February 8, 2016 archive

Saudi Arabia Doesn’t Want Production Cut, Prices Tumble on Monday

More evidence that Saudi Arabia is not on board with production cuts sends crude prices lower on Monday. March West Texas Intermediate crude fell by $1.20 to settle at $29.69 a barrel on the New York Mercantile Exchange. April Brent crude lost $1.18 to…

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Panhandle Oil and Gas Reports First Quarter Loss

Panhandle Oil and Gas reported a net loss of $2.8 million for its fiscal first quarter 2016. That’s comes out to a loss of 17 cents a share. During the same time of the previous year, Panhandle had a profit of $10.2 million or 61 cents a share. While t…

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Well Plugging Fund Makes It Out of Subcommittee

The funding to plug abandoned wells in Oklahoma was pushed forward on Monday. House Bill 2303 extends the life of the Well Plugging Fund for another five years and made it past the House Appropriations and Budget Subcommittee on Natural Resources and R…

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Completion Reports February 9 2015

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Permits to Drill February 9 2016

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Chesaspeake Shares Tumble on Mistaken Report—Company Denies It’s Headed to Bankrtupcy

Shares of Chesapeake Energy Corp. crashed on Monday in the wake of news accounts that the Oklahoma City energy company had hired consultants to assist with restructuring the firm’s $10 billion in debt. At the same time, Chesapeake denied it was headed …

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Pickens Backs Out of Energy Investments for Now

The man everyone listened to about oil, T-Boone Pickens admits it—he’s cashed out on all of his energy-related positions. It’s what he recently told Bloomberg, explaining that he is waiting for the right chance to re-enter the market. He also predict…

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Chesapeake Denies it’s Headed to Bankruptcy While Shares Plummet

Shares of Chesapeake Energy Corp. crashed on Monday in the wake of news accounts that the Oklahoma City energy company had hired consultants to assist with restructuring the firm’s $10 billion in debt. At the same time, Chesapeake denied it was headed …

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Deadline Ends—-Energy Firms Likely to be Sued Over Earthquakes

Four major oil and gas production companies in Oklahoma could possibly learn this week whether they will be sued by the Sierra Club and Public Justice over their injection wells and the surge in earthquakes in the state.
A spokesman for Public Justic…

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Empty Mancamps in North Dakota

The impact of the oil and gas downturn is evident in every state where there’s energy production. Oklahoma isn’t alone. Ask the people in North Dakota where, because of the Bakken oil play, the state had a ‘boom’ in the past several years.
But a…

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