Oil and Natural Gas See Positive Outlook for 2018

Duke Ligon - Diverse Experience as Oklahoma City Oil Executive
Duke Ligon, Oklahoma City

A longtime Oklahoma City business leader, Duke Ligon has brought together diverse aspects of oil and natural gas, finance, and law over his decades of entrepreneurial experience. Duke Ligon has extensive knowledge of natural resource exploration and extraction spanning Oklahoma and Texas and has served on the board of enterprises such as Vantage Drilling Company and Panhandle Oil and Gas, Inc.

Recent news has brought attention to positive momentum for the U.S. oil and gas sector, with gas prices rising toward peaks not seen since 2014. An Oil & Gas 360 article described a particular surge in natural gas consumption, with several export terminals for liquefied natural gas (LNG), including at Cove Point in Maryland, set to open in the next year. Exports to Mexico through Texas are also a critical part of this, with the Sur de Texas pipeline set to open in the latter half of 2018. With approximately 13 gigawatts of capacity from conventional steam coal plants set to retire, LNG-powered plants are expected to pick up the electricity production slack.

The Dallas News also reports that surges in oil prices are already having a positive impact on the state coffers. In particular, prices per barrel, driven to historic lows by fracking, are now on the rebound, with crude’s benchmark price breaking the $60-a-barrel barrier and continuing to rise.

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