May 2016 archive

Baker Hughes Rig Count: Oklahoma Adds Two Rigs Last Week

The U.S. rig count remained unchanged at 404, according to the Baker Hughes weekly rig count released on Friday. Leading the pack with the largest gain in North America, Oklahoma added two rigs last week, bringing the cumulative number of active rigs to 59. A year ago, Oklahoma had 106 rigs. Louisiana gained one rig …

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Oil Futures Slip on Friday, Remain Above $49 a Barrel

Oil futures closed out Friday on a lower note but continued to show a third-straight weekly gain, according to Bloomberg MarketWatch. July West Texas Intermediate crude slipped 15 cents, or 0.3%, to settle at $49.33 a barrel on Friday’s New York Mercantile Exchange. For the week, prices finished up roughly 1.9% based on the most …

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Completion Reports May 30, 2016

ALFALFA COUNTY Chesapeake Operating Llc 26 26N 11W Arlene 26-26-11 2h, May 11, 2016 HH, TA, TD: 10400 ft Lat: 36.70945, Long: -98.34893 API: 35003231860000 GRADY COUNTY Continental Resources Inc Woodford(14615): Oil 381 Gas 3131 Water 1098 Flow 7 5N 5W Moore 1-7h, April 05, 2016 HH, OIL, TD: 19463 ft Lat: 34.91414, Long: -97.77146 …

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Permits to Drill May 30, 2016

Kingfisher County DALMORE 1706 #4-17MH, May 27 2016 17 17N 6W NWNWNENW API: 07325305 Lat: 35.955700594649734, Long: -97.86690038991534 OKLAHOMA ENERGY ACQUISITIONS LP HH, DR, 12788 ft, MISSISSIPPIAN(7038) Muskogee County ALBERT #35-14C, May 27 2016 35 15N 15E SWNESESW API: 10122931 Lat: 35.72803358518553, Long: -95.68839278935526 J & J PRODUCTION COMPANY SH, DR, 2500 ft, BARTLESVILLE(735), BOOCH(1125), …

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ETE Seeks Merger Termination in Delaware Counterclaim as Dallas Case is Dismissed

Striking back against its antagonistic merger partner, Dallas-based Energy Transfer Equity, L.P. announced on Thursday that it recently filed its affirmative defenses coupled with a counterclaim in the Delaware Chancery Court lawsuit originally brought by The Williams Companies, Inc. on May 13. In the Delaware action, ETE also seeks a declaratory judgment allowing the company …

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WTI Oil Climbs Above $50 on Thursday for First Time Since July

Crude oil futures hit the key mark of $50 a barrel on Thursday before retreating lower as traders remained cautious due to global output concerns and excessive storage supplies, according to Bloomberg MarketWatch. For the first time since last July, West Texas Intermediate crude under the new July contract advanced to $50.21 a barrel before …

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Permits to Drill May 27, 2016

Custer County GRAHAM “F” #1, May 26 2016 30 15N 19W CSW API: 03921102 Lat: 35.74366796902711, Long: -99.26587245659083 MARATHON OIL COMPANY SH, RC, 11400 ft, MARMATON(10150) Kingfisher County HASTY 3-18-6 #1H, May 19 2016 03 18N 6W SWSWSESE API: 07325302 Lat: 36.058709122020595, Long: -97.82231107765456 CHESAPEAKE OPERATING LLC HH, AM, 11500 ft, BIG LIME(6171), OSWEGO(6192)  

US House Passes Energy Reform Bill—-Oklahoma Representatives Supported It

Environmentalists don’t like it but the U.S. House has approved a new version of the energy policy overhaul on a 241-178 vote that was along party lines. Oklahoma’s U.S. Representatives James Bridenstine, Tom Cole, Frank Lucas, Markwayne Mullin and Steve Russell were among the 241 who passed the bill that resurrects the Keystone XL pipeline …

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Boren Makes $200,000 Sale of Continental Resources Shares

In what is considered ‘legal’ insider trading, University of Oklahoma President David Boren sold 5,000 shares this week he had as a board of director member at Continental Resources. The May 20 sale, according to The Market Digest showed Boren sold the shares at $41.10 a share for a total value of $205,502. The sale …

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Harold Hamm Remains Oklahoma’s Richest Man Even after Losing More than $9 billion in 20 Months

Even after losing more than $9 billion over a year and a half period, Oklahoma oilman Harold Hamm, the man who founded and still runs Continental Resources remains the richest man in Oklahoma. He is still sitting pretty as he manages his vast fortune and empire. Forbes reports the $9.4 billion lost over the past …

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