Not only is ConocoPhillips revising for a second time its capital spending budget for 2020, but the company is cutting oil production and suspending a share repurchase program. Eighteen years after Phillips merged with Conoco and moved its headquarters from Bartlesville to Houston, the company said the actions are in response to the oil market …
As unemployment figures continue growing in Oklahoma, many laid off in the energy industry, the Oklahoma Employment Security Commission has taken steps to reduce wait times and increase the training of some of its service agents. The OESC announced the increased training is for its Tier 2 claims services agents who handle the more complex …
A review of the South Texas drilling permits issued recently shows Oklahoma City’s Chesapeake Energy plans to move ahead with its oil exploration plans. The company recently obtained two drilling permits for Burleson County with each of the wells to be drilled at a depth of 9,000 feet. Caldwell is the county seat. The …
Houston’s Noble Energy has joined the list of those firms making deeper spending cuts and lowering salaries of its executives by up to 20% as the COVID-19 pandemic continues gripping the world, reducing travel and demand for travel by air and car. The company said it’s cutting 2020 capex by another $350 million to a …
Continental Resources Inc. founder Harold Hamm told Texas oil regulators he expects neighboring Oklahoma to adopt crude-production limits in a bid to bolster energy prices. Hamm’s comments came during a marathon hearing Tuesday of the Texas Railroad Commission on whether to enact quotas amid the worst crude-market crash on record. Oklahoma, the fourth-largest U.S. …
Here’s how bad Oklahoma’s oil and gas sector has been hit. February was the 16th straight month of declining activity. As the Petroleum Alliance of Oklahoma noted this week, activity in the industry was down again in February with the Oklahoma Energy Index dropping 1.4% from January. The worst of the COVID-19 related news didn’t …
When a company like Phillips 66 Partners suspends development of a pipeline to carry crude from Wyoming to Cushing, Oklahoma, it isn’t just a matter of deciding not to proceed with the work. You have to do something with all that pipe manufactured and bought for the Liberty Pipeline. In this case, much …
