The Federal Reserve Bank of Kansas City released the first quarter Energy Survey this week, showing how energy activity in the Tenth District that includes Oklahoma decreased at a steep pace and expectations for future activity dropped further. “District energy activity fell sharply during the first quarter of 2020, with our index dropping to its lowest …
New Mexico’s State Land Office announced it plans to take emergency rulemaking steps to allow oil operators to temporarily stop production without penalty for at least 30 days. Commissioner Garcia Richard said the companies will have a possible extension up to 120 days in light of the COVID-19 pandemic and its effects and the Russia …
A somewhat mild winter resulted in lower sales for Compass Minerals, an Overland Park, Kansas based company that provides essential deicing salt. The company announced its first quarter 2020 winter weather activity in North America and the United Kingdom was below average. Eleven representative cities in the company’s primary North American highway deicing service …
The combined impact of the COVID-19 epidemic and the plunge of crude oil prices forced ExxonMobil to make further cuts in its 2020 capital spending. The company announced Tuesday it would reduce capex by 30% and lower cash operating expenses by 15%. Capital investments for 2020 are now expected to be about $23 billion, down …
Houston’s big pipeline and storage company Plains All American has cuts its capital spending this year by 33 percent or $750 million, according to its latest announcement. Combined with the elimination of joint venture project funding, the reduction is actually 47% or $1.35 billion. “We are taking a number of actions in response to the …
Construction got underway over the weekend in northern Montana on the Keystone XL oil sands pipeline meant to be an extension of an existing Keystone line in Oklahoma and Texas. The extension has been bitterly fought by environmentalists and tribal leaders. A spokesman for TC Energy said the work started on the $8 billion project …
While ONEOK, Inc. is preparing to release its first quarter 2020 earnings later this month, the company also took part Tuesday in a virtual summit aimed at attracting investors. ONEOK took part in the SunTrust Robinson Humphred Power, Utilities and Midstream Summit virtual conference and made investor materials available on its website, www.oneok.com. The quarterly release of …
Struggling after emerging from its 2016 bankruptcy reorganization, Oklahoma City’s SandRidge Energy on Tuesday announced the naming of a new company president. At the same time, it suggested further employee reductions are coming along with a suspension of drilling activities and its remaining 2020 capital expenditures budget. Carl F. Giesler, Jr., formerly CEO …
Oklahoma’s STACK play keeps coming up with big producers as completion reports filed this week showed three sister wells with combined oil production of nearly 2,000 barrels a day. It was in Blaine County where Paloma Operating Co. LLC, based in Houston drilled the three Big Nugget 9_4-15N 13W wells. The site is at 9 …
Permits to drill for April 6, 2020. permits: none were processed today
