Gasoline, Crude Oil Prices Hold Firm #OilmanNEWS 2017 November-December Alex Mills Contributors 

Gasoline, Crude Oil Prices Hold Firm

Gasoline prices followed crude oil prices upward during the Thanksgiving weekend. Crude oil prices on the New York Mercantile Exchange closed at $58.02, and retail regular-grade gasoline averaged $2.57 cents per gallon. The Energy Information Administration (EIA) said gasoline increased 41 cents per gallon from the same time last year. “Although gasoline prices are higher than in both 2015 and… Read More
Highest Thanksgiving Gas Prices Since 2014 to Hit Motorists #OilmanNEWS 2017 November-December Downstream 

Highest Thanksgiving Gas Prices Since 2014 to Hit Motorists

GasBuddy projects that Thanksgiving will see the highest average gas prices since 2014 as the country prepares for the busiest traveling weekend of the year. Yet the average gas price in four of five U.S. states is lower than a week ago, coming as the number of Americans driving is expected to surge by 20 percent* over last Thanksgiving according… Read More
Devon Energy Reports Year-To-Date Sales of Nearly $10 Billion #OilmanNEWS 2017 November-December Oklahoma 

Devon Energy Reports Year-To-Date Sales of Nearly $10 Billion

Oklahoma City-based Devon Energy Corp recently reported fairly strong third-quarter results for 2017, besting their midpoint estimate for hurricane-adjusted guidance. The firm reported net earnings of $228 million, or $0.43 cents per diluted share, for Q3 2017, compared to $993 million for the same time period in 2016. This amounts to a $1.2 billion year-to-date (YTD) profit for the company… Read More
Oil and gas industry future looks ‘attractive’ #OilmanNEWS 2017 November-December Alex Mills Contributors 

Oil and Gas Industry Future Looks ‘Attractive’

After two years of declining prices and reduced employment, the oil and gas industry in Texas and across the nation appears to be making a comeback. A recent report by Morgan Stanley stated: “The exploration and production (E&P) outlook is attractive.” “Energy sentiment has improved from two months ago, as the oil supply and demand balance has tightened and revisions… Read More
Oil and gas index shows Texas producers continuing to recover #OilmanNEWS 2017 November-December Alex Mills Contributors 

Oil and Gas Index Shows Texas Producers Continuing to Recover

WICHITA FALLS—Upstream oil and gas activity in Texas sustained a modest expansion into the 10th straight month in September, according to the Texas Petro Index, which rose to 181.4, 21.4 percent higher than in September 2016 and 22.4 percent higher than in November, when the TPI hit bottom at 148.2. “Crude oil prices in Texas have been the essence of… Read More
Confusion Reigns Supreme In Analysis Of Oil Market #OilmanNEWS 2017 November-December Alex Mills Contributors 

Confusion Reigns Supreme In Analysis Of Oil Market

Conflicting news about crude oil supply and demand created confusion for oil traders last week. In summary: refinery runs were back to normal; petroleum exports set a record; crude oil production had a big increase; oil inventories increased nationwide, but declined at Cushing, as did gasoline and distillate inventories. Sound confusing? It is. However, the bottom line is oil prices… Read More
Low Electricity Prices Doom Two Coal Plants In Texas #OilmanNEWS 2017 November-December Alex Mills Contributors 

Low Electricity Prices Doom Two Coal Plants In Texas

Texas has been blessed with abundant sources of energy. Crude oil and natural gas have made Texas a powerhouse for about 100 years. Coal has been prevalent, too. Now, solar and wind are bringing new sources of power to the Lone Star State’s electric grid. The competition between these energy sources provides consumers with a reliable source of electricity to… Read More
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