PEMA Professional Energy Marketers Association

  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 …

  Northeast Arkansas will be getting a $500 million rebar steel mill further increasing the region’s reputation as a leading steel producing area in the U.S. The Arkansas Democrat Gazette reports the new firm’s project will create 200 manufacturing and other steel-related jobs. Click here for Democrat Gazette

  Based on its third quarter results, ONEOK, Inc. announced it expects a more than 10% increase in its 2023 net income and adjusted earnings compared with the 2022 guidance midpoints. What’s behind it? The company’s 2023 outlook is driven by expected continued strength in fee-based earnings and rates, stable to …

  ONEOK, Inc for the first time is releasing some details about the disastrous July 9 fire that occurred at its liquids fractionation facility in Medford, Oklahoma. It indicated the loss approached $100 million. In its third quarter earnings report, ONEOK stated it had received notice its insurers agreed to …

  Gulfport Energy Corporation’s third quarter was strong enough the company is adding yet another drilling rig in the Utica play. The third quarter saw a reported $18.5 million of net loss and $172.7 million of adjusted EBITDA. The company generated $167.9 million of net cash from its operating activities …