May 18, 2020 archive

Completion reports for May 18, 2020

Completion reports filed on May 18, 2020. HUGHES COUNTY Trinity Operating Usg Llc Woodford(4766): Gas 3294 Water 1584 Flow 5 7N 12E Mitzi 3-32/29h, October 25, 2019 HH, GAS, TD: 15460 ft Lat: 35.11508, Long: -96.06046 API: 35063248990001

Permits to drill for May 18, 2020

Permits to drill issued on May 18, 2020. Stephens County EAST VELMA PERMIAN UNIT #27, May 18 2020 36 1S 5W E2E2NENW API: 13723602 Lat: 34.4324833807367, Long: -97.6766087253238 CITATION OIL & GAS CORPORATION SH, RC, 1125 ft, PERMIAN(340)

Oil jumps 8% to two-month high above $31

West Texas Intermediate for June delivery jumped more than 8% on Monday, one day ahead of the contract’s expiration, as production cuts and the easing of stay-at-home restrictions supported prices. The contract did close below its highest levels of the day, however, after earlier gaining more than 13%. The futures contracts expire Tuesday and apparently production cuts …

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Federal Reserve bank offers little optimism about Oklahoma’s economy

      It’s far from a pretty picture when the Kansas City Federal Reserve Bank looks at the economic condition of Oklahoma. In a snapshot of the state’s economy, the Oklahoma City Branch said the COVID-19 and the collapse in oil prices “presented significant challenges for the state economy, as tax collections decreased and …

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SandRidge reports $13 million 1Q loss and sale of its downtown OKC headquarters building

  Oklahoma City’s SandRidge Energy, struggling and resorting to layoffs reports first quarter 2020 losses totaling $13 million or 36-cents a share and confirmed it has sold its downtown headquarters building, providing enough capital to keep bankruptcy wolves at bay. And the new owner is reportedly the State School Land Commission. SandRidge said after adjusting …

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Some of the cheapest gasoline in the nation is in Oklahoma

  With the Memorial Day weekend just a few days away, Oklahomans are seeing the second lowest gas prices in the nation at $1.52-a-gallon average. But what is typically the start to the summer travel surge is very different this Memorial Day due to COVID-19 concerns according to AAA Oklahoma. The national gas price average is $1.87, a …

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Energy news in brief

** Ameren Missouri joins a small group of utilities tying a portion of top management bonuses to the company’s progress on clean energy. ** The U.S. solar industry has lost 65,000 jobs due to the pandemic, erasing five years of job gains, according to an industry group’s analysis. ** As oil production declines in North Dakota, two test wells have been drilled for potential …

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Belgium company shuts down Tulsa manufacturing plant

The Belgium-based corporate owner of Cytec Industrial Materials Inc. located in Tulsa is closing the plant, blaming lower customer demand from COVID-19. Cytec is a manufacturer of composite materials used in the manufacturer of planes for Boeing and Airbus. The corporate owner, Solvay based in Brussels made the announcement indicating the Tulsa plant and one …

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Employees wait to learn if JC Penney stores in Oklahoma will close

Employees of the 12 J-C Penney stores in Oklahoma await word whether any of those places will be closed as part of the company’s bankruptcy announced over the weekend. As part of the Chapter 11 bankruptcy filing, the debtor in possession of the loans to the company is requiring that 150 to 250 locations be …

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Fracking jobs few and far between in Oklahoma and rest of US

Rock bottom demand for hydraulic fracturing services in the shale plays in Oklahoma and across the rest of the U.S. is expected in May and stay that way until the fall according to a new report by Norwegian global energy research firm Rystad Energy. Fracking jobs in the Anadarko basin are down to an estimated …

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