December 2017 archive

New CEO Named at Tulsa’s Empire Petroleum

Tulsa-based Empire Petroleum Corporation gets a new Chief Executive Officer. Long-time leading energy investment banker Thomas “Tommy” Pritchard was named CEO this month. At the same time, the company announced its purchase of nearly 14,000 gross developed and undeveloped acres and 70 producing wells in North Louisiana. The wells produce about 500 gross barrels of …

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Continental Resources Extends Pipeline Deal with Tallgrass Energy

Pipeline and storage operator Tallgrass Energy Partners, LP based in Leawood, Kansas announced this week that Oklahoma City-based Continental Resources, Inc. exercised its contractual right to extend its agreement with the company. The agreement pertains to Continental’s shipment of crude with the Belle Fourche Pipeline Company and TEP’s subsidiary, Tallgrass Pony Express Pipeline, LLC. The …

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WTI Climbs Above $60 for First Time in 2 and a Half Years

With West Texas Intermediate prices climbing above the $60 mark this week, it was due to a pipeline that exploded in Libya. As a result of the explosion, a large part of supply was knocked offline. The rise above $60 a barrel was the first time in two and a half years that WTC hit …

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LINN Energy Unloads Some Oklahoma and Texas Properties

The Oklahoma Waterflood and Texas Panhandle properties of LINN Energy Inc. have been sold in a $122 million agreement with ah undisclosed buyer. The sale, still subject to closing agreements involves 179,000 net acres in Oklahoma and Texas with third quarter net production of nearly 5,200 BOE/d. It also involves proved developed reserves of  22.8 …

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Democratic Attorneys General Ask Congress Not to Cut EPA Funding

A dozen Democratic attorneys general have written congressional leaders in opposition to what they call “deep and damaging proposed cuts” to the Environmental Protection Agency’s fiscal 2018 budget. Iowa Attorney General Tom Miller was one of the 12 who also wrote they were opposed to “the anti-environmental riders contained in the federal government appropriation legislation.” …

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STACK Targeted With More Drilling Permits

Oklahoma’s STACK oil play continues to be the target of some of the hottest drilling exploration. A listing of Permits to Drill released by the Oklahoma Corporation Commission reveals 7 more permits for Blaine County, 10 in Canadian County and 7 in Kingfisher County. Those three are the primary counties that make up the popular …

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Chesapeake Offers $30 million Settlement in Pennsylvania Royalty Lawsuits

A $30 million settlement offer is being made by Oklahoma City-based Chesapeake Energy to landowners in federal lawsuits in Pennsylvania. The lawsuits were filed in a fight over gas-royalty payments. Despite the settlement, Pennsylvania Attorney General Josh Shaprio says it really depends on bringing an end to a separate lawsuit against the Oklahoma company according …

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Viking Energy Wraps Up Another Acquisition

  Viking Energy Group, based in New York has finished another acquisition of an oil and gas company in the U.S. It was in early November when Viking announced it was acquiring the assets of a privately-owned company involving multiple oil and gas fields across Texas, Louisiana and Mississippi. The production totaled 350 BOE/d. The …

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$765 million Eagle Ford Asset Sale Announced

One of the latest south Texas oil and gas deals involves the $765 million sale of Eagle Ford shale holdings by Cabot Oil and Gas Corp. It’s selling 65,100 operated and 9,400 nonoperated acres to an affiliate of Venado Oil and Gas LLC of Austin. The holdings are located in the South Texas counties of …

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Number of New Global Oil Discoveries Continues Falling

The flow of oil out of Oklahoma’s STACK and SCOOP and the Permian basin in Texas has resulted in the need for more pipelines and truckers.  But one report says major oil discoveries are at their lowest levels in more than 70 years across the globe. The Houston Chronicle reports the year will end with …

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