OklahomaMinerals.com

Featured
Latest
Popular

Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy, Oil, Financing, Banks, Wall Street, Lending, Fossil Fuel

Energy Lending Shrinks as Upstream Spending Declines

Presidio, SPAC, Merger, Panhandle

Presidio, SPAC, Merger, Panhandle

Presidio Targets Public Debut in $660M SPAC Deal

Chevron, Exxon, Europe, Oil, Production

Chevron, Exxon, Europe, Oil, Production

Exxon, Chevron Raise Production as Europe Falls Behind

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

At least four tankers discharged millions of barrels of Russian crude at Indian refineries over the weekend, even as pressure ramps up by USA

Tankers Deliver Russian Crude to India Despite USA and EU Pressure

Featured Article

Snippets

Talos Energy High Bidder in GOM Lease Sale
Talos Energy announced that it was named as...
Talos Energy announced that it was named as the apparent high bidder on 13 deepwater blocks comprising approximately 74,000 gross acres (approximately 48,000 net acres) in the U.S. Gulf of Mexico Outer Continental Shelf Federal Lease Sale 261 held by the Bureau of Ocean Energy Management on December 20, 2023. Leases for all blocks remain subject to normal-course, formal award by the Department of the Interior.
Read More
U.S. stocks end mostly higher ahead of Christmas break
(Friday market close) Major U.S. equity benchmarks...
(Friday market close) Major U.S. equity benchmarks ended mixed Friday but still posted their eighth consecutive weekly gains while one last round of data before the three-day holiday weekend gifted investors with further signs of easing inflation and consumer strength, bolstering hopes the new year will bring rate cuts from the Federal Reserve and a "soft landing" for the economy.

Earlier Friday, the Commerce Department reported the overall Personal Consumption Expenditures (PCE) price index fell 0.1% in November from October, contrary to expectations for a 0.1% increase. The PCE core rate, which excludes food and energy prices, rose just 0.1%, also below expectations. Compared to November 2022, core PCE was up 3.2%, the smallest annual increase since April 2021.

A sharp drop in Nike (NKE) shares, which plunged nearly 12% after reporting disappointing quarterly results, weighed on the Dow Jones Industrial Average^® (DJI). But the market otherwise is poised to end the year on a firm note amid growing optimism over inflation and prospects for Fed rate cuts. The eight-week winning streak for the S&P 500^® index (SPX) is its longest since 2017.

"The trend in inflation is decidedly lower," said Kathy Jones, chief fixed income strategist at Schwab. She noted that core PCE averaged 2% over the past six months, even with the Fed's long-term inflation target. "The market continues to price in significant rate cuts in 2024," she added.

Here's where the major benchmarks ended:

The S&P 500^® index was up 7.88 points (0.2%) at 4,754.63, up 0.8% for the week; the Dow Jones Industrial Average was down 18.38 points at 37,385.97, up 0.2% for the week; the Nasdaq Composite^® (COMP) was up 29.11 points (0.2%) at 14,992.97, up 1.2% for the week.

The 10-year Treasury note yield (TNX) was up about 1 basis point at 3.901%.

The CBOE^® Volatility Index (VIX) was down 0.62 at 13.03.

Read More
Closing Oil & Gas Prices for Friday
Benchmark U.S. crude oil for...
Benchmark U.S. crude oil for February delivery fell 33 cents to $73.56 per barrel Friday. Brent crude for February delivery fell 32 cents to $79.07 per barrel.

Wholesale gasoline for January delivery fell 3 cents to $2.13 a gallon. January heating oil fell 4 cents to $2.66 a gallon. January natural gas rose 4 cents to $2.61 per 1,000 cubic feet.
Read More
Rig Count Drops for Second Week in a Row
U.S. energy firms this week cut the number of oil and...
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row for the first time since mid-November, energy services firm Baker Hughes said in its closely followed report on Dec. 21.

The oil and gas rig count, an early indicator of future output, fell by three to 620 in the week to Dec. 21, the lowest since mid-November.

Baker Hughes said that put the total rig count down 159 rigs, or 20%, below this time last year.

Baker Hughes said U.S. oil rigs fell by three to 498 this week, their lowest since mid-November, while gas rigs rose by one to 120, their highest since mid-September.

The total number of drilled but uncompleted (DUC) wells remaining dropped to a record low of 4,415 in November, according to federal energy data going back to December 2013.

Read More
Shell, Trinidat NGC Get 30yr License to Produce in Venezuela
A license extended by Venezuela to Shell and...
A license extended by Venezuela to Shell and Trinidad and Tobago's National Gas Company (NGC) will allow the companies to produce natural gas off the South American country's coast for 30 years, state oil company PDVSA said on Friday.

Venezuela, Shell, and NGC on Thursday signed the license in Caracas for the Dragon project following a U.S. authorization granted in January, which could mark the OPEC country's first exports of its vast offshore gas reserves.
Read More

To Top

Lease or Sell Your Minerals Rights in Oklahoma or Texas ➡️(405) 492-6277