After 70 years of being headquartered in El Dorado, Arkansas, Murphy Oil is moving to Houston. And last week’s decision has left the city devastated. Click here to view Associated Press report.
May 11, 2020 archive
Companies ponder question of how to restore oil production
Just because U.S. and Canadian oil producers, including those in Oklahoma have shut-in as much as 4.5 million barrels of oil a day doesn’t mean they’re sitting idly around. They’re already planning how to resume production when that time comes. In Oklahoma and the U.S. companies have announced plans to stop more than 600,000 barrels …
$186 million in 1Q losses reported by Continental Resources
Continental Resources, Inc. announced first quarter 2020 operating and financial results with a net loss of $185.7 million or 51 cents a diluted share. The company wrote down $222.5 million in property impairments for the quarter compared to $25 million a year ago. “This has been an unprecedented global market environment, which has seen …
Mammoth Energy reports loss in 1Q
Mammoth Energy Services reported an increase in total revenue for the first quarter of 2020 but also an increased net loss of $84 million or $1.85 per fully diluted share. It was a $24 million dollar increase in net loss compared to the end of the previous quarter on December 31, 2019. Company leaders don’t …
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