April 8, 2020 archive

Completion reports for April 8, 2020

Completion reports filed on April 8, 2020. CUSTER COUNTY Citizen Energy Iii Llc Mississippian: Gas 4983 Water 496 Flow 24 14N 15W Morgandy 1h-25-36, June 04, 2019 HH, GAS, TD: 25475 ft Lat: 35.66804, Long: -98.74807 API: 35039225420000 GRADY COUNTY Continental Resources Inc Mississippian(14079): Oil 344 Gas 3493 Water 2322 Flow 36 6N 6W Farms 6-36-25xhm, December 06, 2019 HH, OIL, TD: 21010 ft Lat: …

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Permits to drill for April 8, 2020

Permits to drill issued on April 8, 2020. Canadian County JENSEN #1H-8, April 08 2020 08 11N 8W N2NENWNW API: 01725618 Lat: 35.448724377564744, Long: -98.07532845819948 CITIZEN ENERGY III LLC HH, DR, 22230 ft, WOODFORD(11700)

Oil prices rebound in trading as OPEC prepares to meet

  A day after slipping, the price of oil in the U.S. and overseas was up reaching $25.09 a barrel for West Texas Intermediate crude. It was a gain of $1.46 on Wall Street while in London, Brent crude rose $1.79 to reach $33.60 per barrel. The favorable response on Wall Street came a day …

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Continental suspends dividends

  Oklahoma City’s Continental Resources Inc. has suspended its quarterly dividend because of what it calls the “demand destruction” caused by COVID-19 pandemic. In an announcement this week, Bill Berry, Chief Executive Officer said the company will continue taking “decisive” action to maximize cash flow generation, accomplish cost savings initiatives and prioritize the strength of …

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Wind farm developer interested in merger with Evergy in Kansas

  Reports suggest that NextEra Energy, the Florida-based firm with numerous wind farm operations throughout Oklahoma might be in the hunt to acquire Kansas City-based Evergy. Other utility giants are also said to be interested in such an acquisition including American Electric Power, parent of PSO in Oklahoma and St. Louis-based Ameren. One report indicated …

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Democrats fight relief sought by Reps. Cole and Hern

Democrats in the U.S. House have come out against a request made by 30 Republican Representatives, including Oklahoma Reps. Tom Cole and Kevin Hern to provide royalty relief for oiol and gas producers drilling on federal lands during the coronavirus crisis. Led by Natural Resources chairman, Rep. Raul Grijalva of Arizona, the Democrats have urged …

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Oil storage filling up amid collapsing demand, excess production

  The mad rush is underway. Oil drillers are trying to find places to store oil and the Cushing tank farm is reported to be quickly filling up. S and P Global Market Intelligence published a recent assessment of the situation, pointing out that Permian Basin shale drillers “now face a once-unimaginable threat—there could soon …

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Energy news in brief

** The city council in Iowa City rejects a proposed lease agreement for a MidAmerican Energy solar project due to residents’ conservation concerns. ** Electric truck startup Rivian delays the launch of two models as the coronavirus causes a production slowdown at the company’s Illinois plant. ** An Ohio-based electric vehicle startup receives a letter of intent from a Florida company seeking to order …

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PSO asks regulators for approval of lower electric bills

Customers of Public Service Company of Oklahoma might soon see reduced electric bills as PSO applied with the Corporation Commission to reduce its monthly fuel cost recovery on bills. In a Wednesday announcement, PSO said the request is due to lower costs for purchased power and the fuel to generate electricity. The utility submitted a request …

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Summary of oil picture in the U.S.

The Energy Information Administration Tuesday released a sharp downward revision to its U.S. crude oil production forecast. Declines are now projected to be deeper and begin faster than the prior forecast issued less than a month ago, as the chart above shows. EIA now sees U.S. crude oil production falling to an average of 11.76 million barrels …

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