Chesapeake Energy Corp. had almost $1 billion in hedges 10 weeks before executives were said to start prepping for a bankruptcy filing. The question now is how many are left and what will the cash-strapped shale driller do with them? Chesapeake’s natural gas and oil derivatives as of March 31, according to a filing, …
More and more oilfield equipment is going for bargain-basement prices in auctions held throughout the industry as rigs and equipment are idled due to the coronavirus pandemic and the oil price crisis. Reuters recently covered one such auction in North Dakota. Fast-talking auctioneer Greg Highsmith sung out dozens of prices – “seventy-five-hundred now, $10,000 now, …
Crude oil producers took it on the chin again Thursday as futures prices in the U.S. and overseas took their biggest drop in more than six weeks. West Texas Intermediate crude for July deliver fell $3.26 or 8.2% at $36.34 a barrel in trading on the New York Mercantile Exchange, this after rising 1.7% …
Kiowa Power Partners, LLC, owner of Tenaska Kiamichi Generating Station near Kiowa, and the facility’s electricity customer, Shell Energy North America, L.P., have awarded $12,000 in college scholarships to eight Kiowa High School seniors. Since 2004, the companies have presented 140 scholarships totaling nearly $150,000 to local students. Scholarships were awarded to Kiowa High …
The U.S. Senate Energy Committee has announced a June 16 hearing to examine impacts of the ongoing Covid-19 pandemic on the energy sector. Witnesses have yet to be announced, but ME expects lawmakers will be interested in the oil price crash and the more than 600,000 jobs in the clean energy sector lost during the crisis. The Committee …
Three years after a home explosion caused by a leaking gas line killed two men, Colorado regulators Wednesday adopted new rules to guard the integrity of oil and gas wells and protect groundwater resources — rules industry and environmental groups both called the most comprehensive in the country. The Colorado Oil and Gas Conservation …
New Mexico regulators are proposing thousands of dollars in fines for two companies accused of illegally dumping produced water from oil and gas operations in the southeastern part of the state. The state Oil Conservation Division said Wednesday the water was dumped on state trust lands and on a road in Lea County, according …
The coronavirus pandemic has resulted in an environmental group abandoning efforts to put an anti-fracking measure on the Colorado November ballot. Reuters reported Colorado Rising won’t launch a petition drive after its 2018 effort failed and it had explored several ballot initiatives to create more stringent regulations on oil and gas drilling in the …
** Phillips 66 executive management will host a conference call webcast at noon EDT on Friday, July 31, to discuss the company’s second-quarter 2020 financial results, which will be released earlier that day, and provide an update on strategic initiatives. ** Product Advisory notices have been sent to importers, Building Code Associations and Homebuilder Associations throughout the …
A new report shows how the plunging rig numbers in Oklahoma’s SCOOP and STACK plays have resulted in plummeting amounts of natural gas flowing from the state. Falling production receipts along the four largest pipelines running through Oklahoma has led to lower natural gas supply from the Midcon Producing region to reach Upper …
