Completion reports filed on October 1, 2020. CARTER COUNTY Citation Oil & Gas Corporation Penn Sand(1137): Oil 1 Water 63 Pump 15 2S 2W Cox Penn Sand Unit 203, December 21, 2018 SH, OIL, TD: 1395 ft Lat: 34.38551, Long: -97.40405 API: 35019261510002 Citation Oil & Gas Corporation Penn Sand(1137): Oil 1 Water 63 Pump 15 2S 2W Cox Penn Sand Unit 203, December …
October 2020 archive
U.S. pipeline companies hit by weak demand offer enticements to keep shippers
U.S. pipeline companies are sweetening terms in a competition to keep producers using their lines as the industry downturn caused by the coronavirus pandemic means there is less oil to transport. Tulsa-based Magellan is one of them. The pandemic has ended a boom in U.S. shale production which had prompted a rapid expansion in …
U.S. oil producers on pace for most bankruptcies since last oil downturn
Oasis Petroleum Inc and Lonestar Resources US Inc’s bankruptcy filings are the latest in a slew of restructurings that put oil-and-gas producers on track for their biggest year of bankruptcies since the 2016 shale downturn. Thirty-six producers with $51 billion in debt filed for bankruptcy protection in the first eight months of the year, …
Top U.S. oil refiner Marathon Petroleum to lay off 12% of workforce
Marathon Petroleum Corp , the largest U.S. oil refiner, said it would lay off about 2,050 employees, or 12% of its workforce, at its U.S. operations, excluding Speedway, as the COVID-19 pandemic crushed global demand for motor fuels. The workforce reduction plan is a result of indefinite idling of its Martinez, California and Gallup, …
Senior Management Changes at Basic Energy Services
Texas-based Basic Energy Services, Inc. announced the resignation of CFO David Schorlemer in order to pursue other interests. He will remain as the company’s Executive Vice President, Chief Financial Officer, Treasurer and Secretary until October 9, 2020. “On behalf of the Board of Directors and the entire Company, I’d like to express our thanks to David …
Black Bear Transmission Completes Divestiture of Ozark Gas Gathering Assets
Houston-based Black Bear Transmission LLC announced that it has completed the divestiture of all the assets owned by Ozark Gas Gathering, L.L.C. to an undisclosed buyer, according to a company press release issued on Wednesday. This divestiture follows two bolt-on acquisitions completed by Black Bear this year – the purchase of the Ozark Gas Transmission …
KPMG’s Manny Fernandez Appointed to HollyFrontier Board of Directors
Dallas-based HollyFrontier Corporation announced that Manny Fernandez will join its Board of Directors effective October 1, 2020, according to a company press release. Prior to his appointment, Fernandez was employed by KPMG LLP for more than 15 years and served in a number of leadership positions until his retirement in September 2020. Most recently, Fernandez …
OCC Discusses Oil & Gas Deputy Director Vacancy
The Oklahoma Corporation Commission meeting held on Wednesday was contentious as the commissioners discussed hiring a deputy director for the Oil and Gas Conservation Division. According to a report published by Janice Francis-Smith in The Journal Record, Vice-Chairman Bob Anthony offered recommendations to fill the vacancy but Chairman Todd Hiett and Commissioner Dana Murphy did …
