Devon Energy Corp. (NYSE: DVN) announced today it has entered into a definitive agreement to sell 9,600 net acres of non-core Delaware Basin acreage in Ward and Reeves County to Carrizo Oil and Gas for $215 million. Net production from these properties is approximately 2,500 oil-equivalent barrels per day (60 percent oil). The transaction is …
Governor Mary Fallin and Valkyrie Systems Aerospace (VSA) announced Tuesday a partnership between the state of Oklahoma and the company. The partnership will ultimately accommodate manufacturing facilities, as well as flight operations and training in the greater Oklahoma City area. VSA was recently awarded a 21st Century Quality Jobs Program incentive contract that will create …
Gasoline prices dropped a few cents a gallon across the state of Oklahoma in the past week while they held steady nationally. AAA Oklahoma reports the state average is $2.62 a gallon which is 2 cents cheaper than last week at this time. Nationally, the average is $2.86 which was the same as a week …
Oklahoma City-based Chesapeake Energy has reached a federal class-action settlement in a Pennsylvania lawsuit that would result in a $7.75 million payout by the company. The settlement pertains to a lawsuit filed over royalty claims of nearly two-thirds of the company’s royalty holders in the state. It alleged Chesapeake overpaid transportation costs which resulted in …
The U.S. Government expects oil production in the Anadarko Basin of Oklahoma and the Texas Panhandle to increase by September. New-well oil production is forecast to increase by 9,000 barrels a day, reaching 558,000 barrels a day by next month, according to a forecast released this week by the U.S. Energy Information Administration. The August …
Forecast crude oil prices reflect competing price risks In the August 2018 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts Brent crude oil prices to average $73 per barrel (b) in the second half of 2018 and decline to an average of $71/b in 2019 (Figure 1). Competing upside and downside …
A new report by an Austin-based company says oil and natural gas drillers in Texas are flaring natural gas at record-high levels. Drillinginfo, an industry research firm says the burning is the result of massive production in West Texas and the Permian Basin. As Houston Public Media reported, the flaring is also the result of …
The Cimarron Group of the Sierra Club in Oklahoma will hold its August meeting Thursday night in Oklahoma City. The meeting will be held at the Six Twelve Community Center at 612 NW 29 street. The program will be presented by Tracy Sharp, an OSU/OKC graduate in horticulture and greenhouse management who works for Prairie …
A study of the Rush Springs aquifer in southwest Oklahoma has been finished and released by the Oklahoma Water Resources Board. The study was the result of a mandate by state law to determine what is called the “maximum annual yield” or MAY and equal proportionate share within the basin. The new report details the …
Tulsa’s Williams company has won federal approval of expansion of its Transco natural gas pipeline serving the northeast part of the country and construction could begin in early 2019. The Rivervale South to Market project was issued a certificate of public convenience and necessity from the Federal Energy Regulatory Commission. It will create 190,000 dekatherms …
