Why the U.S. thinks plan to force cap on Russian oil prices could actually work
The Biden administration has proposed a price cap on Russian oil exports to limit President Vladimir...
The Biden administration has proposed a price cap on Russian oil exports to limit President Vladimir Putin’s revenues from oil, which Hochstein said is being used directly to fund the country’s war against Ukraine. The cap is intended to keep Russian oil prices low, without cutting off supply altogether, triggering a devastating spike in global oil prices.
But some EU countries largely dependent on Russian oil have been hesitant to embrace such a move. This is partially because of fears Putin will refuse to sell at the price, and cut off Moscow’s supply altogether.
Total rig count rises for third week - Oklahoma unchanged at 63
The number of active oil and gas rigs in Oklahoma was unchanged in the past week while...
The number of active oil and gas rigs in Oklahoma was unchanged in the past week while the U.S. total rig count increased by two to reach 758 according to the latest Baker Hughes report.
Oklahoma remained at 63 active rigs, the same as a week earlier. Nationally, the count saw no change in the number of oil rigs as numbers remained at 599. The number of gas rigs increased by two to 155.
Nationally, the total count is 267 higher than the 491 rigs reported one year ago. Over the past year, there was an increase of 212 oil rigs and 51 gas rigs.
MarketWatch: U.S. stocks close lower after 3 day winning streak, but still notch biggest weekly advance in a month
Stocks finished lower on Friday, snapping a three-day rally following disappointing economic data and...
Stocks finished lower on Friday, snapping a three-day rally following disappointing economic data and a weak earnings report from Snap Inc. --- while reports from tech behemoths including Apple Inc. [a: aapl] and Microsoft Inc. MSFT, -1.69% are expected next week. The S&P 500 SPX, -0.93% fell 37.32 points, or 0.9%, to close at 3,961.63 after briefly trading above the 4,000 shortly after the open. The Nasdaq Composite COMP, -1.87% slipped 225.50 points, or 1.9%, to 11,834.11, while the Dow Jones Industrial Average DJIA, -0.43% closed 137.61 points, or 0.4%, lower at 31,899.29. Despite Friday's pullback, the S&P 500 and Dow Jones Industrial Average managed to record their biggest weekly gain in a month, while the Nasdaq notched its largest advance since July 8. All three U.S. benchmarks have now risen during two of the last three weeks.
Tulsa firm reports two Canadian County wells with 1,200 barrels of oil a day🔥
Two Canadian County wells drilled by Citizen Energy III LLC on a single...
Two Canadian County wells drilled by Citizen Energy III LLC on a single pad produced more than 1,200 barrels of oil combined a day.
The Tulsa energy company filed completion reports showing the Darrow Trust 3hl-7-18, located at 7 10N 5W, a site about 2 miles southwest of the city of Mustang was completed in April of this year. It had production of 644 barrels of oil a day and 3,875 Mcf of natural gas from a drilled depth of 16,742 feet into the Mississippian formation. The well also had a Dec. 31, 2021 spud date according to its completion report.
The sister well, the Darrow Trust 1hl-7-6, also completed in April produced 567 barrels of oil a day and 3,665 Mcf of natural gas from a depth of 17,451 feet. It was spudded Dec. 29, 2021 according to the filed completion report.
Citizen Energy also completed the Reuter Trust 2hl-8-17 well at 8 11N 8W, a site near El Reno and the production was 169 barrels of oil a day and 1,534 Mcf of natural gas from 20,434 feet in the Woodford formation. The spud date was April of 2020 according to the completion report.
Beachwood Helix Says Two Deals Valued at $863 Million Failed to Close👎
Two deals valued at $863 million,...
Two deals valued at $863 million, announced in May by energy marketplace Beachwood Helix Corp., have been scuttled, Beachwood president and founder Joshua Robbins said.
On July 18, Robbins said one of the deals did not close as planned because the investors behind the oil company “backed out of the deal, terminating over eight months’ worth of effort and hard work to get this closed.”
Robbins added it was “heartbreaking to receive commitments from multiple oil companies only to have the deals fall apart as investors/boards make short term decisions on long term assets. This has been a tough month to work through.”
