May 9, 2016 archive

Crude Prices Tumble on Monday

Crude oil prices slipped as markets across the globe were more cautious than optimistic on Monday following the recent firing of a longstanding Saudi Arabian oil minister and despite waning fears of the Canadian wildfire aftermath, according to Bloomberg MarketWatch. June West Texas Intermediate crude plunged $1.22, or 2.7%, to end trade at $43.55 a …

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Completion Reports May 10, 2016

COAL COUNTY Bp America Production Company Woodford: Gas 1116 Flow 13 3N 11E Smalley 6-12h, March 16, 2016 HH, GAS, TD: 14499 ft Lat: 34.73726, Long: -96.09763 API: 35029213040000 ELLIS COUNTY Jones Energy Llc Cleveland(8432): Oil 200 Gas 632 Water 518 Pump 28 20N 24W Davis Trust 28 5h, June 12, 2015 HH, OIL, TD: …

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Permits to Drill May 10, 2016

Kingfisher County TULLAMORE 1706 #4-7MH, May 09 2016 07 17N 6W NESESWSE API: 07325295 Lat: 35.95733505267186, Long: -97.87682692562453 OKLAHOMA ENERGY ACQUISITIONS LP HH, DR, 12937 ft, MISS’AN (EX CHESTER)(7205) Nowata County SHERRY JACKSON #1, May 06 2016 10 25N 14E SWNESWNE API: 10541240 Lat: 36.66509064381911, Long: -95.79757950000077 MITCHELL JAMES D SH, DR, 1200 ft, SKINNER(790), …

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$775 million Pipeline Purchase by Phillips 66 Partners to be Finalized This Month

The pending purchase of the Standish Pipeline and other assets from Phillips 66 by Phillips 66 Partners is expected to be closed in the next few weeks. The $775 million was announced last week. The Standish Pipeline runs from Phillips 66’s Ponca City refinery in northern Oklahoma to the Phillips 66 Partners’ North Wichita Terminal …

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Blueknight Energy reports Increased Quarterly Earnings

  Oklahoma City-based Blueknight Energy Partners L.P. says its first quarter earnings totaled $13.6 million, an increase from the $12.9 million reported in the first quarter of 2015. The $13.6 million was before interest, taxes, deprecation and amortization. The cash flow was $8.6 million for the three months that ended March 31, 2016 compared to …

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Bankruptcy Leads to New Owner of Oilfield Waste Disposal Company

  The recent Chapter 11 bankruptcy by oilfield waste disposal company CCNG Energy Partners, LP has led to the firm being scooped up by Trinity Acquisition LLC of Austin, Texas. CCNG had assets located throughout Texas and New Mexico but they were acquired after the firm filed Chapter 11 bankruptcy. The assets include 27 saltwater …

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Law Firm Predicts More Oil and Gas Bankruptcies are Looming

    The number of North American oil and gas producers that have entered bankruptcy court since the beginning of 2015 is up to at least 69, according to the Texas law firm Haynes and Boone which focuses on such legal matters. The company says the bankruptcies, including Chapter 7, Chapter 11, Chapter 15 and …

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Halliburton to Redeem $2.5 billion in Outstanding Notes

A week after breaking off its merger agreement with Baker Hughes, Houston-based Halliburton Company announced it will also redeem the entire outstanding principal amount of $2.5 billion in its 2.700% Senior Notes due March 2020. The offer also includes its 3.375% Senior Notes due in March 2022. The redemption date for the Notes is May …

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State House Speaker Agrees—-It’s Time to Cut CNG Tax Credit

  Oklahoma Speaker of the House Jeff Hickman (R-Fairview) agrees that the tax credit created several years ago to help the then-struggling CNG industry get off the ground in Oklahoma should be cut because of the state’s budget crisis. “I don’t think it will have a major impact,” said Rep. Hickman, in an interview with …

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Three State Airports Share $800,000 in State Airport Grants

Improvements are expected to begin soon at various airports around the state because of $800,000 in grants from the Oklahoma Aeronautics Commission. The grants for West Woodward Municipal Airport, Anadarko Municipal Airport and Clinton Municipal Airport come from the Commission’s three-year Capital Improvement Program or Construction Program. “Our local airports are gateways to the world …

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