Category: Oil & Gas

National Rig Count Plunges by 21, No Loss in Oklahoma Count

While Oklahoma’s oil and gas rig count remained steady at 102 this week, the national count plummeted by 21 to reach 991, with all but one being land rigs. Compared to a year ago, the U.S. count is 30 less than the 1,021 reported last year. Results from Baker Hughes Co. and the Independent Oil …

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Jason Pigott to Succeed Randy Foutch as President of Laredo Petroleum

Tulsa-based Laredo Petroleum Inc. announced Wednesday it has named Mikell “Jason” Pigott as its new president and company director. Pigott joins Laredo effective May 28. Pigott served as an executive vice president at Chesapeake Energy Corporation, where he oversaw operations and technical services. Prior to his employment with Chesapeake, Pigott worked for Anadarko Petroleum for …

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CenterPoint Energy Reports Annual Meeting Voting Results

Houston-based CenterPoint Energy, Inc. announced the results of shareholder voting at its 2019 Annual Meeting held on Thursday, according to a company press release. Shareholders approved the following three proposals: The election of Leslie D. Biddle, Milton Carroll, Scott J. McLean, Martin H. Nesbitt, Theodore F. Pound, Scott M. Prochazka, Susan O. Rheney, Phillip R. …

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Anadarko Petroleum Receives Offers From Chevron and Occidental

Chevron isn’t the only suitor interested in acquiring Texas-based Anadarko Petroleum Corp. It appears that Houston’s Occidental Petroleum Corp. has sweetened the deal, offering $76 per share, well over Chevron’s $65 per share. Here’s where the game of “connect the dots” gets interesting. Back in 2006, Anadarko Petroleum acquired Oklahoma City-based Kerr-McGee Corporation. A relationship …

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Plains All American Pipeline Fined $3.3 Million for California Disaster

A pipeline company with Oklahoma ties was slapped with a $3.3 million fine on Thursday for a 2015 oil pipeline rupture that contaminated beaches along the California coast. Federal inspectors determined that Houston-based Plains All American Pipeline “made several preventable errors, failed to quickly detect the pipeline rupture and responded too slowly as oil flowed …

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Widow Alleges Patterson-UTI Acted Negligently in Amended Pleadings

A widow has amended her legal petition in Pittsburg County to blame another party in the January 22 drilling rig explosion in Quinton, according to an article published by The Journal Record. Dianna Waldridge is suing Red Mountain Operating and other contractors, including Patterson-UTI Drilling Co., alleging they acted negligently and contributed to the death …

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Williams Completes Sale of Gulf Coast Pipeline Components to Easton Energy LLC

Tulsa-based Williams announced the sale of pipeline systems located in the Gulf Coast area to Easton Energy LLC for $177 million in cash. The sale closed on November 30, 2018, according to a company press release issued on Thursday. The 31-mile Texas Belle Pipeline, which transports natural gas liquids from Mont Belvieu to customers along …

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Texas-based Vecta Acquires Polaris Services LLC

Weatherford, Texas-based Vecta Environmental Services, LLC has acquired Polaris Services, LLC, a privately-owned local hydro-excavation company, according to an announcement issued Wednesday by Cotton Creek Capital. Terms of the disclosure remain undisclosed. The merger of Vecta and Polaris provides Vecta with increased scale and capabilities complimenting its full suite of industrial service offerings to chemical, …

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Crude Oil Inventories Drop First Time in 11 Weeks

Crude oil inventories have declined for the first time in 11 weeks as record shipments of crude oil to foreign markets made the United States a next exporter of petroleum products for the first time in nearly 70 years, according to a report in Fuel Fix. U.S. commercial crude oil inventories declined by 7.3 million …

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Houston Appellate Court Strips $2.6 Million Judgment from Oil Platform Worker

In Houston, a state appellate court reversed a $2.8 million jury verdict rendered by the Texas Court of Appeals, according to a news report in Business Insurance on Tuesday. Luke Meyers was working on an oil and gas platform off the Louisiana coast in May of 2011 when a crane cable snapped and caused a …

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