A new director has been named to head the Oklahoma Employment Security Commission after Robin Roberson was forced out amidst an investigation into millions of dollars in unemployment fraud in the COVID 19 pandemic. The Commission picked Shelley Zumwalt to take over as interim director according to the McCarville Report.
May 2020 archive
Siemens spinning off its energy division
Siemens Energy, the firm with operations throughout Oklahoma including a Wind Service Distribution Center in Woodward is becoming a stand alone company as its parent is spinning off its energy business. In making the announcement this week, Siemens AG said also that 55% of Siemens Energy will be spun off to Siemens’ shareholders. The …
Bankrupt Unit Corporation removed from New York Stock Exchange
Less than a week after filing Chapter 11 bankruptcy in Houston, Tulsa-based Unit Corporation has been told it will no longer be traded on the New York Stock Exchange. Trading of shares in the company was suspended this week as the Exchange started the process of delisting the company’s common stock. The NYSE determined that …
Louisiana follows Oklahoma in stopping cities from banning natural gas hookups
The Louisiana legislature is taking a cue from Oklahoma by approving legislation to stop cities and towns from banning natural gas connections in favor of more climate-friendly electric hookups. The Louisiana House of Representatives on Wednesday unanimously approved a bill that would ban local governments from prohibiting utility connections, including natural gas hookups. Oklahoma Gov. Kevin …
ConocoPhillips wraps up $1 billion sale of Australia assets
ConocoPhillips announced the completion of the more than $1 billion sale of its subsidiaries that hold its Australia-West assets and operations to Santos. The total consideration for the sale is unchanged; however, in connection with the closing, ConocoPhillips and Santos agreed to restructure the payments such that $125 million of the originally announced $1.39 billion …
More layoffs at Chevron
Chevron Corp is the latest major oil and gas producer to take steps to trim its workforce as the company confirmed this week it has plans to lay off an estimated 10 to 15% of its employees. The oil producer previously disclosed a 30% reduction in its 2020 spending and some voluntary job cuts amid …
Investors sue over Occidental Petroleum’s $37 billion purchase of Anadarko Petroleum
Occidental Petroleum Corp’s nearly $37 billion acquisition of Anadarko Petroleum last year led to a lawsuit this week by investors who contend they suffered billions of dollars in losses. The lawsuit, filed Tuesday in New York state court in Manhattan claimed the losses occurred because the heavily indebted company hit its inability to weather plunging …
Completion reports for May 27, 2020
Completion reports filed on May 27, 2020. ALFALFA COUNTY Hinkle Oil & Gas Inc Cherokee Sand / Mississippi Chat: Gas 1 Flow 36 28N 11W State Of Oklahoma 1-36, April 17, 2019 SH, GAS, TD: 6050 ft Lat: 36.85691, Long: -98.33960 API: 35003213130004 DEWEY COUNTY Tapstone Energy Llc Mississippian: Oil 118 Gas 3256 Water 1555 Flow 15 19N 17W Deena 15/10-19-17 1h, April 28, …
Permits to drill for May 27, 2020
Permits to drill issued on May 27, 2020. permits: none were processed today
Oil prices take a 4% drop over tensions with China and worries about Russia
After climbing slowly for the past week, U.S. oil futures on Wednesday took a 4% drop and analysts blamed it on growing tensions between the U.S. and China. July West Texas Intermediate oil fell $1.54 or 4.5% and settled at $32.81 a barrel in trading on the New York Mercantile Exchange. Front-month July Brent crude …
