BP to unload assets in two major plays in Oklahoma and Texas and holdings in New Mexico and Colorado

First ConocoPhillips sold its San Juan basin assets for $3 billion. Now BP American Production Co. is considering pulling out of the same region and the economic impact in Southwest Colorado and northern New Mexico won’t be good. And BP plans to sell its assets in the Anadarko Basin in Oklahoma and the Texas Panhandle. …

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New gas processing plant gets financing

Backed by money from Encap Flatrock Midstream, a Texas firm with offices in Oklahoma City, Cogent Midstream LLC is expanding its natural gas processing in the lower Midland Basin of West Texas. Cogent plans to build a new refrigerated cryogenic processing plant at the same location as its current Big Lake Plant in Reagan County, …

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Devon finds another big producer in the STACK

While the completion was actually made last spring, the latest large well to be revealed in the completion reports filed at the Oklahoma Corporation Commission is in Blaine County. It is the latest producer to come out of the STACK play. Devon Energy’s Porcupine 34_27-1N-12W 1HX had initial production of 1,970 barrels of oil a …

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Wildfire smoke creates health problems in some areas of the U.S.

Smoke from the massive wildfires in California have made for hazy days in Oklahoma for weeks now. But this week, the smoke reached alarming levels in the state of Oregon. Officials in Portland declared the air was unhealthy and urged residents to remain in doors for at least Tuesday. But they also expected to same …

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Pruitt cleared of wrongdoing by GAO over controversial beef association ad

Former Environmental Protection Agency administrator Scott Pruitt has been cleared of at least one of the political allegations made against him, claims that eventually led to him being forced out of office. And the Democrats in Congress who attacked him over it aren’t commenting. The Government Accountability Office has absolved him of any wrongdoing over …

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Kingfisher county sued by oil and gas association over water line fight

The water pipeline fight in Kingfisher County has escalated into a lawsuit filed this week by the Oklahoma Oil and Gas Association against Kingfisher County. It came after the commission in May banned temporary water pipes in ditches alongside county roads. The lines carried treated and new water to oil and natural gas wells where …

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Oklahoma Attorney General moves ahead with fight against Federal Judge’s WOTUS ruling

Oklahoma Attorney General Mike Hunter’s already moved to prevent the recently-reinstated Waters of the U.S. Rule from being implemented in Oklahoma. In an interview this week with Ron Hays at the Oklahoma Farm Report, Hunter indicated his office has asked Judge Claire Eagan in Tulsa U.S. District Court to issue an injunction. The filing came …

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After bankruptcy, Harvest Oil sells south Texas holdings

Harvest Oil and Gas Corp., a Texas firm with operations in Oklahoma and throughout the Mid-Continent area has sold its South Texas Assets in a $135 million deal with Magnolia Oil and Gas Corporation based in Houston, Texas. The sale also includes 4.2 million newly issued shares from Magnolia to Harvest Oi land Gas. The …

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Tulsa’s Magellan Midstream is part of $1.4 billion joint venture over Texas pipeline

Tulsa’s Magellan Midstream Partners, L.P. and Plains All American Pipeline, L.P. of Houston have sold their 50% interest in BridgeTex Pipeline company in a $1.4 billion joint venture with the Canadian pension plan OMERS. Once the $1.438 billion deal is finalized, OMERS will end up with a 30% interest from Plains and a 20% interest …

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Schlumberger already planning for release of 3Q earnings report

Schlumberger Limited’s already planning for the release of its third quarter 2018 earnings. The firm is planning an October 19 conference call to discuss the results for the quarter ending September 30, 2018. The results will be released at 7 a.m. Eastern time and the call will be held 90 minutes later. With major operations …

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