May 11, 2020 archive

Completion reports for May 11, 2020

Completion reports filed on May 11, 2020. ALFALFA COUNTY Bce-mach Llc Mississippian(5640): Oil 58 Gas 779 Water 312 Gaslift 33 26N 11W State 33-26-11 3h, November 02, 2019 HH, OIL, TD: 10538 ft Lat: 36.69490, Long: -98.38972 API: 35003233840000 COTTON COUNTY Wisbey Oil Llc 36 3S 11W Louann 1, July 24, 2019 SH, DRY, TD: 0 ft Lat: 34.24702, Long: -98.31226 API: 35033211390000 …

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Permits to drill for May 11, 2020

Permits to drill issued on May 11, 2020. Blaine County SLO-POKE #1-33H, May 11 2020 33 18N 12W S2S2SWSE API: 01123754 Lat: 35.985768612479056, Long: -98.48298353730466 STAGHORN PETROLEUM II LLC HH, RC, 14310 ft, MORROW(8631)

Oil prices drop again in the US and overseas

  After rebounding last Friday, oil prices in the U.S. slipped more than 2% in Monday’s trading as West Texas Intermediate crude settled down 60 cents to reach $24.14 a barrel. Brent crude, the international benchmark dropped too, falling 77 cents or 2.5% to hit $30.20 a barrel. Natural gas prices were up a penny …

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Chaparral losses continue to mount as company suspends drilling operations

  Chaparral Energy reported more losses in the first quarter of 2020, showing it had net income of $4.9 million for the quarter but also a more than $66 million loss in operating income. At the same time, the company has continued with layoffs of 18 workers who made up 15% of Chaparral’s workforce. It …

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Regulators consider requests to declare oil production a “waste”

While Oklahoma Corporation Commissioners took no vote in Monday’s 5-hour long hearing of testimony about requests to declare a “waste” of oil production in the state, it is clear there is distinct separation of opinions about making such a move. Some operators contend it’s a waste of oil to sell it at the low prices …

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Oklahoma urges Musk to move his Tesla plant to the Sooner State

Hey Elon!  Oklahoma wants to talk with you about moving your Tesla operations out of California. It’s the message Gov. Kevin Stitt and some legislators have after learning Elon Musk has filed suit against California after it refused to allow him to reopen his car manufacturing plant because of the coronavirus shutdown. They responded after …

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Number of orphaned wells predicted to grow

There’s a fear that the COVID-19 pandemic and the oil crisis will lead to a large increase in orphaned wells in the U.S. and the subject was reported on Monday by POLITICO’s Morning Energy Report. WAR OF THE WELLS: There are already tens of thousands of “orphaned” wells spread across U.S. oil-producing states, left abandoned by …

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Energy news in brief

** The CEO of American Electric Power expects final state regulatory decisions this month on the company’s 1,500 MW wind project in Arkansas, Texas, Oklahoma and Louisiana. ** As the state phases out net metering, Vectren is the first Indiana utility to file a request to compensate customers less for excess solar power they send to the grid. ** Michigan regulators tell …

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Chesapeake Energy expresses doubts it will survive

Leaders of Oklahoma City-based Chesapeake Energy have expressed for the first time they have doubts about the ability of the company to survive if they are unable to restructure massive debts through a Chapter 11 reorganization. It is clear the company is teetering on bankruptcy. In a filing with the Securities Exchange Commission on Monday, …

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Attorney says “waste of oil” request will fail

  At least one attorney who is a former officer with the Oklahoma Independent Petroleum Association says the argument in support of mandated crude oil reductions in Oklahoma will fail. A.J. Ferate compared it to what Communist nations have done. It’s what he wrote in the McCarville Report. By A.J. Ferate The sudden collapse of …

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