Oil price extends drop to 7 month lows, despite OPEC cuts
The price is just below the price seen in November, when OPEC and 10 other oil-producing countries agreed to cut their production to combat a growing supply glut and push the market up.
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CountryMark revenue drops 40 percent as oil prices plunge in last two years
After a six-year run-up for the Indianapolis-based oil refiner that saw its revenue nearly double, the company has eliminated about 25 jobs, 2 percent of its workforce, in recent months.
U.S. to speed oil, gas permits amid sharp drop in applications
Low energy prices have curtailed domestic energy exploration, driving down revenue. Permit applications for oil and gas drilling were projected to be down 40 percent versus their historical average amid an ongoing price slump.
New oil refinery co-owned by Calumet off to tough start
The shale boom is threatening to ruin a renaissance in small refineries, known as teapots, before it even begins.
Keystone XL pipeline developer asks U.S. to suspend review
Keystone XL has become one of the most contentious energy issues of Barack Obama’s presidency, and the pause would allow him to put off a tough decision on an issue that has divided key Democratic constituencies.
Oil production in U.S. seen tumbling due to price drop
Amid booming U.S. production and high OPEC output, the benchmark price of oil plunged from more than $100 per barrel last year to about $45 this week.
BP restarts part of key oil refinery after repairs
An analyst said gasoline prices in Indiana and neighboring states served by the refinery could fall 20 cents to 50 cents a gallon over the next two weeks.
Investors seek payoff from Indiana oil wells that big players ignore
Indiana is experiencing a mini oil-boom, thanks to some big producers, but some small, private investors are also in on the game, through Indianapolis-based Midwest Energy Partners, formed four years ago by former CountryMark executive Bill Herrick.
Calumet goes back to market with public offering
The Indianapolis-based petroleum refiner plans to use proceeds from the 5.3 million unit stock offering for working capital, acquisitions and possibly the redemption or repurchase of debt.
Indianapolis firm seeks oil in north-central Indiana
Indianapolis-based CountryMark hopes an Indiana oil field that once was the largest in the United States can be lucrative again.
CountryMark paying $18 million for pollution controls
Government officials alleged Indianapolis-based CountryMark violated the law when the oil refiner expanded operations without obtaining proper permits and installing necessary pollution controls.
Calumet Specialty buys Texas refinery for $115M
Indianapolis-based Calumet Specialty Products Partners LP said Monday that it is buying NuStar's San Antonio, Texas, refinery assets for about $115 million.
Midwest Energy oil firm drilling for $15M
An Indianapolis investment advisory oil firm has been looking for blowouts in its own back yard. Midwest Energy Partners is preparing for its seventh—and largest—round of funding to pay for oil drilling in southwestern Indiana and southeastern Illinois.
CountryMark buying oil, natural gas operations for $125 million
Indianapolis-based CountryMark Cooperative Holding Corp. said Friday morning that it has agreed to pay $125 million to purchase a portion of the oil and natural gas operations of Continental Resources Inc. in Oklahoma City.
Oil search planned at Indiana State campus
Terre Haute's public works board voted Monday to give permission for a Michigan company to begin seismic testing at several locations on university-owned property near the city's downtown.
Refinery problems, spill drive up Great Lakes gas
Several Great Lakes states have seen prices surge about 40 cents per gallon in the last week. That follows a pipeline rupture and shutdown in Wisconsin and equipment problems at refineries in Indiana and Illinois.
More oil exploration planned in western Indiana
An oil company is planning more drilling in western Indiana near where it made a large oil discovery last year on land owned by the Hulman family.
Indiana oil production surges amid high prices
Crude-oil production jumped 8.3 percent in Indiana in 2011, to just under 2 million barrels—the highest output in a decade, according to data from the Indiana Department of Natural Resources.
Investors in Midwest Energy Partners await gusher
The company raised $4.6 million to drill for oil in southwestern Indiana and southern Illinois.
Indiana environmentalists wary of oil pipeline plan
The oil industry says a new oil pipeline from Canada to the Gulf Coast might create jobs for Indiana residents if the Obama administration approves its construction.