CARTER COUNTY Citation Oil & Gas Corporation 7 2S 2W Wildcat Jim Unit 252, August 26, 2015 SH, INJ, TD: 3450 ft Lat: 34.39093, Long: -97.44081 API: 35019261240002 DEWEY COUNTY Continental Resources Inc 14 17N 15W Jane (Luann 1) 1-14 Swd, August 01, 2016 SH, DISP, TD: 9847 ft Lat: 35.94767, Long: -98.76522 API: 35043224970004 …
August 2016 archive
Blueknight Reports Losses and Details Pipeline Shutdown
After nearly $8 million in revenues in the second quarter of last year, Oklahoma City-based Blueknight Energy Partners, L.P. reports a net loss of nearly $19 million this year. Total revenues were $43.4 million for the quarter ending June 30, also down from the nearly $47 million covering the same period of 2015. Net losses …
Chesapeake Faces Another Royalty Lawsuit in Fort Worth
Weeks after Chesapeake Energy settled hundreds of millions of dollars in royalty lawsuits in Fort Worth, Texas, the company’s been sued by the Mansfield school district. The district, located southeast of Fort Worth accused Chesapeake of sham transactions to cheat it out of more than $1 million from its natural gas leases, according to a …
Earnings Down 49 Percent for Enable Midstream
Oklahoma City-based Enable Midstream Partners reports its 2nd quarter earnings dropped 49 percent compared to a year ago. The net income attributable to limited partners was $39 million, a drop of $38 million from the $77 million for the second quarter of 2015. The company blamed the loss on “changes in the fair value of …
New York AG Sued by Conservative Environmental Groups Over Emails
More than two weeks after a U.S. House committee subpoenaed New York Attorney General Eric Schneiderman in a dispute over his politically-driven probe of Exxon Mobil, Schneiderman has been sued by two conservative environmental law groups. The Free Market Environmental Law Clinic and the Energy and Environment Legal Institute sued him for investigating Exxon and …
Ethanol Production Reaches 4-week Record
U.S. ethanol production bounced back up 6,000 barrels a day this week hitting an average of 1,0004 million barrels a day according to the U.S. Energy Information Administration. The four-week average for ethanol turned out to be a record at an average of 1.009 million barrels a day. Stocks grew by one percent from …
Another STACK Well for Devon Energy
As Oklahoma City-based Devon Energy announced this week intentions to expand drilling operations in Oklahoma’s STACK, the company reported success on at least one well in the play, according to the Completion Reports published by OK Energy Today. The SIMBA well, located 3 miles southwest of Okarche had production of 534 barrels a day along …
War on Coal Hits Manufacturer in Pennsylvania
The combination of the government’s war on coal and slumping prices has resulted in Pittsburgh-based Kennametal Inc. announcing it is laying off 1,000 workers over the next 15 months. The company cites weak demand for the coal-mining and gas-drilling cutting tools that it makes. Kennametal has a workforce of 12,000, down about 2,000 from what …
Devon to Expand Drilling Operations in Oklahoma’s STACK and the Delaware Basin in Texas
Slipped deep in Devon Energy’s second quarter earnings report was word that the company intends to expand operations in Oklahoma’s prolific STACK, that northwest region where wells exceeding 2,000 barrels a day have been hit in the past year. Operations in west Texas will also be targeted for expansion. Devon said its full-year 2016 upstream …
OERB Says Another 40,000 Old Well sites Need Cleanup in Oklahoma
Despite cleaning up more than 15,100 abandoned well sites in Oklahoma, the Oklahoma Energy Resources Board indicated this week it has much work ahead. In a report given to the Oklahoma Corporation Commission, a spokesman for the OERB estimated 20,000 to 40,000 abandoned well sites still need evaluation and cleanup, according to The Oklahoman and …