Crude oil futures showed signs of recovery on Thursday, reversing some of the losses from earlier in the week as traders positively reacted to the latest reports of a significant drawdown in gasoline supplies, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude rose $1.10 a barrel, or 2.7%, …
August 4, 2016 archive
Permits to Drill August 5, 2016
Greer County SPARKMAN #1, August 04 2016 08 3N 22W NWSESESE API: 05520713 Lat: 34.74042792087355, Long: -99.52959193803889 GLB EXPLORATION INC SH, DR, 4500 ft, CANYON(3232), STRAWN(3629), PENN GRANITE WASH(3983) Oklahoma County SALVATION ARMY #1, May 27 2016 31 12N 3W NESWNENE API: 10922451 Lat: 35.476375895439176, Long: -97.55078529386496 GLB EXPLORATION INC SH, AM, 8500 ft, LAYTON …
Continental Resources to Expand into STACK
In announcing its second quarter loss of more than $119 million this week, Oklahoma City-based Continental Resources Inc. also revealed it is selling more than 29,000 net acres in the SCOOP play to pay down some of its debt. Continental has been a major player in the southern part of the state and despite the …
Oil and Gas Layoffs Contribute to Oklahoma’s Growth in Unemployment
Jobless rates for June in Oklahoma showed more growth in 65 of the state’s 77 counties with the oil and gas industry contributing, according to a county-by-county breakdown provided by the Oklahoma Employment Security Commission. The rates were higher than a year ago but dropped in 10 counties and remained unchanged in 2 counties. Stephens …
SandRidge Sued by South Texas School District in Fight Over Land Values
Oklahoma City’s Chesapeake Energy isn’t alone in being sued by a Texas school district. Add SandRidge Energy to the list of those hauled into court. SandRidge has been sued by the Fort Stockton Independent School District and accused of owing the district more than $500 million, according to the Journal Record. The school district contends …
Environmental Activists Found “Not Guilty” in 2013 Protest at Devon Energy Headquarters
Two environmental activists were acquitted this week on charges stemming from a December 2013 protest demonstration at the Devon Energy headquarters in downtown Oklahoma City. Chief Municipal Court Judge Phillipa James announced not guilty verdicts in favor of Moriah Stephenson and Stefan Warner who had been arrested and charged originally with Terrorism Hoax felonies. The …
Political Spending by Utilities Under Investigation in Arizona
PHOENIX (AP) — An Arizona Corporation Commission member who has been seeking documents from the state’s largest electric utility on its possible political spending has hired an attorney to analyze how outside interests may be influencing utility regulators’ decisions. [Commissioner Bob Burns said Tuesday he’s hired attorney Scott Hempling to do the analysis for the …
WPX Reports $204 million losses but Plans More Drilling in the Delaware Basin
Tulsa-based WPX Energy reported second-quarter losses of $204 million saying the results were affected by unrealized non-cash net losses on the company’s hedge portfolio. It amounts to a loss of $0.68 a share on a diluted basis, according to the company. WPX president and CEO Rick Muncrief said a 46 percent increase in oil sales …
Chesapeake Cuts Debt by $1 billion but is Still $8.7 billion in Trouble
The headline of the quarterly earnings report released Thursday by Chesapeake Energy focused on how the company’s total debt reduction is more than $1 billion year to date. But buried in the details of the report is the fact that the Oklahoma City company remains $8.7 million in debt and suffered second quarter losses of $1.792 …
Continental Posts $119 Million Loss for 2Q, Increases Production Guidance
Oklahoma City-based Continental Resources Inc. reported a loss of more than $119 million or 32 cents a share for the second quarter, according to a company press release issued on Wednesday. Earnings before interest, taxes, depreciation, amortization and exploration expense was $528.1 million, down from $647 million in the second quarter of 2015. Total revenue …
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