August 2016 archive

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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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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Senate Interim Studies to Examine Drones, Mining and Tax Issues

Oklahoma Senate President Pro Tempore Brian Bingman approved 36 interim studies on Wednesday. “These interim studies will give Senators the chance to take a more in-depth look at the issues that are important to them and their constituents. The state constitution puts a lot of time constraints on the legislative process, so interim studies are …

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WTI and Brent Crude Rebound on Wednesday

Crude oil futures surged higher on Wednesday based on favorable news suggesting a larger-than-expected drawdown in gasoline and crude inventories, according to Bloomberg MarketWatch. September West Texas Intermediate crude jumped $1.32, or 3.3%, to settle at $40.83 a barrel on the New York Mercantile Exchange. The U.S. benchmark plunged after the U.S. Energy Information Administration weekly data …

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Permits to Drill August 4, 2016

Coal County PISTOL #1-9/16H, August 02 2016 04 1N 11E NWSWNESE API: 02921337 Lat: 34.58377955584918, Long: -96.14833644623974 BRAVO ARKOMA LLC HH, DR, 21082 ft, CANEY(9929), WOODFORD(10247) Coal County PISTOL #2-9/16H, August 02 2016 04 1N 11E NWSWNESE API: 02921338 Lat: 34.583793295215465, Long: -96.14828993671021 BRAVO ARKOMA LLC HH, DR, 21030 ft, CANEY(9929), WOODFORD(10247) Coal County PISTOL …

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