From The Oklahoman Bolstered by an improving economy and increased oilfield activity, the Oklahoma state treasury has taken in a record $12.8 billion in gross tax receipts over the last 12 months, State Treasurer Ken Miller announced Wednesday. Those collections are $1.5 billion, or 13.1 percent, more than collections from the previous 12 months, he reported. The previous record for
From Alaska Journal of Commerce Just about the most expensive crude in North America comes from Alaska’s North Slope. Not that it’s anything all that special, unlike Copper River salmon which fetches a premium price for its high oil content, flavor and color. The geography and markets are just working in our oil-price favor. The past few months, Alaska oil
From CNBC British energy giant BP plans its investments on the back of a $50 to $70 a barrel range to adequately prepare for oil market swings, its Middle East chief told CNBC. Crude prices have been on a rollercoaster ride, falling to a year-low on Friday, just weeks after hitting a nearly four-year high in October ahead of U.S.
With OPEC/non-OPEC conformity at 104% oil prices fall 7%-8% today The OPEC-Non-OPEC Joint Ministerial Monitoring Committee (JMMC) for November met this weekend in Abu Dhabi and noted that countries participating in the Declaration of Cooperation achieved a conformity level of 104% in October 2018. In today’s trading, Brent was off 7%. The international oil benchmark is off more than $20
From Bloomberg Citigroup Inc. has a warning for U.S. oil investors: American crude prices may tumble to the steepest discount against global benchmark Brent since 2013. West Texas Intermediate futures in New York will fall further to become as much as $15 a barrel cheaper than London’s Brent, said Ed Morse, the bank’s global head of commodities research. That’s because
OPEC meeting result: oil production from OPEC member countries is to increase until the over-compliance with 2016’s agreed cuts has been eliminated The anticipated 174th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) concluded in Vienna today with an announcement that with the oil market in apparent balance, OPEC’s goal is to return production to 100%
Bill gives cabinet and environment minister final power to approve or reject a project regardless of the findings of an environment assessment In February 2018, Catherine McKenna, the federal Minister of Environment and Climate Change, introduced Bill C-69. The bill may replace the Canadian Environmental Assessment Act of 2012 (CEAA 2012) with the Impact Assessment Act. McKenna claimed the new
Except for a small drop in the amount of oil produced in 2016, with return to the upswing in 2017, American production has been on a steady increase ever since 2008. Even during the 2014-2016 price crash, U.S. E&Ps hunkered down, strengthened their balance sheets, made technological leaps and kept on producing oil and gas—without depending on the reappearance of
WildHorse Resource Development Corporation (ticker: WRD) reported a net loss available to common stockholders of $123.2 million in Q1 2018, or $(1.24) per share. Net production was 52.4 MBOEPD for the quarter, consisting of 60% oil, 31% natural gas and 9% NGLs. The company said it realized 103% of WTI during Q1 2018. “In 2018, we are further optimizing our
Inadequate pipeline capacity to U.S. and no pipelines to move oil to tidewater ports forces Canadian oil to sell at a big discount Canada’s shortage of pipeline capacity is continuing to drive down the price of Canadian oil and it’s going to cost Canada’s energy sector billions, according to a new study from Canadian think tank Fraser Institute. “Without adequate
From The Wall Street Journal A North Sea oil field named after a 19th century Norwegian prime minister could soon spark a shakeup in the Brent crude benchmark that prices oil around the world. The widely used benchmark risks losing relevance amid declining production from the oil fields that it is priced off. Other oil benchmarks are clamoring for its role, including
The oil and gas sector in Texas remained strong through March according to the Dallas Fed’s new report. Prices for WTI crude oil rose slightly in March, staying close to $63 per barrel and oil production in the Permian Basin and Eagle Ford rose again. Employment spiked up in February and is at its highest level since late 2015, while
