The latest weekly oil and gas rig count revealed declines in the nation and Oklahoma, according to Houston-based Baker Hughes Company. The nation’s rig count dropped by four to reach 954, down from a year ago when it had 464 working rigs. Oklahoma’s count fell by two in the past week to reach 132 compared …
August 2017 archive
WTI and Brent Crude Finish the Week with a Jump on Friday
Oil futures finished higher on Friday despite booking a weekly loss, as investors focused on a decline in active rigs, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate gained 55 cents, or 1.1%, to settle at $49.58 a barrel. For the week, WTI slipped by 0.3%. October Brent crude, …
Completion Reports August 7, 2017
ALFALFA COUNTY Aexco Petroleum Inc 29 25N 11W Kephart Swd 1-29, June 08, 2017 SH, DISP, TD: 5400 ft Lat: 36.62260, Long: -98.40496 API: 35003232630000 BLAINE COUNTY Continental Resources Inc Mississippian(9924): Oil 279 Gas 347 Water 2627 Flow 18 16N 10W Blurton 8-7-6xh, March 08, 2017 HH, OIL, TD: 20754 ft Lat: 35.86872, Long: -98.29935 API: 35011236170000 Continental Resources Inc Mississippian(9985): Oil 285 Gas …
Permits to Drill August 7, 2017
Blaine County SISSON #1-25H, August 04 2017 25 17N 13W SWSESESE API: 01123839 Lat: 35.91417846958197, Long: -98.53118577930006 COUNCIL OAK RESOURCES LLC HH, DR, 16600 ft, MISSISSIPPIAN(10661), WOODFORD(11347) Blaine County COX #1-8H, August 04 2017 18 17N 13W SENENENE API: 01123840 Lat: 35.95540080384398, Long: -98.61954304903146 COUNCIL OAK RESOURCES LLC HH, DR, 16500 ft, MISSISSIPPIAN(10351), WOODFORD(11021) Blaine County …
Despite Profits, Chesapeake’s Cutting Rig Numbers
Despite $470 million in earnings compared to a loss one year ago, Oklahoma City’s Chesapeake Energy is cutting back on the number of operational rigs. The company expects production to continue growing but it also will cut four rigs by the end of the year as it attempts to curtail expenses. The $470 million in …
Big Income Quarter for Tulsa’s Williams Partners
After the sale of its holdings in a Geismar, Louisiana plant, Tulsa’s Williams Partners announced second quarter net income of $81 million. The Geismar sale totaled $2.1 billion in cash and proceeds were used to pay off an $850 million term loan and also prefund part of growth capex. The $81 million net income was …
Tough Quarter for Tulsa’s NGL Energy
Tulsa-based NGL Energy Partners LP reported a net loss of nearly $64 million for the quarter ending June 30, 2017. The loss of $63.7 million compared to net income of $182.8 million in a year ago, leading CEO Mike Krimbill to explain, “Our first quarter results (2018) were impacted by the continued challenges facing our Refined …
Murphy Oil Offers $550 million in Senior Notes
Murphy Oil Corporation’s announced the offer of $550 million in Senior Notes that will mature in 2025. The El Dorado, Arkansas based independent oil and gas exploration company said it will use proceeds to redeem its 2.500 percent Notes due December 2017. J.P. Morgan Securities LLC is the joint book-running manager for the offering.
Newfield Sees Continued Improvements in STACK and SCOOP
While Houston-based Newfield Exploration was reporting profits in the second quarter, it was also offering details of its operations in Oklahoma’s STACK and SCOOP plays. As OK Energy Today reported, the company recently completed several wells in Blaine county in the STACK. But in the company’s second quarter financial statement, Lee Boothby, Newfield Chairman, President …
Two FERC Nominees Confirmed by US Senate
Oklahoma Senators Jim Inhofe and James Lankford helped confirm two new members to the Federal Energy Regulatory Commission on Thursday. It was considered an important step in returning a quorum to the agency. The Senate gave a voice vote for Neil Chatterjee and Robert Powelson. “Neil Chatterjee and Rob Powelson will bring strong, pro-energy perspectives …
