Top News & Analysis Oklahoma

More

  • State lawmakers voted to keep in place some of the lowest taxes on oil and gas production in the United States- a break worth $470 million in fiscal year 2015 alone. In Newcastle, 23 miles from the capital of Oklahoma City, John Cerny recently learned that the school attended by his five-year-old granddaughter, Adelynn, will open just four days a week next year.

  • State lawmakers voted to keep in place some of lowest taxes on oil and gas production in the United States- a break worth $470 million in fiscal year 2015 alone. In Newcastle, 23 miles from the capital of Oklahoma City, John Cerny recently learned that the school attended by his five-year-old granddaughter, Adelynn, will open just four days a week next year.

  • *SandRidge sets pre-packaged bankruptcy deal. *SandRidge has assets of $7.0 billion, debt of $4.0 billion. As of March 31, SandRidge estimated it had total assets of $7.0 billion and total debt of $4.0 billion, and Breitburn listed assets of $4.7 billion and liabilities of $3.4 billion.

  • *Caution of Venezuela economic meltdown. NEW YORK/ LONDON, May 16- Oil prices hit six-month highs on Monday on worries about supply outages in Nigeria and Venezuela and as long-time bear Goldman Sachs sounded more positive on the market, although a stockpile build at the U.S. storage hub for crude futures pared gains. In the Americas, U.S. officials warned they were...

  • Williams has accused ETE of trying to get out of the $20 billion deal and filed a lawsuit late on Friday seeking to prevent the Dallas- based firm from terminating its takeover over a tax issue or if the deal isn't closed by a June 28 deadline. "ETE is disappointed that Williams, rather than seriously engaging in discussions regarding the existing transaction, has...

  • *Nigeria crude outage also boosts prices. NEW YORK, May 12- Oil prices rose 1 percent in volatile trade on Thursday, with U.S. crude hitting six-month highs as investors weighed a forecast for tighter global supplies against signs of another storage build at the hub for U.S. crude futures. The bulls prevailed, "said Phil Flynn, analyst at the Price Futures Group in...

  • *Cushing stocks up 548,923 bbls in May 10 week- Genscape. *Cushing builds despite 1 mln bpd in lost Canadian supply. Brent crude futures also rallied early as the IEA, the western world's energy watchdog, noted output from Nigeria, Libya and Venezuela down 450,000 bpd from a year ago.

  • OKLAHOMA CITY, May 12- As the number of earthquakes in Oklahoma exploded into the hundreds in the last few years, nearly a dozen insurance companies moved to limit their exposure, often at the expense of homeowners, a Reuters examination has found. Nearly 3,000 pages of documents from the Oklahoma Insurance Commission reviewed by Reuters show that insurers and...

  • NEW YORK, May 11- U.S. oil and gas explorer SandRidge Energy Inc said on Wednesday that it would not be able to file its financial results for the quarter ended March 31 on time. The company, which disclosed the delay in a filing with the U.S. Securities and Exchange Commission, has been in talks with its creditors on a restructuring deal ahead of a potential bankruptcy.

  • NEW YORK/ HOUSTON May 11- U.S. Midwest refiners are rushing to secure alternatives for crude supply as they worry about prolonged outages after a raging wildfire in Canada shut nearly half of production capacity from the vast oil sands. They pointed to record crude stocks at the U.S. hub of Cushing, Oklahoma, swelling domestic supplies as well as growing imports...

  • Since March, however, six publicly traded energy producers have filed for bankruptcy and five of them opted to file in Houston. The latest was Houston- based Linn Energy LLC, which filed on Wednesday. More companies began to file in Houston after the court adopted a work order that aimed to expedite large cases by directing them to two of its six judges: Martin Isgur...

  • "The report has been quickly viewed as bullish with the crude draw just about exactly opposite to what API had: a 3.4 million barrel build," said Dominick Chirichella, senior partner at the Energy Management Institute in New York, referring to the American Petroleum Institute data released late on Tuesday. Markets extended their gains after the data, with U.S....

  • NEW YORK, May 11- U.S. crude stockpiles fell unexpectedly last week for the first time since March as imports slipped, U.S. government data showed on Wednesday, after a wildfire curtailed production in Canada, the top source of U.S. oil imports. "The report has been quickly viewed as bullish with the crude draw just about exactly opposite to what API had: a 3.4...

  • Buoyed by rises in oil and global stock markets, Wall Street's gains appeared to breathe new life into a two-month rally that petered out in mid-April, and it left the S&P 500 with an increase of nearly 2 percent for 2016.. Bernstein raised its price target on the stock to $1,000, the highest on Wall Street, saying it believes Amazon's margins will expand much faster...

  • NEW YORK, May 9- Oil prices tumbled on Monday on expectations that U.S. crude inventories would again build to record highs, taking the market's focus off swooning Canadian oil output due to raging wildfires. Canada exports almost all its crude from oilsands to the United States. "Positioning has been already very stretched in the oil market," Barclays Capital...

  • NEW YORK, May 9- Oil prices fell more than 3 percent on Monday after traders took in their stride the impact of wildfires on Canada's oil output and after another inventory build at the U.S. hub for crude futures. Almost all of Canada's crude from oil sands is exported to the United States. Oil prices have rebounded by some two-thirds since hitting 12- year lows of...

  • NEW YORK, May 9- Oil prices fell 2 percent or more on Monday after traders took in their stride the impact of wildfires on Canada's oil output and after another inventory build at the U.S. hub for crude futures. Almost all of Canada's crude from oil sands is exported to the United States. Oil prices have risen more than 70 percent since hitting 12- year lows of around...

  • NEW YORK, May 5- Canadian crude prices rallied on Thursday as a raging wildfire in northern Alberta shuttered nearly one-third of the nation's oil sands production and closed some pipelines, raising concerns about temporary shortages of feedstock to U.S. refineries. The massive fire forced all 88,000 residents of Fort McMurray, home to thousands of oil sands...

  • NEW YORK, May 5- Oil prices surged on Thursday after a raging wildfire near Canada's oil sands region curbed output that mainly flows to the United States, before settling off their highs as a rebounding dollar and a huge U.S. stockpile build cut into gains. While the oil sands facilities are mostly to the north of the wildfire in city of Fort McMurray in Alberta that...

  • *Wildfire razes Canadian oil town; some pipelines to U.S. shut Fighting in Libya escalates, disrupting supplies. NEW YORK, May 5- Oil prices jumped about 2 percent on Thursday, resuming their rally from last week, as a raging wildfire cut production from Canada's oil sands region and escalating Libyan violence raised more worries about immediate oil supplies than...