SandRidge board member dies

  Bob. G. Alexander, a long time member of the board of directors  for SandRidge Energy, Inc. and Oklahoma oilman died this week. He was named to the SandRidge board in 2018 after activist investor Carl Icahn won a proxy fight with the company.  Alexander founded the Alexander Energy Corp and led it until the …

Continue reading »

Latest well completions include 8 from Continental Resources

  Despite the low oil prices, Oklahoma City-based Continental Resources Inc. filed 8 completion reports this week with the Oklahoma Corporation Commission. Three were wells on a single pad in Garvin County with production of about 800 barrels of oil a day. The three wells had production of 449, 139 and 169 barrels of oil …

Continue reading »

Energy news in brief

** Xcel Energy is selling a 760 MW natural gas plant in southern Minnesota for $30 million more than it paid for the plant three months ago. ** A company that runs gas generators at oil drilling sites in North Dakota installs high-speed cloud computing units for use by researchers in other states as they work on coronavirus vaccines. ** Lower export …

Continue reading »

Falling oil prices fizzle Wall Street rally

While Wall Street went through a stock market rally on Tuesday, it fizzled after oil prices plunged, falling $1.82 to reach $24.26 at the end of trading. West Texas Intermediate crude led the collapse in oil prices as Brent crude in London dropped 49 cents to $32.56. Natural Gas prices rose 18 cents to reach …

Continue reading »

What EPA won’t do, Colorado officials say they will do

While the Environmental Protection Agency is backing away from enforcing many of the nation’s environmental laws, health officials in Colorado say they will enforce the laws concerning air and water pollution. “At a time when everyone in Colorado is rallying to fight the spread of a serious respiratory illness, it would be unacceptable for us …

Continue reading »

Hundreds laid off by Halliburton in Duncan

The city of Duncan was dealt a heavy blow this week when Halliburton, the oilfield service giant that was formed 100 years ago in southern Oklahoma before moving to Houston laid off 350 workers. It was the latest sign of how the oil and gas industry is contracting in what has grown into a brutal …

Continue reading »

Federal bank survey finds energy activity drops to record lows

The Federal Reserve Bank of Kansas City released the first quarter Energy Survey this week, showing how energy activity in the Tenth District that includes Oklahoma decreased at a steep pace and expectations for future activity dropped further. “District energy activity fell sharply during the first quarter of 2020, with our index dropping to its lowest …

Continue reading »

As oil prices suffer amid coronavirus outbreak, New Mexico offers relief to shut-in wells

New Mexico’s State Land Office announced it plans to take emergency rulemaking steps to allow oil operators to temporarily stop production without penalty for at least 30 days. Commissioner Garcia Richard said the companies will have a possible extension up to 120 days in light of the COVID-19 pandemic and its effects and the Russia …

Continue reading »

Mild winter hurts Kansas salt providing company

  A somewhat mild winter resulted in lower sales for Compass Minerals, an Overland Park, Kansas based company that provides essential deicing salt. The company announced its first quarter 2020 winter weather activity in North America and the United Kingdom was below average. Eleven representative cities in the company’s primary North American highway deicing service …

Continue reading »

ExxonMobil makes even more budget cuts

The combined impact of the COVID-19 epidemic and the plunge of crude oil prices forced ExxonMobil to make further cuts in its 2020 capital spending. The company announced Tuesday it would reduce capex by 30% and lower cash operating expenses by 15%. Capital investments for 2020 are now expected to be about $23 billion, down …

Continue reading »