloomberg MarketWatch.

October West Texas Intermediate crude, which expired at the day’s settlement, rose 93 cents, or 1.9%, to settle at $50.41 a barrel on the …

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Oil and Natural Gas Futures Settle Lower on Tuesday

Crude oil futures fell short on Tuesday as traders looked to upcoming weekly data on domestic crude inventories and weighed prospects for an extension on OPEC’s production cut agreement, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, October West Texas Intermediate crude dropped by 43 cents, or 0.9%, to settle at $49.48 …

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Lower Oil Growth Forecast by Government

The U.S. Energy Information Administration is out with a new projection of crude oil output from shale oil and gas-producing regions, expecting growth by 79,000 barrels a day for October. The EIA said it’s the first time in seven months that its growth forecast was below 100,000 barrels a day.

Total production for October …

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Natural Gas Jumps as WTI Inches Closer to $50 on Monday

Domestic crude oil prices settled flat but slightly higher on Monday after posting a 5% gain last week, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, October West Texas Intermediate crude tacked on 2 cents, or less than 0.5%, to settle at $49.91 a barrel. The October contract expires at Wednesday’s settlement.

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North Dakota’s Two-Year Oil Production Decline Tapering Off

In recent days we’ve heard how Continental Resources founder Harold Hamm was excited about the future of North Dakota’s Bakken shale formation and how some experts felt the play could equal that of Texas’ Permian Basin.

Now comes a report that North Dakota’s oil production has stabilized after two years of decline. The State’s …

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