Oil futures continued to show gains on Thursday as prices rise to their highest finish since 2015, according to Bloomberg MarketWatch. December West Texas Intermediate crude added 24 cents, or 0.4%, to settle at $54.54 a barrel on the New York Mercantile Exchange. January Brent crude, the global benchmark, rose 13 cents, or 0.2%, to finish at …
November 2017 archive
End of War on Coal Could Not Save Missouri Coal Company
Just declaring an end to the “war on coal” doesn’t mean coal companies no longer have to battle for survival. This week, Armstrong Energy based in Missouri but with big operations in western Kentucky filed for bankruptcy. It was the first coal company to enter into bankruptcy since President Trump took office nearly a year …
Governor Moves to Create Broadband Network for First Responders
Oklahoma Gov. Mary Fallin this week moved to create a broadband network for the state’s first responders. She signed an opt-in letter with FirstNet and ATT to strengthen public safety and increase emergency preparedness by making Oklahoma part of the National Broadband Network. “Today is a good day for Oklahoma as we opt in to …
Anadarko Reports Wider Than Expected Quarterly Loss
No wonder Anadarko Petroleum Corp.’s quarterly loss was wider than Wall Street expected. While the company blamed a loss on hedging and a jump in exploration expenses, the Houston-based company also reported it spent $565 million on dry holes in the third quarter,more than double what it spent a year ago. That’s a reflection how …
Wastewater Well Protester Discovers Mistake in KCC Permits
A Kansas resident fighting proposed wastewater injection wells has stumbled onto a mistake in permitting by the Kansas Corporation Commission. Cindy Hoedel of Matfield Green was poring over the requests of companies when she found the operators had not accurately informed nearby residents of their rights to protest the wells. Now the KCC is figuring …
Massive Water Well Project Announced in West Texas
A Houston area company has plans to drill more than 100 water wells in West Texas so it can sell water to oil companies in the Permian Basin. Layne Christensen is partnering with the state of Texas in the project. The deal is with the Texas General Land Office headed by George P. Bush and …
Republicans Pass Gross Production Tax Bill But Not One Wanted by Democrats
Under a bill offered and passed by Republicans in the Oklahoma House on Wednesday, gross production taxes on so-called Legacy wells would be increased from 4 percent to 7 percent, raising nearly 450 million in the last half of FY 18. House Bill 1085X would also raise another $100 million for the entire FY 19. …
Drop in 3Q Earnings Reported by Chesapeake Energy
Oklahoma City-based Chesapeake Energy reported a drop in third-quarter earnings on Thursday. The net loss to shareholders was $41 million or 5 cents per share from $1.2 billion or $1.62 cents a share a year earlier. Its bottom line rose to $106 million or $0.12 a share, higher than $73 million or $0.09 a share …
Oil and Gas Employment Slipped in OKC and Tulsa in September
Jobless rates in September improved across Oklahoma, slipping in 71 of the state’s 77 counties according to the latest employment report from the Oklahoma Employment Security Commission. But oil and gas employment fell in the state’s two major cities. Rates rose in five counties and were unchanged in one county compared to one year ago. …
SandRidge Announces Improved Efficiencies in Third Quarter Results
Oklahoma City-based SandRidge Energy Corporation reported a net loss of $8 million, or $0.25 per share, and net cash provided by operating activities of $44 million for the third quarter of 2017, according to a company press release issued Wednesday. When adjusting reported amounts for items that are typically excluded by the investment community on the basis that such …