It’s never happened previously….oil prices went into negative territory on Monday and sellers were paying buyers to take it off their hands. Observers called it jaw-dropping as prices for West Texas Intermediate crude actually hit minus $40.32 a barrel. Blame it on the coronavirus pandemic which left the U.S. economy at a standstill and so …
Oklahoma Corporation Commissioners will meet Wednesday to possibly vote on a request for an emergency order sought by Tulsa oil company LPD Energy LLC to force a reduction in oil production in the state. The request filed earlier in the month by LPD contends the sale of crude oil at current prices is a “waste” …
Midship Pipeline Company, LLC announced Monday that it has received full final approval from the Federal Energy Regulatory Commission to place Midship Pipeline into service stretching from Kingfisher to the state line. The 234-mile pipeline is designed to move natural gas from Oklahoma’s Anadarko Basin to the Gulf Coast and southeast markets and beyond. Midship …
Four years after a proposed merger of Tulsa-based Williams Cos. with Energy Transfer of Dallas flopped before the two could even get to the altar, a court battle is still underway. And the accusations are flying, including some serious claims against Williams’ CEO Alan Armstrong. Samantha Hafermann, writing for The Well News detailed the progress …
U.S. Sen. Jim Inhofe applied more pressure this week on Commerce Secretary Wilber Ross to push ahead with his investigation of the anticompetitive practices of Russia and Saudi Arabia which resulted in a glut of oil and an energy crisis. He also urged the adoption of more tariffs suggesting it was done to influence China …
** A small earthquake was recorded Saturday morning in Woodward County in northwest Oklahoma. The Oklahoma Geological Survey said it was a 1.5 magnitude quake at 6:40 am. ** San Antonio-based NuStar Energy L.P.announced that it has entered into a $750 million unsecured term loan agreement with funds managed by Oaktree Capital Management, L.P. to strengthen …
Just as rig activity in Oklahoma’s prolific STACK and SCOOP plays has dwindled, the number of rigs being put aside in the nation’s highest producing play, the Permian Basin is suffering too. The boom has gone bust. In New Mexico’s southeast corner, the pain is evident as discovered in a recent report by the Santa …
ConocoPhillips is reported to be one of the three main companies accounting for more than half of the cuts in oil production this year in the U.S. and Canada. The two others are Chevron Corp. and Occidental Petroleum Corp according to an analysis by Reuters but the cuts announced by CoocoPhillips are the biggest. Oil and …
Chaparral Energy in Oklahoma City announced this week the departure of two of its vice presidents. One was Scott Pittman, a Senior Vice President and Chief Financial Officer who according to a Chaparral Energy filing with the Securities Exchange Commission “resigned—to pursue other interests.” His departure was on Friday, April 17, 2020 and the filing …
Oklahoma City’s SandRidge Energy is trimming its workforce even more as it filed notice with the state to lay off another 7 workers this week, this after announcing the layoff of 26 workers last week. It easily raises the question—what’s left at the company? Company leaders admit they’re at a loss as to what …
