Alta Mesa Resources isn’t the only energy firm to implement some changes in operations in Oklahoma’s STACK. Word came this week that the Canadian energy company Encana intends to cut the number of rigs in operation but maintain or even increase productivity. It’s dropping its total rigs from 10 to four during the time period. …
ExxonMobil has agreed to pay a $616,000 civil penalty over the 2013 fire at its Beaumont refinery that killed two workers and injured ten others. But it also do much more to meet approval from government regulators. The agreement was announced this week by the Justice Department. Under the deal, ExxonMobil will also hire …
Baker Hughes, a GE company announced that the Baker Hughes international rig count for February 2019 was 1,027, up 3 from the 1,024 counted in January 2019, and up 48 from the 979 counted in February 2018. The international offshore rig count for February 2019 was 250, up 8 from the 242 counted in January 2019, and up 56 from the 194 …
In releasing his 4th Federal Fumbles edition this week, Oklahoma U.S. Sen. James Lankford was critical of protecting nuclear and coal generators that are at risk of closure. “Coal and nuclear are great fuel sources, but the decision to use them should be based on the market, not the mandate,” stated the Senator in the …
Burlington Northern Santa Fe railway announced this week that construction is underway on a massive new logistics center near Denver. The company did not reveal the cost but said the 430-acre Logistics Center Hudson is located about 20 miles north of Denver International airport and 30 miles northeast of downtown Denver. BNSF said the fully-permitted …
Could be a few more weeks before Republican leaders in the U.S. Senate manage to force a vote on the Democrats’ Green New Deal. if you were expecting a vote this week, it won’t happen. As POLITICO reported this week, the resolution outlining the scope of the Green New Deal won’t be ready until “the …
A new government report shows the strength of the energy sector when it comes to employment in the U.S. Most areas showed significant increases in the number of workers in 2018 according to the report from Energy Futures Initiative and the National Association of State Energy Officials. The report showed that the traditional energy and …
Management at one company that owns and operates a refinery in Tulsa is urging shareholders to reject an unsolicited mini-tender offer by another firm. HollyFrontier Corporation was notified of the offer by TRC Capital Corporation which indicated it wants to purchase up to 2 million shares of the company common stock. The purchase would represent …
Nine Energy Service, Inc., one of the exploration and production companies active in Oklahoma’s STACK and SCOOP reported a fourth quarter net loss of $77 million on revenues of $229.4 million. The revenues increased about 5% compared to the third quarter of 2018 when revenues totaled $218.4 million. But the fourth quarter net loss …
Cactus Drilling, with its many rigs throughout Oklahoma and other oil-producing states reported fourth quarter 2018 revenues of nearly $140 million. It also felt the impact of lower oil prices and declining activity. The Houston company stated the revenues totaled $139.8 million and the generated income from the operations came to $43.9 million. Net income …
