Occidental Petroleum Corp this week swung to a first quarter $2.2 billion loss on writedowns and charges, and the troubled U.S. oil producer cut its budget for the third time since March in response to a historic oil-price crash. The company has been struggling with debt taken on in last year’s $38 billion acquisition …
A week after Cheniere Energy opened its Midship gas line in Oklahoma’s STACK play, the company finds itself like a lot of others wondering what to do with excesses of natural gas as demand dwindles in the world’s biggest buyers of liquefied natural gas. Asia’s spot prices are at record lows and some suppliers are …
A major operator in Oklahoma’s oil patch, Marathon Oil Corporation reported a first quarter 2020 net loss of $46 million or 6 cents a diluted share. The adjusted net loss was $(125) million, or $(0.16) per diluted share. Net operating cash flow was $701 million, or $550 million before changes in working capital. Chairman, President, and CEO Lee Tillman said, “While the safety …
Apache Corp. reported net losses of nearly $4.5 billion this week, leading to a nearly 4% drop in Wednesday’s trading of shares. The net loss totaled $4.48 billion which amounts to $11.86 a share. A year ago, the company had a $47 million or 12 cents a share loss. Adjusted for asset impairments, losses …
Completion reports filed on May 6, 2020. ALFALFA COUNTY Trans Pacific Oil Corporation Mississippi: Oil 7 Gas 401 Water 1025 Flow 21 29N 12W Tucker A 1-21, December 10, 2019 SH, OIL, TD: 5500 ft Lat: 36.97659, Long: -98.49755 API: 35003233860000 Trans Pacific Oil Corporation Mississippian(4866): Oil 17 Gas 31 Water 912 Flow 26 29N 12W Diel A 1-26, March 02, 2020 SH, GAS, TD: 5600 …
Permits to drill issued on May 6, 2020. Grady County WATERMELON 0906 #16-21-1MXH, May 06 2020 16 9N 6W NENWNENE API: 05124783 Lat: 35.2610324779286, Long: -97.83277772693626 CAMINO NATURAL RESOURCES LLC MU, DR, 19069 ft, MISSISSIPPIAN(10692), WOODFORD(10823)
Devon Energy isn’t finished with its cost-cutting moves and announced Wednesday, it intends to suspend drilling and exploration operations in three targeted oil plays including the Anadarko Basin in Oklahoma. President and CEO Dave Hager said it is part of the company’s 2020 spending plan to limit spending to $1 billion in 2020 and a …
Just like Halliburton left Duncan, Kerr McGee departed Oklahoma City and Phillips 66 moved its headquarters, the city of El Dorado, Arkansas is having the same feelings about its longtime Murphy Oil Corp. Murphy Oil Corp. on Wednesday said it’s closing its El Dorado, Arkansas, headquarters and moving to Houston. The independent oil and natural …
Oil prices in the U.S. took a 2% drop in Wednesday’s trading, ending five consecutive trading sessions where they had risen nearly 50%. West Texas Intermediate crude fell 57 cents or 2% to end the day at $23.99 a barrel on the New York Mercantile Exchange. It was considered something of a volatile session as …
A loss of $208 million or 46-cents a share was reported Wednesday by Tulsa-based WPX Energy in its first quarter earnings report. Cash flow from operations, inclusive of hedge impact, was $256 million in first-quarter 2020, down just 6 percent vs. the same period a year ago despite significant decreases in average realized commodity …
