While Tulsa’s Unit Corporation’s BOSS drilling rigs are at 100 percent contracted, the company still reported a loss of nearly $207 million or $3.91 a diluted share in the third quarter of 2019. Like other energy companies, the reason is the drop in commodity prices. “The loss is primarily attributable to the deterioration in realized …
Nine Energy Service, Inc., one of the STACK and SCOOP operators in Oklahoma reported a $21 million net loss or 70 cents a share in third quarter 2019 revenues. The Houston company reported total revenues of $202.3 million and said its third quarter 2019 adjusted net loss was $4.7 million or 16 cents per adjusted …
Just because it is one of the major energy companies in Oklahoma City with the iconic downtown 50-story office tower doesn’t mean Devon Energy is free of the same kind of oil and gas industry financial challenges faced by every other firm. And if dire steps are needed, Oklahoma’s STACK would be among the company’s …
The same week Oklahoma City’s Chesapeake Energy Corp. spoke publicly of a “going concern” about the company’s future, its shares dropped below a dollar in trading on Wall Street. Analysts and investors will pay close attention this week to see what happens. If the trading continues at the less-than-a-buck level, it could possibly lead to …
David Yarbrough, executive director for the Tulsa Port of Catoosa, was recently elected as the chairman of the National Waterways Conference. Yarbrough joined the Tulsa Port of Catoosa as the manager of operations in 2006 and was promoted to port director in 2017. He graduated from Oklahoma State University with a Bachelor of Science degree …
Rig counts are down in nearly every oil and gas play in the U.S. as numbers dropped by five nationally to 817 in the past week. The number of oil rigs dropped by 7 to 684 while the number of gas rigs remained at 130. The total number of rigs is down 264 since a …
**Houston’s Key Energy Services, Inc. reported a third quarter net loss of nearly $27 million or about $1.30 per share in the company, marking a second consecutive quarterly loss. Consolidated revenues were $106.5 million compared to $112.9 million and a net loss of $18.3 million reported in the second quarter of 2019. ** Xcel Energy-Colorado is running …
The second annual SCOOP and STACK Upstream and Midstream Water Management Conference will be held in December in Oklahoma City. One of the speakers will be Colby Tiffee, Director of Commercial Development at Alta Mesa Resources in Oklahoma City. The firm’s subsidiary, Oklahoma Energy Acquisitions LP is among one of the most active energy firms …
A major newspaper in North Dakota argues the state should be more thorough in its review of proposed wind farm projects across the state. The commentary from the Bismarck Tribune comes as the state also deals with the impact of wind towers on military installations in North Dakota—much like Oklahoma’s situation where wind towers interfered …
Mammoth Energy Services, Inc. saw drops in revenue in nearly every one of its sectors of operations from the second to the third quarter of 2019 and compared to a year ago. The losses were not only reflective of what’s happening in the oil and gas industry but forced the company to suspend some of …
