Category: Oil & Gas

SemGroup Reports Net Loss of $2.7 Million for 2Q 2018

Tulsa-based SemGroup Corporation reported a net loss of $2.7 million for the second quarter of 2018, compared to net loss of $33 million in the first quarter of 2018 and net income of $9.6 million in the second quarter of 2017. The improvement in quarter over quarter earnings is primarily due to lower income tax and …

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Unit Corporation Posts $5.8 in Net Income for Second Quarter of 2018

Tulsa-based Unit Corporation posted a net income of $5.8 million for the second quarter of 2018, according to a company press release issued on Wednesday. The results reported below include those attributable to Unit’s consolidated subsidiaries. Second quarter highlights include: Net income attributable to Unit of $5.8 million; adjusted net income attributable to Unit of …

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Panhandle Oil and Gas Posts $775 Thousand Loss for 2Q 2018

Oklahoma City-based Panhandle Oil and Gas reported a loss of more than $775 thousand for the second quarter of 2018. It translated to a loss of five cents a share, according to a company press release. Panhandle declared a loss of nearly $2.129 million on its derivative contracts for three months ending in June of …

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Shareholders Approve Merger of Williams Companies, Inc. and Williams Partners L.P.

Following a special meeting of shareholders on Thursday, the Williams Companies, Inc. and Williams Partners L.P. announced that Williams shareholders approved the merger transaction between the two companies. More than 99 percent of the Williams voting shares approved the merger and related amendment. The Williams shares voted represented approximately 82 percent of Williams’ total outstanding …

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Mammoth’s Acquisitions Are Leading to Increased Growth and Revenue

Oklahoma City-based Mammoth Energy Services, Inc. posted $42.7 million in net income for the second quarter of 2018. Total revenue was approximately $533 million for the three months ended June 30, 2018, according to a company press release. The company also announced plans to pay its first quarterly cash dividend of $0.125 per share of …

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Frac Map Technology Is Latest Diagnostic Tool Used In Energy Sector

Technological advances are being used more often as gamechangers in many industries today and the energy sector is no different. A Houston-based company is featuring a new platform that uses parallel processing with algorithms to determine fracture geometry for large, complex pad operations in multiple zones. Reveal Energy Services recently announced it is enhancing IMAGE …

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House Energy and Natural Resources Committee to Host Two Oil and Gas Interim Studies

The Oklahoma House of Representatives Energy and Natural Resources Committee will kick off the legislative interim studies by hosting a deep dive on two oil and gas topics in mid-August. The legislative committee will utilize the morning session to address municipal and state guidelines concerning oil and gas production within municipal boundaries. The committee will …

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Continental Posts $242.5 Million in Net Income for 2Q 2018 Results

Oklahoma City-based Continental Resources, Inc. announced second quarter operating and financial results on Tuesday, according to a company press release. The Company reported net income of $242.5 million, or $0.65 per diluted share, for the quarter ended June 30, 2018. The Company’s net income includes certain items typically excluded by the investment community in published estimates, the result of …

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Devon Releases August 2018 Investor Presentation

Oklahoma City-based Devon Energy Corporation recently released its August 2018 Investor Presentation. Key elements of the report focus on the following: Concentrated Activity in Delaware Basin and STACK Devon touts its multi-decade growth platform which features over 30,000 potential locations in the Delaware Basin and STACK area. Expanding Cash Flow The company intends to optimize …

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LINN Energy Finalizes Riviera Resources Spin-Off

Houston-based LINN Energy, Inc. announced it has completed the spin-off of Riviera Resources, Inc., according to a company press release issued Tuesday. OK Energy Today previously reported on April 20, 2018 that the company planned to split into two companies – Roan Resources, LLC and Riviera Resources, Inc. The announcement came a year after the …

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