North Dakota plans to spend $66 million to plug wells abandoned by oil and gas companies in the U.S. state after the pandemic crushed demand for crude, causing a plunge in prices. The $66 million has come from the Federal Coronavirus Aid, Relief, and Economic Security (CARES) Act, said Katie Haarsager, a spokeswoman for …
“We’re okay now. We’re back. We’re back.” The message President Donald Trump delivered to the oil and gas industry Wednesday when he stood in front of stacked oil barrels and spoke in Midland, Texas—heart of the Permian Basin. Speaking to a crowd scattered with those wearing cowboy hats and face masks, he contrasted his …
As U.S. government data showed a more than 10-million-barrel weekly decline in U.S. crude, despite a slight increase at Cushing, Oklahoma, oil futures ended higher. The decline in crude storage was the largest so far this year and as a result, West Texas Intermediate crude for September delivery rose 23 cents or 0.6% to …
The OERB has canceled its 2020 Oklahoma Oil and Gas Expo because of the COVID-19 pandemic. The organization said it was canceled “to protect the health and safety of exhibitors and attendees.” Originally set for October 15th, the annual event hosted by a committee of the Oklahoma Energy Resources Board (OERB) is the largest …
Energy leaders in northeast Oklahoma joined this month with city leaders in Tulsa and four state senators in asking the Oklahoma Corporation Commission to do something about what they perceive to be an understaffing of the Commission’s Tulsa offices. In a July 8 letter, Lieutenant Gov. Matt Pinnell, Tulsa Mayor G.T. Bynum and Senators …
The sigh of relief you hear might be coming from those in the oil and gas industry who thought New York Democratic Congresswoman Alexandria Ocasio-Cortez’ bill to block the Army Corps of Engineers from issuing water permits for oil and gas lines would be successful. It won’t. POLITICO reports the House Rules Committee voted …
Legislators in Wyoming are pushing a plan to offer more tax relief to the struggling oil and gas industry, a plan that includes spurring more mineral production and capital investment in the state. The Casper Star Tribune reported a legislative committee passed a bill, that if it were to become law would reduce Wyoming’s …
** Denver-based Liberty Oilfield Services Inc. announced second quarter 2020 financial and operational results. Cash and cash equivalents increased by $68 million to $125 million for the quarter ended June 30, 2020. Total liquidity was $207 million at the end of the second quarter 2020. ** Concho Resources Inc. announced that its Board of Directors declared a …
One of the pioneers of the Bakken shale play said Tuesday he expects to see “a decent recovery” for the oil industry by year’s end, with more wells coming online in 2021. “It will recover,” said Harold Hamm, executive chairman of Continental Resources. “It may not be a boom. We don’t need a …
Tulsa’s Cypress Environmental Partners, L.P. announced Wednesday a suspension of quarterly distributions because of the COVID-19 pandemic. The company’s board of directors of its general partner elected to suspend the quarterly distributions until further notice. The board said the move was a response to the “energy industry challenges and the COVID-19 crisis” and made …
