BP Cutting Hundreds of Jobs in Houston Area

Houston, Texas will see a loss of at least 500 BP jobs this year, according to the Texas Workforce Commission which was notified by mail of the company’s employment intentions. Most will occur in June and are part of the nearly 4,000 job cuts the…

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USGS Starts Major Rock Study in Upper Midwest

While the U.S. Geological Survey is busy monitoring earthquakes in northern Oklahoma, it is also in the process of beginning a major study to define what minerals lie beneath portions of the upper Midwest.
Scientists are conducting a high-resolu…

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SEC Gets the Word—-PostRock Energy is Broke

It wasn’t an April Fool’s Day move by Oklahoma City-based PostRock Energy when it filed for Chapter 11 bankruptcy. In a filing with the Securities and Exchange Commission, stated it filed in the United States Bankruptcy Court for the Western Dist…

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Bid-Rigging Lawsuit Filed in Woods County Against Chesapeake, SandRidge and Tom Ward

A lawsuit very similar to the bid-rigging lawsuit filed in Oklahoma City federal court against Chesapeake Energy, SandRidge Energy and oilman Tom L. Ward has been filed in Woods County District court in Alva.
The suit was filed by Harold Koppitz…

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OKC Mayor Cornett Joins Fight Against Wind Rebates

Laying out at least one side of the fight over wind industry rebates opposed by the state’s oil and gas industry, Oklahoma Treasurer Ken Miller discusses the issue he titled “Gone with the Wind” in his monthly Oklahoma Economic Report.
The repor…

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“Earth (Quake) Day” Planned at State Capitol by Oil and Gas Protesters

A rally against giving the Oklahoma Corporation Commission the power to enforce rules and regulations over the oil and gas sector is drawing opponents who plan what they call an “809 Rally” later this month at the State Capitol.
Sponsored by the…

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Nearly 90 New Jobs Created by State Quality Jobs Program

About 90 more jobs in the state are being created as the State Commerce Department’s giving financial assistance through the Quality Jobs Program to two firms, one in Sapulpa and another in Norman.
Ardagh Glass Inc. in Sapulpa will create 70 jobs thro…

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Oklahoma Rebate Program Grows to Help Oil and Gas Industry

More than a year after oil prices plunged from more than $100 a barrel to the $30s, the State Tax Commission says it will pay nearly $158 million in rebates next year to certain operators of what are called “economically at-risk” wells.
Those ar…

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USGS Begins Major Rock Study in Upper Midwest

While the U.S. Geological Survey is busy monitoring earthquakes in northern Oklahoma, it is also in the process of beginning a major study to define what minerals lie beneath portions of the upper Midwest.
Scientists are conducting a high-resolution a…

Continue reading »

PostRock Energy Corporation Files Bankruptcy

PostRock Energy Corporation announced Friday that it filed for Chapter 11 bankruptcy reorganization to facilitate an orderly sale of substantially all of their assets.
In its bankruptcy filing, Oklahoma City-based PostRock said it had assets ranging b…

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