March 9, 2018 archive

Drilling Company’s Fight with City of Mustang Continues in Supreme Court

Despite oral arguments having been made before a State Supreme court referee, the legal fight between the City of Mustang and Tulsa’s Citizen Energy II LLC is anything but finished. The fight focuses on the oil drilling company’s refusal to comply with Mustang’s drilling restrictions created late last year as Citizens Energy sought permission to …

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Rig Count Drops in Oklahoma but Grows Nationally

While Oklahoma’s oil and gas rig count slipped by 4 in the past week, the national count went up by 3 to reach 984. Results from Baker Hughes Co. and the Independent Oil and Gas Service showed the Oklahoma count is down to 120 compared to a week ago. The national count included a drop …

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Another Strong Oklahoma Earthquake While Others Hit Southern Kansas

Northern Oklahoma experienced another strong earthquake early Friday morning while others occurred in recent days throughout southern Kansas. The U.S. Geological Survey recorded a 3.6 magnitude quake shortly after midnight on Friday near Fairview.  It happened at 12:16 a.m. and had a depth of about 3 miles. But throughout the past several days, quakes were …

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$5.6 billion Sale of Calpine Wraps Up

The $5.6 billion sale of energy provider Calpine Corporation to Energy Capital Partners of Houston and a consortium of other investors was completed this week. Calpine stockholders will receive an amount in cash equal to $15.25 per share of Calpine common stock. At the same time, shares of Calpine, a company with energy operations in …

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Williams’ Subsidiary Prices Offering of Senior Notes

Transcontinental Gas Pipe Line Company, LLC, one of the wholly-owned subsidiaries of Williams Partners L.P. in Tulsa announced it has priced its previously announced offering of senior notes. The $400 million in principal mount of senior notes due 2028 were priced with a 4.000 percent coupon and at an offering price of 99.446 percent of …

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Cactus Drilling Reports 120% Increase in 2017 Revenues

Houston-based Cactus Inc. reported it increased revenues more than 120 percent for 2017 going from $155 million in 2016 to more than $341 million last year. The drilling company has most of its rigs located on sites in Oklahoma. Its website currently lists 32 rigs in Oklahoma compared to 26 in Texas, 6 in New …

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Late Completion Reports Reveal 2200 barrel a day well for Devon Energy in STACK

A Blaine County well that initially produced more than 2,200 barrels of oil a day has been in production since last fall but the completion report was just filed this month with the Oklahoma Corporation Commission. It also resulted in another big well for the STACK. The report filed by Devon Energy showed the  Baker 9 …

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