Category Archive: Oil & Gas

WTI Falls Below $50 a Barrel as Active Rig Count Rises on Friday

Crude oil futures slid further on Friday as the U.S. benchmark ended below $50 a barrel while the domestic rig count revealed further growth, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, June West Texas Intermediate crude fell by $1.09, or 2.2%, to settle at $49.62 a barrel. The settlement was its lowest …

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Oklahoma’s Rig Count Slips While National Count Grows

For the first time in seven weeks, the oil and gas rig count in Oklahoma declined in the past week while the national count grew to reach 857 rigs.

Baker Hughes Co. in  Houston announced Oklahoma’s count dropped by one to  reach 124. A year ago, the state’s rig count was 63. The increase …

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SCOOP Produces Massive Gas Well

It wasn’t just the nearly 900 barrels of oil equivalent a day that came out of a Grady county well that no doubt got the attention of the developers. It was the nearly 16,000 Mcf of natural gas being produced on a daily basis.

The Lynda well in the SE Cana Field of the …

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Growing Claims Over Loss of Existing Wells Due to Horizontal Drilling

No letup in the growing dispute between the horizontal oil and gas drillers and those who contend the horizontal wells are taking from their existing vertical wells.

Members of the new group called Oklahoma Energy Producers Association are making claims of wells lost to the horizontal drilling operations.

One unconfirmed report claims hundreds of …

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BP May Unload Non-Core Canadian Joint Venture Stake with Devon Energy

London-based petroleum giant, BP, may sell its stake in a joint venture asset operated by Devon Energy Corporation as it seeks to divest three Canadian projects, according to a Reuters report issued on Thursday.

The company is focused on eliminating non-core assets in order to direct capital back into targeted play areas generating greater …

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Jeff Ritenour Promoted to Chief Financial Officer at Devon Energy

Oklahoma City-based Devon Energy Corp. has a new CFO. Jeff Ritenour, who most recently served as Devon’s senior vice president of corporate finance, investor relations and treasurer, was elected to the new post by the board on Wednesday.

“I want to congratulate Jeff on his well-deserved promotion to executive vice president and CFO,” said Dave …

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Brent Crude Up, WTI Down as Oil Futures Yield Mixed Results on Thursday

Crude oil prices finished with mixed results on Thursday, as light, sweet, crude continued to fall while Brent crude moved higher, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, May West Texas Intermediate crude fell 17 cents, or 0.3%, to settle at $50.27 a barrel.

The May futures contract expired at the session’s …

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WTI, Brent Crude Post Gains on Wednesday as Domestic Output Continues to Rise

Crude oil futures rebounded on Thursday after dropping to their lowest level in almost three weeks as traders worried that domestic production would offset the production cuts being made by OPEC, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, May West Texas Intermediate crude oil futures settled at $50.96 a barrel, up …

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Oil Settlements Take a Tumble on Tuesday

Crude oil futures settled lower Tuesday as concerns mound over further growth in U.S. production output, according to Bloomberg MarketWatch.

May West Texas Intermediate crude fell 24 cents, or 0.5%, to settle at $52.41 a barrel on the New York Mercantile Exchange.

June Brent crude, the global benchmark, fell by 47 cents, or 0.9%, to …

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Crude Oil and Natural Gas Futures Fall on Monday

Pressured by data revealing a rise in the number of active domestic rigs and forecasts predicting increased production, oil prices dropped on Monday, according to Bloomberg MarketWatch.

May West Texas Intermediate crude fell 53 cents, or 1%, to settle at $52.65 a barrel on the New York Mercantile Exchange.

On the London ICE Futures Exchange, …

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