September 7, 2018 archive

Nation’s rig count remained steady while the number dropped in Oklahoma

While the nation’s oil and gas rig count remained unchanged, the number of active rigs in Oklahoma slipped by 2 to reach 137. Figures from Baker Hughes Co. show a national count of 1,048, same as a week ago. But the new figures show a drop of 2 oil rigs to 860 while the number …

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US crude inventories down to lowest level in 3 years

While crude inventories fell by more than 4 million barrels in the last week of August, stocks at the Cushing, Oklahoma hub for U.S. crude futures rose by 549,000 barrels. The U.S. Energy Information Agency reported the drop in inventories was 4.3 million barrels in the week to Aug. 31, far more than the 1.3 …

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Democrat Edmondson wants higher tax on oil and gas production in Oklahoma

Democratic candidate for governor Drew Edmondson wants to raise taxes in Oklahoma and that includes returning the state’s gross production tax on oil and gas to 7 percent. In announcing his plan during a state capitol news conference with former OU President David Boren at his side, the former state attorney general also said he …

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Denver well drilling raises a money issue in Colorado

While Colorado prepares to vote in November on a proposed increase of the mandatory setback of oil and gas rigs from homes and businesses, the city of Denver finds itself in a quandry—of sorts. Several drilling companies have filed plans to drill south of the Denver International Airport and the eastern side of Aurora. Plans …

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Feds reach deal to keep Rio Grande flowing in New Mexico

A $2 million lease to keep the Rio Grande river flowing through Albuquerque, New Mexico has been reached between federal water managers and a major utility. The lease was approved recently by the board of the Albuquerque Bernalillo County Water Utility Authority and will provide the U.S. Bureau of Reclamation with more water to preserve …

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Pioneer Natural Resources to release earnings report

Dallas-based Pioneer Natural Resources Company, a firm that owns a gas processing plant and operates more than 700 wells in the Texas Panhandle plans to release its third quarter earnings report in November. The company said the release date will be Tuesday, Nov. 6 after the closing of trading on the New York Stock Exchange. …

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Cheniere prices $1.1 billion in offering of senior notes

Houston’s Cheniere Energy Partners, L.P., the firm building a new 200-mile pipeline carrying gas out of Oklahma’s STACK and SCOOP plays has priced an offering of more than $1 billion in Senior notes. The company said the $1.1 billion in Senior Notes due 2026 will bear interest at a rate of 5.625% per annum and …

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