Producers Alliance calls on regulators to prevent waste of state oil

The Oklahoma Energy Producers Alliance is calling on the Oklahoma Corporation Commission to exercise its authority to prevent the waste of Oklahoma’s oil during this unprecedented oil price collapse. “Oklahoma oil is now selling below $20 per daily barrel, which is a price well below its “actual value” and the Oklahoma Corporation Commission should take …

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Oil prices continue to slide closer to $20 mark

As U.S. crude inventories rose in the past week to their highest level since 2016, oil prices on Wednesday fell again and gasoline demand dropped sharply over the coronavirus pandemic. GasBuddy reported several gas stations in Oklahoma City pumped gasoline at 99 cents a gallon. West Texas intermediate crude fell by 17 cents or 0.8% …

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Regulators look for ineffective and outdated rules

State regulators in Oklahoma are attempting to comply with an order from Gov. Kevin Stitt for all state agencies to identify costly, ineffective, duplicative and outdated regulations. Gov. Stitt issued Executive Order 2020-03 on February 3 of this year and this week, the Corporation Commission’s Petroleum Storage Tank Division launched an effort to identify rules …

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Oil and gas lobby group closes some state offices and consolidates

  The American Petroleum Institute announced Tuesday it would consolidate its state-level advocacy work into regional offices in eight states and close offices in 15 state capitals. The new regional teams will be based in Denver; Springfield, Ill; St. Paul, Minn.; Columbus, Ohio; Harrisburg, Pa.; Boston; Raleigh, N.C.; and Tallahassee, Fla., and are on track …

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Energy news in brief

** Senate Energy and Natural Resources Chairwoman Lisa Murkowski is pressing federal energy statisticians to publish data on oil storage capacity to help domestic producers navigate a flooded global market. ** The Trump administration defended its decision to finalize the rollback of clean car standards during the novel coronavirus crisis, prompting praise from conservatives and lawsuit threats …

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Helmerich and Payne cuts 2020 capex and future dividends

  Tulsa-based Helmerich & Payne, Inc. says it anticipates lower capital expenditures for the remainder of the year and announced intentions to lower future dividend payments and its remaining 2020 budget. The company said Wednesday that after reviewing its capital allocation policy decided to reduce the future quarterly dividends to $0.25 per share. The decision …

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CFO leaves Nine Energy

Oilfield services company Nine Energy Service, Inc.  announced  that Clinton Roeder, Senior Vice President and Chief Financial Officer has departed the Company by mutual consent effective Wednesday. Guy Sirkes, Vice President, Strategic Development, has assumed the role of Senior Vice President and Chief Financial Officer. Prior to joining the Company in March 2019, he was …

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Texas oil and gas industry launches coalition to minimize methane gas flaring

Nearly 40 Texas energy companies announced this week the creation and formation of the Texas Methane and Flaring Coalition, a group created to work on environmental progress. Based in Austin,the Coalition said it would collectively identify and promote operational and environmental recommended practices. The Coalition will evaluate existing data and evidence on flaring and methane emissions …

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Rick Perry warns US energy sector on verge of ‘massive collapse’ due to coronavirus pandemic

  Former Energy Secretary Rick Perry warned Tuesday on “Tucker Carlson Tonight” that the coronavirus pandemic has brought the United States’ once-thriving oil and energy sector to the verge of a “massive collapse.” Sweeping restrictions on work and travel have brought industrial activity to a near- standstill. Perry explained that fewer cars on the road and fewer flights in the air translate to a major decrease …

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Well completions still reported in Oklahoma

  A slowdown in drilling permits and completion reports is seen at the Oklahoma Corporation Commission in light of the oil price war and the impact of the coronavirus pandemic. But Camino Natural Resources Inc., based in Denver, Colorado and with assets in the SCOOP and Merge plays filed reports on two completed wells in …

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