Oklahoma City-based LSB Industries, Inc. recently announced a net loss of $17.7 million, or 70 cents per diluted share for the second quarter of 2016, according to the company’s press release. The company reported sales of $110 million in the second quarter, down from $125.5 million from the same quarter a year ago. Capital spending …
August 14, 2016 archive
Oklahoma Energy Index Posts Positive Increase, First Since 2014
The Oklahoma Energy Index posted positive growth for the first time nearly two years, according to a report by the Tulsa World. A comprehensive measure of the state’s oil and natural gas industry activity, the Energy Index rose to 157.6, a 3.2 percent increase from the previous month’s reading. The Energy Index is a joint …
Magellan Completes New Pipeline From Fort Smith to Little Rock, Arkansas
Tulsa-based Magellan Midstream Partners, L.P. has successfully completed a $200 million, 210-mile Arkansas pipeline extension project connected to refineries in Oklahoma, Kansas and the Gulf Coast, according to a Journal Record report. “There are periods of time during the year when (those) refineries produce the lowest-cost gasoline in the region, and so now they’ll have …
New Mexico Underground Waste Dump May Reopen in December
The U.S. Department of Energy is highly confident that the nation’s sole underground nuclear waste dump will reopen in December, according to a story posted on the website of News9.com. The Waste Isolation Pilot Plant is located 26 miles east of Carlsbad, New Mexico. The site, known as WIPP, is the world’s third deep geological repository …
Baker Hughes: Rig Counts Jump in the Texas Permian Basin
The number of active U.S., Canadian and international rigs surged dramatically this week, according to the Baker Hughes rig count released on Friday. The U.S. rig count rose by 17 to reach 481 active rigs after hitting a record low of 404 in May. Overall, the U.S. is down 403 rigs from last year’s figures. …
WTI and Brent Crude Post Best Weekly Gains Since April on Friday
Bolstered by Saudi Arabia’s eagerness to rebalance the market, oil futures snapped back from a recent slump on Friday by posting their best gains since April, according to Bloomberg MarketWatch. September West Texas Intermediate crude rose $1, or 2.3%, to end trading at $44.49 a barrel on the New York Mercantile Exchange, representing its highest …
Permits to Drill August 15, 2016
Blaine County HEROD FIU #1-8-5XH, August 12 2016 08 16N 12W S2SESWSE API: 01123636 Lat: 35.8709324218809, Long: -98.49605710625625 CONTINENTAL RESOURCES INC HH, DR, 20813 ft, MISSISSIPPIAN(11036) Blaine County GLENWOOD PEARL FIU #1-19H, August 12 2016 19 16N 12W NWSESWSE API: 01123635 Lat: 35.84229817693606, Long: -98.514114533319 CONTINENTAL RESOURCES INC HH, DR, 15857 ft, OSWEGO(8590), MISSISSIPPIAN(11442), HUNTON(11700) …
