A Houston manufacturer of drill pipe said it may layoff its entire workforce — nearly 500 people — as a result of the energy downturn and coronavirus, according to a filing with the Texas Workforce Commission. Houston Chronicle reported that Texas Steel Conversion, which manufacturers metal tubing and pipe for the oilfield industry, said in …
June 2020 archive
Devon shareholders okay incentive pay plan
The results of Devon Energy’s annual meeting this week are official as shareholders gave approval to a 2019 incentive pay plan that had been opposed by some proxy advisers. A reported 61% of the votes supported the company’s plan of a 2019 performance-related stock awards for top executives at Devon. In a Friday filing with …
Figures show plunge in worldwide rig counts
Baker Hughes announced Friday that the Baker Hughes international rig count for May 2020 was 805 down 110 from the 915 counted in April 2020, and down 321 from the 1,126 counted in May 2019. The international offshore rig count for May 2020 was 195, down 33 from the 228 counted in April …
Recent wells completed by EOG Resources and Chaparral Energy
Chaparral Energy and EOG Resources are among companies filing recent well completion reports in Oklahoma. Chaparral completed two wells on a single pad in Canadian County with combined production of 973 barrels of oil a day. The two Denali 1206 wells are located at 20 12N 76W which is a site midway between El …
Completion reports for June 4, 2020
Completion reports filed on June 4, 2020. CANADIAN COUNTY Camino Natural Resources Llc Woodford(9838): Oil 182 Gas 1345 Water 2911 Flow 3 12N 7W Mount Scott 1207 4-9 1wxh, March 10, 2020 HH, OIL, TD: 19776 ft Lat: 35.55062, Long: -97.93620 API: 35017255480000 Chaparral Energy Llc Mississippian(9196): Oil 426 Gas 1169 Water 252 Flwg 20 12N 6W Denali 1206 4umh-20, December 10, 2019 HH, OIL, TD: …
Permits to drill for June 4, 2020
Permits to drill issued for June 4, 2020. Nowata County GARRETT PHASE II #6B, June 04 2020 01 26N 14E NESESESW API: 10541269 Lat: 36.758663467482755, Long: -95.76525457047637 ROCKY TOP ENERGY LLC SH, DR, 1250 ft, BARTLESVILLE(1200) Nowata County GARRETT PHASE II #9B, June 04 2020 01 26N 14E NWSESESW API: 10541245 Lat: 36.75866354277704, Long: -95.7663810316911 ROCKY TOP …
Oil prices made small gains in Thursday’s trading
Both US and European oil prices saw minor gains in Thursday’s trading. Benchmark U.S. crude oil for July delivery rose 12 cents. The West Texas Intermediate price settled at $37.41 a barrel in trading on the New York Mercantile Exchange. Brent crude for August delivery rose 20 cents in ICE Futures trading and ended the …
Weekly Jobless Claims Remain at Record Level
The number of initial claims for unemployment benefits filed with the Oklahoma Employment Security Commission (OESC) for the week ending May 30, 2020, shows the impact of business closures and job loss due to COVID-19, as well as the oil industry crisis, which all continues to grip the Sooner State’s economy and families. For the …
Oklahoma tax revenues dropped in May with oil down 59% from a year ago
The coronavirus pandemic continued to make its presence known in this month’s Oklahoma Gross Receipts to the Treasury, State Treasurer Randy McDaniel announced as he released data showing a 14 percent drop in May revenue collections. Oil and gas gross production revenues plunged 59% from a year ago. Gross receipts for May total $923.1 million, …
Regulators’ “waste” order to last more than 2 months
The interim order issued by Oklahoma Corporation Commissioners this week allowing oil producers to voluntarily shut in producing wells because of low prices will last until early August. The move came in a 2-1 vote with Commissioners Todd Hiett and Dana Murphy in support while Commissioner Bob Anthony opposed the effort. The order, approved on …