Category: Crude oil

Neighbors bicker in Pa. over forced gas drilling

Houston-based Hilcorp seeks to use a 1961 Pennsylvania law to drill under the property of four holdout landowners in New Bedford, near the Ohio border an hour north of Pittsburgh. The concept, known as “forced pooling,” means that people who don’t sign leases get bundled in with those who do, to make drilling more efficient and compensate all the landowners.  More »

Feds: Industry hampering oil train safety

U.S. transportation officials rebuked the oil industry Friday for not giving up information regulators say they need to gauge the danger of moving crude by rail, after several accidents highlighted the explosive properties of fuel from the booming oil shale fields on the Northern Plains.  More »

Oil rigs in US extend record as Eagle Ford drilling surges

Rigs targeting oil in the U.S. jumped to a record as energy producers used the most in a year to drill for crude in Texas’s Eagle Ford shale formation. Oil rigs increased by 14 to 1,487, the highest level since Baker Hughes split the oil and gas counts in 1987, data posted on the company’s […]  More »

Energy Extremities This Winter

Even though flipping a coin has better forecasting skills than the dastardly groundhog, Punxsutawney Phil has unfortunately been on the money for this winter.  Despite April on deck next week there is still snow on the ground (in more places than there should be), while our dearly beloved energy commodities have seen rampant demand, receding inventories, […]  More »

Feds list lesser prairie chicken as threatened

WASHINGTON — The Obama administration said Thursday it is placing a grassland grouse known as the lesser prairie chicken on a list of threatened species, a move that could affect oil and gas drilling, wind farms and other activities in five central and southwestern states. The decision by the Fish and Wildlife Service is a […]  More »

Oil up above $101 as US growth rate revised higher

Benchmark U.S. crude for May delivery rose $1.02 to close at $101.28 on the New York Mercantile Exchange. That is the highest closing price in three weeks. On Wednesday, oil jumped $1.07 to close at $100.26.  More »

Oil hovers above $100 despite higher supplies

The price of oil remained above $100 a barrel Thursday as traders held positions after a surge the day before despite a larger-than-expected increase in oil supplies.  More »

US now pumping 10 percent of the world’s crude

The United States accounted for 10 percent of world crude oil production in the fourth quarter, with oil from unconventional tight rock operations accounting for almost half of the crude American wells produced.  More »

Want to hurt Russia? Oil exec suggests exporting crude

The quickest way for the United States to weaken Russia’s influence and help allies abroad is by exporting its crude oil — not its gas — Continental Resources CEO Harold Hamm told lawmakers on Wednesday.  More »

Study: Tight oil still profitable even if crude prices plummet

Even if global oil prices fell more than $30 per barrel, the overwhelmingly majority of U.S. tight oil production would still be profitable, analysts with Wood Mackenzie said Tuesday.  More »

Oil up to near $100 ahead of US stockpiles report

The price of oil crept closer to $100 a barrel Wednesday as investors waited for details on the levels of U.S. crude stockpiles.  More »

Oil down as factory data, sanctions risk weighed

Oil prices edged slightly lower on Tuesday as soft factory data from China and the U.S. balanced the threat of sanctions against Russia following its annexation of the Crimean Peninsula.  More »