PEMA Professional Energy Marketers Association

  China’s latest COVID policy raised concerns among crude oil analysts Thursday, causing a 2% slide in oil prices. At the same time, the hike in U.S. interest rates pushed up the dollar, adding to growing fears of a global recession which would result in less demand for fuel. West …

  Canoo has announced a battery module manufacturing facility at MidAmerica Industrial Park in Pryor, OK. The new facility will expand Canoo’s manufacturing and employment footprint in the region. Once ramped, the facility will be capable of approximately 3200 MWhs of battery module manufacturing capacity. “We are accelerating our hiring plans …

        SandRidge Energy reported only a slight gain in earnings in the third quarter report issued this week but returned more wells to production following a shutdown in 2020. The company reported its adjusted EBITDA was $54.8 million compared to $53.7 million in the previous quarter. Net …

  Just as billionaire Harold Hamm and his family prepare to take full control of Continental Resources and end public control, the Oklahoma City company reported a strong third quarter earnings. Cash flow from operations totaled $2.22 billion while free cash flow was $1.01 billion. Net income for the quarter …

  U.S. crude oil storage dropped in the past week while there was an increase in the amount of oil stored at the Cushing hub in northern Oklahoma. The EIA reported Cushing’s total of oil in storage as of Oct. 28 was 28.2 million barrels, up from the 26.9 million barrels reported …

  We apologize for some of the technological issues regarding our daily Well Reports—those of Permits to Drill and Completion Reports. They have been absent for the past week. The firm that supplies the data to us has been challenged with the issue and hopes to have things “working again …

  A surprising dividend cut sent shares of Devon Energy plunging on Wednesday. Shares dropped nearly $10 by the time the trading bell sounded. Devon closed down $9.86 or 12.76% to settle at $67.44 a share. It came a day after Devon had an upbeat third quarter earnings report. But, …

  While the Federal Reserve hiked interest rates for the fourth time this year, crude oil prices responded Wednesday with gains for the day. But Oklahoma energy stocks went the opposite direction. West Texas Intermediate crude for December delivery went up $1.63 a barrel to finish the day at $90 …

  Attorney General John O’Connor announced the national Anti-Robocall Litigation Task Force has filed for a court order compelling the production of information from two voice service providers over their alleged involvement in illegal robocalls. “Americans are sick and tired of robocalls,” said Attorney General O’Connor. “They invade our privacy …

  The head of Halliburton suggests the glory days of massive oil and gas production in the Permian Basin might be at an end or at least approaching it. It’s what Jeff Miller, chief executive officer of Halliburton said during a speech this week at an Adipec panel in Abu …