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The concept started to be used by oil traders in the market in early 1990. [2] But it was in 2007 through 2009 that the oil storage trade expanded. [6] Many participants—including Wall Street giants, such as Morgan Stanley, Goldman Sachs, and Citicorp—turned sizeable profits simply by sitting on tanks of oil. [5]
Contango is a situation in which the futures price (or forward price) of a commodity is higher than the expected spot price of the contract at maturity. [1] In a contango situation, arbitrageurs or speculators are "willing to pay more [now] for a commodity [to be received] at some point in the future than the actual expected price of the ...
Oklahoma Natural Gas Company headquarters in Tulsa, Oklahoma built in 1928 OneOK headquarters in Tulsa, Oklahoma on 20 March 2007. Oklahoma Natural Gas Company was founded on October 12, 1906 [3] by businessmen Dennis T. Flynn and Charles B. Ames. [4] During the spring and fall of 1907, the company built a gas pipeline from Osage County to Sapulpa and Oklahoma City. [4]
It was organized in Delaware and headquartered in Denver, Colorado, with operations primarily in Texas, Oklahoma, and New Mexico. [1] As of December 31, 2020, the company had 531 million barrels of oil equivalent (3.25 × 10 9 GJ) of estimated proved reserves, of which 43% was natural gas, 27% was petroleum, and 30% was natural gas liquids. [1]
Targa Resources was founded on October 27, 2005, and is headquartered in Houston, Texas. [4] [5] In 2015, Targa Resources acquired Oklahoma-based Atlas Pipeline Partners LP and Atlas Energy LP. [6] In 2017, Targa acquired Outrigger Delaware Operating, LLC, Outrigger Southern Delaware Operating, LLC and Outrigger Midland Operating, LLC. [7]
Flintco was founded in 1908 as Tulsa Rig, Reel, and Manufacturing Company (TRR). It served as a supplier of drilling and pumping equipment for the burgeoning oil industry. C.W. Flint became co-owner of TRR in 1919, and sole owner in 1935, expanding operations to include oil field lumber yards and the building of derricks.
Sustaining Oklahoma's Energy Resources (SOER), formerly known as the Oklahoma Commission on Marginally Producing Oil and Gas Well, and formerly commonly known as the Oklahoma Marginal Wells Commission (MWC), is a committee under the authority of the Oklahoma Energy Resources Board . The committee is responsible for identifying and evaluating ...
The Oklahoma Energy Resources Board (abbreviated OERB) is an agency of the state of Oklahoma.Funded voluntarily by Oklahoma's oil and natural gas producers and royalty owners, the OERB conducts environmental restoration of orphaned and abandoned well sites, encourages the wise and efficient use of energy, and promotes energy education.