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US rig count down 2 this week to 698

natural gas drilling rig

HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 698. The Houston firm said Thursday 536 rigs sought oil and 162 explored for natural gas amid depressed energy prices. A year ago, 1,811 rigs were active. Among major oil- and gas-producing states, ...

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3 earthquakes of magnitude 4.0 or more hit northwest Oklahoma

earthquake

FAIRVIEW, Okla. — Three earthquakes capable of causing moderate damage rocked northwestern Oklahoma overnight, but there were no immediate reports of significant damage or injuries. The U.S. Geological Survey reports a magnitude 4.7 quake hit just before 10:30 p.m. Wednesday about 20 miles northwest of Fairview and a magnitude 4.8 quake struck about a half mile away less than a ...

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Crude oil prices drop more than 1 percent as weak outlook prevails

SINGAPORE (Reuters) – Crude oil futures fell around half a dollar early on Wednesday as the market remained under pressure from slowing demand and high supplies, while forecasts that a cold snap in Europe and the United States would be short-lived also hurt prices. Crude prices have plunged by two-thirds since mid-2014 as soaring output from the Organization of the ...

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Company to hold meeting on decade-old oil leak in Gulf

BATON ROUGE, La. (AP) — The company responsible for a decade-old oil leak in the Gulf of Mexico will hold a public meeting next month to disclose details of its efforts to stop chronic slicks from forming off Louisiana’s coast. The Jan. 20 forum in Baton Rouge was a requirement of Taylor Energy Co.’s court settlement in September with environmental ...

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Alaska oil and gas industry jobless claims up for seventh straight month

The sun sets behind an oil drilling rig in Prudhoe Bay, Alaska on March 17, 2011. REUTERS/Lucas Jackson

Jobless benefits claims are down in Alaska and across the country, but the same cannot be said for the state’s oil and gas sector. The lack of available work has boosted the number of former workers in the extraction and support industries who have filed for unemployment, according to the state labor department. Year-on-year increases in existing unemployment insurance claims ...

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Oil price collapse, layoffs lead to Oklahoma tax revenue failure

Oklahoma Capitol Building - The state capitol building in Oklahoma City, with famous oil well on grounds.

The major decline in Oklahoma’s biggest industry is impacting almost every major tax category and means the state won’t have the revenue to fully fund the Fiscal Year 2016 budget that went into effect July 1. On Monday, the Board of Equalization projected that the Legislature will have $900.8 million less to appropriate next year. House Republican Appropriations and Budget ...

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US rigs down 9 this week to 700

HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by nine this week to 700. The Houston firm said Wednesday 538 rigs sought oil and 162 explored for natural gas amid depressed energy prices. A year ago, 1,840 rigs were active. Among major oil- and ...

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PRC approves San Juan Generating Station plan

FARMINGTON — By a vote of 4-1, the state Public Regulation Commission on Wednesday approved a plan that allows the San Juan Generating Station to continue operating. The final PRC vote on the plan — a compromise that will bring the coal-fired power plant into compliance with federal haze regulations by shutting down two of its four generating units — ...

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A state-by-state look at renewable energy requirements

Twenty-nine states and the District of Columbia have requirements that utilities get a certain amount of their electricity from renewable sources. Nine additional states have goals for renewable energy, while a dozen others have no targets. A state-by-state look at renewable energy policies. ALABAMA No renewable energy standard. ALASKA A bill passed in 2010 sets a goal, but not a ...

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Lawmakers question delays in energy lease sales

BILLINGS, Mont. (AP) — Members of Congress from eleven states say they’re concerned about postponements to recent oil and gas lease sales. The lawmakers wrote U.S. Interior Department Assistant Secretary Janice Schneider asking her to explain the delays by Jan. 5. They cited postponed sales on public lands in Arkansas, Utah and Michigan. The effort is led by two Utah ...

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