“I know this might have caught some of our investors and some of you guys by surprise.” Bill Berry, CEO Continental Resources While leaders of Oklahoma’s Continental Resources were excited about their firm’s $3.25 billion deal to acquire Pioneer Natural Resources assets in the Permian Basin, investors had another thought. After word was …
November 5, 2021 archive
Rig numbers grow in Oklahoma and the US
The number of oil and gas rigs is on the increase in Oklahoma. Even if it was only by one rig in the past week, the latest Baker Hughes report showed Oklahoma’s oil and gas activity increased to 44. Nationally, there was a 6 rig increase in the past week as the US count …
Southwestern Energy makes $1.8 billion acquisition in Haynesville
Southwestern Energy Company expanded its operations into the Haynesville with a $1.85 billion acquisition of GEP Haynesville, LLC. GEP is the third largest private Haynesville producer and the transaction is expected to close by the end of the year. The deal means 700 MMcf a day of production for Southwestern Energy. It also expands …
Mullin bills pass Energy and Commerce Health Subcommittee
A House Energy and Commerce Health Subcommittee recently passed two bills sponsored by Congressman Markwayne Mullin. They were his H.R. 3320, the Allied Health Workforce Diversity Act and H.R. 5487, the Stillbirth Health Improvement and Education (SHINE) for Autumn Act, passed by voice vote and will be reported to the full committee for consideration. The Allied Health Workforce …
Improved earnings along with losses for Mammoth Energy
The day after Mammoth Energy Services, Inc. suffered a 22% drop in trading of its shares, the Oklahoma City company revealed third quarter financial earnings were up but so were its losses. The firm reported total revenue of $57.5 million compared to $70.5 million from a year earlier and also more than the $47.4 …
New Mexico’s Democratic Gov. upbeat about climate summit
New Mexico’s Gov. Michelle Lujan Grisham says she is “energized” after taking part in the COP21 climate change summit in Glasgow, Scotland. While her state rakes in millions every year from its share of Permian Basin oil and gas production, the Democratic governor leads New Mexico’s climate change efforts, including more restrictions on the …
Sens. Inhofe and Lankford split support on 2 more Biden nominees
At least one Biden nominee got the support of Oklahoma Sens. Jim Inhofe and James Lankford. He was Michael Connor who was confirmed on a 92-5 vote as Assistant Secretary of the Army for Civil Works overseeing the regulatory and infrastructure programs at the Army Corps of Engineers. As such, he will be in …
Energy headlines for Monday
** West Virginia Democratic Sen. Joe Manchin rejected the way his party has approached climate change and China amid the gridlock over President Biden’s Build Back Better spending plan. He pointed out China has 3,000 coal plants while the US has 500. “My environmental friends will make you believe…that the 500 are polluting the whole world,” Manchin said. …
Pioneer heads toward minimal hedging
After selling its Delaware Basin assets to Oklahoma City’s Continental Resources in a $3.25 billion deal, Pioneer Natural Resources indicated it will minimize its hedging in the coming year. Reuters reported Pioneer’s Chief Executive Officer anticipates oil prices to be between $80 and $100 a barrel in the next several years. Click here for …
Midwest governors seek authority to let E15 be sold year-round
Eight Midwest Governors want the Biden administration to let gasoline with a 15% ethanol blend be sold year-round in their states. Their request comes after a federal appeals court last summer struck down a 2019 rule allowing year-round E-15 sales nationally reported Radio Iowa. The letter was signed by Govs. Kim Reynolds of Iowa, …
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