April 17, 2020 archive

Schlumberger prepares for possible layoffs

  In releasing its first quarter revenues of the year, Schlumberger reported a 9% drop from the fourth quarter of 2019 with worldwide revenue of $7.5 billion. It expects things to worsen and is preparing for company layoffs. When and where and if in Oklahoma wasn’t indicated. The company said its international revenue of $5.1 …

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Hard to imagine..only 24 oil and gas rigs active in Oklahoma

  The oil and gas rig counts in Oklahoma and other states are falling as quickly as workers can lower the rigs and put them into storage. The Baker Hughes county released on Friday showed only 24 rigs are active in Oklahoma, down two in the past week. The oil crisis caused by the coronavirus …

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Tribes attempt to stop construction of Keystone XL Pipeline

A federal judge in Montana has heard from Native American tribes and environmental groups asking to shut down work on the Keystone XL pipeline from Canada to Nebraska. The groups contend they fear the spread of coronavirus by workers and believe construction will damage the land. After years of delays, the company is rushing ahead …

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Corn growers pick fight with OK Gov. Stitt over biofuels

  A request of the EPA by Oklahoma Gov. Kevin Stitt and four other governors for a biofuels waiver for small refineries has sparked a growing battle with corn growers and environmental groups. The corn-growing industry is adamantly against the request to suspend the regulatory requirement of blending billions of gallons of corn-based ethanol into …

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Governors ask for biofuels waivers for small refineries

Oklahoma Gov. Kevin Stitt was one of five Governors to ask the Trump administration this week for a nationwide waiver exempting the oil-refining industry from the nation’s biofuels law to help oil and gas operators survive the oil crisis caused by the coronavirus pandemic. “As our country comes to grips with this national emergency, continuing …

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Mach wraps up acquisition of bankrupt assets in Kingfisher County

Oklahoma City-based BCE-Mach III LLC wrapped up its acquisition of the upstream assets of Alta Mesa Holdings, LP and its subsidiaries and the midstream assets of Kingfisher Midstream LLC  in Kingfisher County Oklahoma. Word was announced this week but Mach Resources and its partner did not reveal how much they paid for the assets from …

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Supreme Court to hear Governor’s fight with legislators

The budget fight between Gov. Kevin Stitt and Republican leaders of the legislature, spurred when the legislature cut funding for his digital transformation effort is headed to the Oklahoma Supreme Court on Monday. When legislators cut funding, the governor delayed a meeting of the state Board of Equalization which meant there was no approval of …

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Missouri city offers $1 billion in incentives for Tesla Cybertruck factory

Joplin, Missouri is intent on landing Tesla’s proposed Cybertruck plant and it’s offering an estimated $1 billion package to the company. The city that attracted national attention when tornadoes hit Joplin in 2011 leaving more than 100 dead is back with a positive effort this time. Tesla CEO Elon Musk tweeted in March that the …

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Southeast Kansas to get wind farm

  Far Southeast Kansas is about to get a wind farm operation even though some residents are against the project in Crawford and Bourbon Counties near cities such as Pittsburg and Girard. Crawford County Commissioners have approved the renewable energy project which is in development by Apex Clean Energy, Inc., a firm with operations it …

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Ovintiv finds more producers in the STACK

Tulsa’s Ovintiv Mid-Continent Inc. continues seeing success with its series of multi-wells drilled from single pads in Oklahoma’s STACK play. The latest is three sister wells with production of nearly 2,000 barrels of oil a day while two wells near Kingfisher produced a thousand barrels of oil a day. The company filed completion reports on …

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