Category Archive: Oil & Gas

WTI and Brent Crude Settlements End Higher on Wednesday

Crude oil futures rebounded on Wednesday to post gains following the Federal Reserve’s announcement to raise interest rates, according to Bloomberg MarketWatch.

April West Texas Intermediate crude rose $1.14, or 2.4%, to settle at $48.86 a barrel on the New York Mercantile Exchange.

On the London ICE Futures Exchange, May Brent crude, the global …

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Oil and Gas Firms Seek More Workers

While Oklahoma’s oil and gas sector added 700 jobs in January, according to the Oklahoma Employment Security Commission, (see OK Energy Today) a look into want ads shows there is a demand for more workers.

Economist Lynn Gray at the Commission is optimistic about what the jobs report for February will show. …

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STACK Scores Another Big Well

The latest big well to be discovered in Oklahoma’s STACK is producing nearly 1,100 barrels of oil a day in Blaine County. Oklahoma City-based Devon Energy Production Company’s completion report filed with the state showed the Chisholm Trail well located mid-way between Kingfisher and Watonga is producing 1,062 barrels a day along with …

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Saudi Arabian Supply Data Dooms Tuesday Crude Oil Settlements

A monthly report released on Tuesday by OPEC raised further doubts whether major crude producers will continue their efforts to rebalance the oil market, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, April West Texas Intermediate crude fell 68 cents, or 1.4%, to settle at $47.72 a barrel, marking a decline for …

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Oklahoma’s Oil and Gas Added 700 Jobs in January

As Oklahoma’s oil and gas sector added jobs in the past few months, it helped the state trim the jobless rate for January from 4.8% to 4.7% according to figures released by the Oklahoma Employment Security Commission.

It still leaves 85,324 Oklahomans out of work. But employment grew by an estimated 6,700 …

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Chaparral Energy to Emerge from Bankruptcy by Month’s End

Another energy company with Oklahoma ties expects to emerge from Chapter 11 bankruptcy by the end of March. Oklahoma City-based Chaparral Energy, Inc.’s plan of reorganization was confirmed by the U.S. Bankruptcy Court of Delaware last Thursday, March 9. The plan received overwhelming support from the company’s bondholders and lenders, according to a …

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Crude Oil Settlements Skid on Monday as Traders Await Government Reports

Oil futures slipped for a sixth session on Monday as traders anticipated the release of weekly and monthly reports that will provide further clues to OPEC’s crude production and global supply, according to Bloomberg MarketWatch.

On the New York Mercantile Exchange, April West Texas Intermediate crude fell 9 cents, or 0.2%, to settle at …

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Baker Hughes Rig Count: Oklahoma Adds Three, U.S. Tacks On 12 New Rigs

Oklahoma had the second-best rig growth last week with the addition of three new rigs while the U.S. rig count increased by 12, according to the Baker Hughes rig count released on Friday.

Canada lost 20 rigs for a total of 315. Canada is up 217 rigs when compared with data from a …

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Oil Futures Tumble as WTI, Brent Book Losses Over 8% For the Week

Crude oil futures dropped for a fifth straight session loss on Friday, settling at their lowest level since late November, according to a report by Bloomberg MarketWatch.

April West Texas Intermediate crude fell by 79 cents, or 1.6%, to settle at $48.49 a barrel on the New York Mercantile Exchange. For the week, prices …

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Hamm Warns of ‘Killing’ the Oil Market with Too Much Oil Production

Billionaire oilman Harold Hamm issued a warning in Houston in the past few days suggesting the U.S. energy industry could literally kill the oil market if it launches another spending binge.

Speaking at CERAWeek, the chairman and founder of Continental Resources Inc.told oil executives U.S. production could go high.

“But it’s going to …

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