Category Archive: Oil & Gas

Crude Oil Futures Rebound from Thursday’s OPEC Announcement

Crude oil futures rebounded on Friday — making up ground for a near 5% loss from Thursday — as investors reconciled their disappointment in OPEC’s less aggressive production cut, according to Bloomberg MarketWatch.

July West Texas Intermediate crude added 90 cents, or 1.8%, to settle at $49.80 a barrel on the New York Mercantile Exchange. …

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Rig Counts Grew Again in Past Week

The oil and gas rig counts in Oklahoma and across the nation increased again in the past week with a nationwide count growing by 7 to reach 908.  Oklahoma’s count increased by one to reach 123 working oil and gas rigs.

Figures from Baker Hughes Company of Houston, Texas and the Red Top Rig …

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NGL Energy Posts $26.5 Million Net Income for 4Q, Nearly $144 Million for FY 2017

Tulsa-based NGL Energy Partners LP announced on Thursday that it posted $26.5 million in net income for the fourth quarter and $143.9 million for Fiscal Year 2017, according to a company press release. This compares with last year’s net losses of $207 million and $187.1 million, respectively.

Earlier in February, NGL issued $500 million of …

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Crude Oil Futures Sink Below $50 a Barrel on Thursday

 

Crude oil futures plunged on Thursday, suffering a price drop of nearly 5% as traders were disappointed with OPEC’s decision to temporarily extend production cuts, according to Bloomberg MarketWatch.

July West Texas Intermediate crude dropped $2.46, or 4.8%, to settle at $48.90 a barrel on the New York Mercantile Exchange.

July Brent crude, the global benchmark, …

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WTI, Brent Crude Fall on Wednesday After Six Consecutive Gains

Prior to Thursday’s highly anticipated OPEC meeting in Vienna, crude oil prices dropped on Wednesday as traders anxiously awaited the announcement on an end or continuation of the production agreement, according to Bloomberg MarketWatch.

July West Texas Intermediate crude shed 11 cents, or 0.2%, to settle at $51.36 a barrel on the New York Mercantile …

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Blaine County’s Latest Large Well—–Interest Grows in Grady County

Blaine County in Oklahoma’s STACK turned out another 1,000-plus oil well according to completion reports shown on OK Energy Today.

Houston-based Marathon Oil came up with the Calf Rope well located about 5 miles northeast of the city of Watonga. (1 16N 11W) Completion showed production of 1,385 barrels a day along with …

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Environmentalists Contend Government Provides $7 billion in Annual Subsidies to Oil and Gas Industry

Several anti oil and gas groups along with the environmental group Oil Change International are out with a report showing the U.S. government provides $7 billion a year in subsidies to support fossil fuel production on federally held lands and offshore waters.

The report says the billions in aid comes through a combination of direct …

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WTI and Brent Crude Futures Build on Fifth Consecutive Gain

Buoyed by expectations that OPEC will extend production cuts, oil prices continued to climb on Tuesday, according to Bloomberg MarketWatch.

July West Texas Intermediate crude tacked on 34 cents, or 0.7%, to settle at $51.47 a barrel on the New York Mercantile Exchange after taking over as a lead contract at Monday’s close.

July Brent …

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Energy Trucks Parked at State Capitol to Remind Legislators of Recovering Industry

Name recognition comes easy for one of the world’s largest oil field services companies like Halliburton. It becomes more visible and apparent to state leaders when there are two large service trucks parked on the Oklahoma Capitol surface lot as the legislative session winds down.

In a story published on Monday in The Oklahoman, …

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Crude Oil Futures Rise on Monday With OPEC Expected to Extend Production Agreement

Crude oil prices continued to climb on Monday as expectations grow for an extension to the OPEC production agreement, according to Bloomberg MarketWatch.

With the June contract expiring at the session’s end, West Texas Intermediate crude added 40 cents, or 0.8%, to settle at $50.73 a barrel on the New York Mercantile Exchange. July WTI …

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