OK Energy News

Despite a larger-than-expected crude stock draw in the past week, oil settled lower on Thursday and brought Oklahoma energy stocks down too. West Texas Intermediate finished down 51 cents or 0.7% to $72.19 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude closed down 66 cents or …

  The U.S. benchmark Henry Hub natural gas price averaged $2.57 per million British thermal units (MMBtu) in 2023, about a 62% drop from the 2022 average annual price, according to data from Refinitiv Eikon. Record-high natural gas production, flat consumption, and rising natural gas inventories contributed to lower prices in …

  Denver-based Civitas Resources announced this week it closed on a $2.2 billion acquisition of Vencer Energy’s assets in the Permian Basin. The deal was originally announced last October and involves 44,000 acres in the eastern Midland Basin of West Texas. Production is estimated at nearly 62,000 barrels of oil …

A strike that shut down Libya’s top oilfield added to growing Middle East tensions about global oil supplies and sent crude oil prices up nearly 3% on Wednesday. West Texas Intermediate crude rose $2.32 or 3.3% to close at $72.70 a barrel on the New York Mercantile Exchange. Brent crude …

  The Southwest Power Pool, of which Oklahoma is a member, announced the naming of Felek Abbas as vice president and chief security officer. The appointment was effective Wednesday. The new position is important to safeguarding SPP’s vital role in grid operations and protecting SPP’s data and personnel. “Cyber and …

  U.S. retail gasoline prices in 2023 averaged $0.43 per gallon (gal) less than in 2022, according to data from the U.S. Energy Information Administration’s Gasoline and Diesel Fuel Update. This decline was due, in part, to lower crude oil prices in 2023 compared with 2022 and higher gasoline inventories …

  Halliburton Company has been named to the 2023 Dow Jones Sustainability Indices (DJSI). 2023 marks the third consecutive year that the company has been named to the list. DJSI assesses the sustainability performance of companies using a transparent, rules-based process based on the annual S&P Global Corporate Sustainability Assessment …

  New Mexico wants new rules perhaps putting more restrictions on ground water use by the oil and gas industry. Its Environment Department recently announced a move to petition the Water Quality Control Commission to begin formal deliverations on the proposed rules, according to the Associated Press. The rules will …

US crude oil prices started 2024 with a loss and so did the global benchmark, thanks to an ease in concerns about supplies being disrupted by Houthi attacks in the Red Sea. West Texas Intermediate crude finished down $1.27 or 1.8% to $70.38 a barrel on the New York Mercantile …

  The price of Brent crude oil averaged $83 per barrel (b) in 2023, down from $101/b in 2022, a difference of $19/b after rounding. Global markets adjusted to new trade dynamics, with crude oil from Russia finding destinations outside the EU, and global crude oil demand fell short of expectations. Those …