OklahomaMinerals.com

Snippets

• US rig count down two as prices rise - Oklahoma No Change
  The rig count in the Permian Basin was unchanged this week, the latest count Friday...
  The rig count in the Permian Basin was unchanged this week, the latest count Friday by Baker Hughes shows, with 255 rigs active in the region. A year ago, 305 rigs were active in the Permian.  In Oklahoma, the rig count remains unchanged at 43 rigs turning to the right.
  
  Nationally, the oil and gas rig count is down two from last week at 536 rigs. A year ago, 583 rigs were active. The count shows that 412 rigs are drilling for oil, up one from the previous week, and 119 are drilling for natural gas, down three from the previous week. The count also shows five miscellaneous rigs, unchanged from the previous week.
  
  The U.S. rig count peaked at 4,530 in 1981. It bottomed out in August of 2020 at 244.
  
  The regional benchmark Plains-West Texas Intermediate Posting ended Friday at $60.49 per barrel, up 35 cents from last Friday’s close. National benchmark West Texas Intermediate crude ended at $64.01 per barrel, up 35 cents from the previous week.
  Read More
• Rockies oil and gas moves back into investors' spotlight
  Eased federal oversight, consistent geology and accessible inventory...
  Eased federal oversight, consistent geology and accessible inventory are drawing new investment into the Rocky Mountain oil and natural gas region, according to BOK Financial analysts. The Rockies may not match the Permian Basin's peak wells, but they offer scale and reliability that position the region for lasting growth. Operators are targeting both new development and the optimization of existing wells, setting the stage for sustained returns.
  Read More
• Travelers may pay the cheapest Labor Day gas prices in 5 years
  Americans this weekend are likely to pay the lowest gas...

  Americans this weekend are likely to pay the lowest gas prices at the pump on the Labor Day holiday since the pandemic, thanks in part to Wall Street bracing for a sharp slowdown in travel this fall.

  
  

  While summer’s end typically coincides with a pullback in travel, this year has been complicated by foiled U.S. efforts to squash the flow of crude from Russia, contributing to the first monthly drop in oil prices since April.

  
  

  Against that backdrop, GasBuddy said earlier this week that it expects gas prices on the last summer holiday weekend of this year to average $3.15 a gallon. That would be the lowest Labor Day price at the pump since 2020, it noted.

  
  

  “When it comes to gas prices, it’s been the cheapest summer to hit the road since the pandemic, a trend that will likely continue with the potential for the national average to fall below $3 per gallon this fall,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a press release.

  Read More
• DAILY OIL PRICE: August 29, 2025
  Crude Oil: 64.01   (-0.59). Nymex MTD AVG: 64.1213....
  
  
  • Crude Oil: 64.01   (-0.59).
  
  
  • Nymex MTD AVG: 64.1213.
  
  
  • Natural Gas: 2.997   (+0.053).
  
  
  • Gasoline: 2.1876   (-0.0115).
  
  
  • Spreads: October/November (+0.55)     November/December (+0.47).
  
  
  • Plains WTI Posting: 60.49   (-0.59).
  
  

  
  
  Read More
• U.S. stocks close lower ahead of Labor Day weekend but still book August gains
  The U.S. stock market closed lower Friday, weighed down...

  The U.S. stock market closed lower Friday, weighed down by Big Tech as all three major benchmarks saw weekly losses but still finished August with monthly gains.

  
  

  The Dow Jones Industrial Average retreated 92.02 points on Friday, or 0.2%, to close at 45,544.88.

  
  

  The S&P 500 fell 41.60 points, 0.6%, to end at 6,460.26.

  
  

  The Nasdaq Composite dropped 249.61 points, or a sharp 1.1%, to finish at 21,455.55.

  
  

  The big event on the U.S. economic calendar Friday was the fresh inflation data from the personal-consumption-expenditures price index, which was in line with Wall Street’s expectations.

  
  

  “There’s no new justification” for the stock market’s selloff on Friday, except for maybe investors wanted to dodge September as the historically worst month for returns, said José Torres, senior economist at Interactive Brokers, in emailed comments. On the last trading day of August, investors were “grabbing profits,” following the S&P 500’s rally so far this year, he said.

  
  

  The S&P 500 has rallied 9.8% in 2025, including an August gain of 1.9%. The Dow climbed 3.2% in August while the tech-heavy Nasdaq finished with a monthly gain of 1.6%.  The U.S. stock market will be closed on Monday in honor of Labor Day.

  Read More

• Prev
• Next