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Crude Oil Pricing Can Be Confusing #OilmanNEWS 2017 July-August Alex Mills Contributors 

Crude Oil Pricing Can Be Confusing

The factors contributing to the price of crude oil have confused many seasoned observers for years. Generally, supply and demand have been the most important considerations. For example, when there is an oversupply, prices decline, which increases demand and consumption. When demand increases and the oversupply turns into a shortage, prices increase, resulting in a decline in consumption, and the... Read More
Optimizing IT Spend: Critical Success Factors: Decision Framework and Timing #OilmanNEWS 2017 July-August 

Optimizing IT Spend: Critical Success Factors: Decision Framework and Timing

This article is part three of a four-part series on optimizing IT costs. As revenue decline continues to place scrutiny on all technology costs, a programmatic model to review technology spend and impact across all budgets, internal and external to IT, can identify quick-wins and long-term cost efficiency opportunities. Not only can a cost optimization program help evaluate the tradeoffs... Read More
Weir Oil & Gas Acquires Pressure Control Provider KOP Surface Products #OilmanNEWS Texas Upstream 

Weir Oil & Gas Acquires Pressure Control Provider KOP Surface Products

Weir Oil & Gas has entered into an agreement to acquire KOP Surface Products, a provider of wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry. KOP employs 450 people and is headquartered in Singapore, with a manufacturing facility in Batam, Indonesia, in addition to a network of sales and service offices in Malaysia, Thailand,... Read More
SemGroup Acquires Strategic Oil Terminal in Houston #OilmanNEWS 2017 July-August Oklahoma 

SemGroup Acquires Strategic Oil Terminal in Houston

On June 6, Tulsa, Oklahoma-based SemGroup Corporation announced that it had entered an agreement to acquire Houston Fuel Oil Terminal Company (HFOTCO). The move diversifies SemGroup’s overall business offerings, and it gives the firm a foothold in the Houston Ship Channel, a well-established and strategic location for the transportation of oil and gas. SemGroup will be purchasing HFOTCO, one of the largest U.S.... Read More
Texas oil and gas expansion frustrates OPEC production cuts #OilmanNEWS Alex Mills Contributors 

Texas oil and gas expansion frustrates OPEC production cuts

WICHITA FALLS—Upstream oil and gas development in Texas rallied for the fifth straight month in April, according to the Texas Petro Index, which improved to 164.3 to post its first year-over-year increase in 27 months. Among TPI indicators logging big year-over-year gains in April were wellhead prices for crude oil and natural gas, the number of drilling rigs at work,... Read More
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