Early reports from today’s OPEC meeting in Vienna indicate members and non-member countries are poised to agree on a nine-month extension for oil production cuts. Stratas Advisors Director of Energy Markets Jeff Quigley is in Vienna and reports that although a nine-month deal is likely, and Brent prices have risen as a result, don’t expect market uncertainty to be put to rest.
ProPetro disclosed Dale Redman, co-founder and former CEO, had violated its insider trading policies over shares pledged for personal loans, which led the company to submit false statements to the SEC.
Today’s featured Forty Under 40 honoree is Nick Vandivere, CEO of ThoughtTrace which is a Houston-based software company using AI and machine learning to streamline operations for the energy industry.
Archer Ltd . CEO John Lechner has resigned from his position, effective immediately, the company said on March 22.