Independent producer Chaparral Energy said Monday it’s selling its North Burbank (northeast Oklahoma) and Texas Panhandle enhanced oil recovery (EOR) assets for $170 million cash to an undisclosed buyer.
EPA Administrator Scott Pruitt moved Monday to end a controversial practice known as “sue and settle,” which critics say was used during the Obama administration to cut deals with environmental groups, leading to new regulations.
Canadian-based, Latin American-focused oil and gas company Frontera Energy said on Monday it will acquired the 36.36% outstanding share in Pacific Midstream from the International Finance Corporation and other related funds.
Geopolitics tensions in the Middle East continued to support crude futures, with U.S. oil prices nearly rising to a six-month high on Monday following concerns Iraqi and Kurdish forces could ignite in a civil war.
Record U.S. oil exports are set to surge further in coming months, as stored oil in one of the world’s last areas of excess stockpiles pours into global markets, the CEO of trading house Mercuria, Marco Dunand, said last week.
The Railroad Commission of Texas issued a total of 903 original drilling permits in September, Kallanish Energy reports. That compares to 746 permits issued in September 2016, said the state agency that oversees oil and natural gas drilling in Texas. That is a 21.0% increase from a year ago