Crude-oil futures on Monday settled on a mixed note, with the U.S. oil moves pressured...
Crude-oil futures on Monday settled on a mixed note, with the U.S. oil moves pressured by the growth in coronavirus cases, but international prices gaining on hopes of China’s perceived recovery from the pandemic.
West Texas Intermediate crude for August lost 2 cents, or 0.05%, to settle at $40.63 a barrel on the New York Mercantile Exchange, after posting a weekly gain of 5% on Thursday, with U.S. markets closed for Independence Day on Friday.
Global benchmark Brent oil for September however, rose 30 cents, or 0.7%, from Friday's shortened session to settle at $43.10 a barrel.
Regulators to consider extending decision to close headquarters
Oklahoma Corporation Commissioners plan another regular meeting this week where they will attend “in...
Oklahoma Corporation Commissioners plan another regular meeting this week where they will attend “in person” but the public will have to rely on video or telephone communications to take part.
The Wednesday morning meeting is scheduled to begin at 9:30 and the Commission will consider yet another extension of its COVID-19 responsive order that shut down the Jim Thorpe headquarters building to the public.
“Briefing on and discussion of current status and efforts related to COVID-19 and update regarding use of Interim Order No. 710005, as extended by Order Nos. 710681 and 711669, in Cause No. GD 202000001—Director of Administration Tim Rhodes,” stated the agenda.
There might also be votes on proposed or potential orders in causes on the 24-hour signing agenda docket.
Quintana Energy Services avoids delisting from New York Stock Exchange
Houston oil-field services company Quintana Energy Services avoided...
Houston oil-field services company Quintana Energy Services avoided being delisted from the New York Stock Exchange in the months ahead of a planned merger with KLX Energy Services.
The New York Stock Exchange issued an April 27 delisting warning to Quintana after the price of the company's stock fell below $1 per share. The company has since regained compliance after its average closing price for the 30-trading days ended June 30 were above that threshold.
Quintana and KLX entered into a merger agreement in May and had planned to closed the deal during the second half of 2020.
The combined company will be the largest provider of large diameter coiled tubing services in North America, one of the largest independent providers of directional drilling services, and one of the largest wireline providers in the United States.
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US District Court orders Dakota Access Pipeline shutdown, emptied
A federal judge ordered the shutdown of the ...
A federal judge ordered the shutdown of the Dakota Access Pipeline and it to be emptied, while a lengthy environmental review is conducted.
The pipeline must be emptied by August 5, the court ordered Monday, after finding that the U.S. Army Corps of Engineers violated “the National Environmental Policy Act when it granted an easement” for the pipeline’s construction and operation of crude-oil running beneath Lake Oahe.
U.S. District Judge James Boasberg wrote in a 24-page order that he was “mindful of the disruption such a shutdown will cause,” but said he had concluded that the pipeline must be shut down.
The environmental review for the pipeline, which has been in operation for three years, must be completed within 30 days, according to the judge's order.
The $3.8 billion, 1,172-mile underground pipeline sparked months of protests, sometimes violent, during its construction near the Standing Rock Sioux Reservation that straddles the North Dakota-South Dakota border. It crosses beneath the Missouri River, just north of the reservation.
