PEMA Professional Energy Marketers Association

  Thursday brought higher crude oil prices after the IEA joined OPEC in predicting strong growth in global oil demand and there was a big weekly draw in crude oil inventories in the U.S. and the Cushing Hub. Crude oil traders also expressed more concern about the risks in the …

  Oklahoma City sent out an alert late Thursday asking for its city water users to begin conserving water because of continued higher-than-normal demand on the water system over the past five days. The request came from the Utilities Department which indicated that during the winter season, when overall water …

  Plans to ship Utah’s Uinta Basin crude oil on a rail line through Colorado and eventually to Oklahoma’s Cushing hub just got harder—if not impossible. The proposed Unita Basin Railway Project was fought by western Colorado Counties who feared train derailments could cause environmental catastrophes. This week, the U.S. …

  Tallgrass Energy Partners, LP, the Kansas City-based company with pipelines extending to Oklahoma’s Cushing Hub, announced this week an $800 million offering of notes. Designed to raise money for the company, the offering was increased from the original $700 million to the new value of $800 million. It includes …

  Those Pilot Travel Centers around Oklahoma are now totally owned by Berkshire Hathaway. Billionaire Warren Buffet’s company announced this week it acquired the remaining 20% in Pilot Travel Centers LLC across the nation. It means the 750 travel centers around the U.S. are 100% owned by Berkshire Hathaway. Eleven …

  ONEOK announced this week the extension of its share repurchase program saying its goal in the next few years is to acquire $2 billion in shares. The board of directors said  the effort will be made over the next four years, explaining the buyback will “complement the dividend growth …

Crude oil prices remained nearly flat in Wednesday’s trading with Brent down and WTI up a little after China had disappointing economic growth, resulting in concerns about energy demand. Plus, crude oil production in North Dakota has been cut in half because of extremely low temperatures. It also proved to …

  Copper thieves were so desperate to swipe the metal from a radio tower in Hugo, they cut the tires holding the tower, causing the 500-foot structure to collapse, knocking a local radio station off the air. “You’ve robbed the community of a voice. You’ve robbed the community of a …

Temperatures were so low this week in North Dakota—how about minus 20 for a high—that the state’s oil production was cut in half. Oil production fell between 600,000 and 650,000 barrels a day as of Tuesday, reported the North Dakota Pipeline Authority. Justin Kringstad, director of the state’s pipeline authority …

  A Dallas oil and gas company that is not even one year old is making some headlines in the Permian Basin where it started making more acquisitions for oil production. Ellipsis U.S. Onshore, formed in June 2023, is considered a newcomer to the Delaware Basin which makes up the …