Oil Rallies On U.S. Data, Bullish EIA Monthly Report

Oil futures rallied on Tuesday and U.S. crude approached 2015 highs on strong jobs data and government forecasts for lower U.S. crude production growth and higher global demand for oil. U.S. job openings surged to a 14-year high in February the Labor Department’s monthly Job Openings and Labor Turnover Survey (JOLTS) said, helping erase oil’s… Read more »

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Colorado Sets Oil Production Record

A 60-year-old record was broken in 2014 as oil production in Colorado reached a preliminary total of nearly 83 million barrels, and the new mark is likely to stand for a while. The center of Colorado’s oil boom is Weld County, just north and east of Denver, where horizontal drilling and hydraulic fracturing have opened… Read more »

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The Basics of Oil and Gas Exploration Today

As early as the 16th century, explorers noted oil slicks off the coast of California. By the early 1800s, oil extracted from shale deposits was being used in medicines and as a lubricant for machinery. Refined into kerosene, it began replacing more expensive whale oil as fuel for lamps. Most oil was extracted from water,… Read more »

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CATEGORIES Oil Turns Higher, Holding Ground Above $60

Oil futures made a sudden turn higher Tuesday, with analysts attributing the bounce to technical price triggers, expectations for a weekly decline in U.S. crude supplies and a U.S. plan to help Europe defend against security threats, which highlighted U.S. tensions with Russia. August crude CLQ5, +1.37%  tacked on 56 cents, or 0.9%, to $60.94… Read more »

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New Oil and Gas Rules Set for Colorado

Reacting to oil and gas spills during the September 2013 floods that caused over $1 billion worth of damage, the Colorado Oil and Gas Conservation Commission set new rules for operations in flood plains. The rainfall and subsequent floods, described by some experts as a 1,000-year rain and a 100-year flood, caused spills of more… Read more »

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5 Biggest Oil Production States in the US

It’s hard to believe that it has been over 50 years since Jed Clampett struck it rich when his hunting rifle accidentally went off and unleashed a backwoods gusher. Since then, rifles and shotguns have been replaced by more sophisticated methods of exploration and extraction, leading to an oil boom the likes of which haven’t… Read more »

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