** Southeast Texas player Yuma Energy is not doing reorganization, it’s liquidating. The Delaware corporation — which according to documents consulted by The Texas Energy Report, lists a Houston address — has had its voluntary Chapter 11 petition for relief under US bankruptcy laws converted to a Chapter 7 liquidation in Bankruptcy Court for the Northern District …
October 2020 archive
Mid-Con Energy merging with Contango Oil and Gas
The oil and gas industry’s latest merger, that of Tulsa’s Mid-Con Energy Partners and Fort Worth-based Contango Oil and Gas should be completed by early next year according to officials involved in the all-stock deal valued at about $400 million. The combined company will be headquartered in Fort Worth, TX but will continue to …
Wheeler calls on DOJ to investigate Greens
EPA Administrator Andrew Wheeler has asked the Justice Department to investigate several environmental groups over concerns they were receiving secret funding from foreign governments, such as China and Russia. POLITICO reported that Wheeler on Monday asked the Justice Department to investigate several environmental groups, including the Sierra Club and the Sunrise Movement, over concerns they …
Boil order lifted in SE Oklahoma
The boil order for the Sardis Lake Water Authority in southeast Oklahoma has been lifted by the Oklahoma Department of Environmental Quality. The DEQ, in an announcement this week said the water is now safe for human consumption. This order was issued due to high turbidity and an inadequate water treatment process. State and …
Barrett on the bench—set to hear energy cases
After being confirmed to the Supreme Court by the U.S. Senate Monday night on a 52-48 vote, Justice Amy Coney Barrett will leap right into cases involving the environment and energy, not to mention the more controversial Affordable Care Act, better known as Obamacare. She received the support of Oklahoma U.S. Sens. Jim Inhofe …
Oklahoma voters to decide a Corporation Commission race
Oklahoma voters will decide next week whether Corporation Commission chairman Todd Hiett should stay in office or be unseated by Libertarian Todd Hagopian. As the political news website NONDOC described the race, it was one of the “Battle of the Todds.” Click here to view the NonDoc story.
National Oilwell Varco reports third quarter 2020 loss of $55 million
National Oilwell Varco, Inc. reported third quarter 2020 revenues of $1.38 billion, a decrease of seven percent compared to the second quarter of 2020 and a decrease of 35 percent compared to the third quarter of 2019. Net loss for the Houston-based company in the third quarter of 2020 improved $38 million sequentially to $55 …
NGL Energy Partners Announces Quarterly Distributions
NGL Energy Partners LP announced Tuesday that the Board of Directors of its general partner has declared a quarterly distribution of $0.10 per unit, or $0.40 per unit on an annualized basis, for the quarter ended September 30, 2020. This cash distribution is payable on November 13, 2020 to common unitholders of record at …
BP returns to profit after worst quarter
BP posted a modest $86m (£66m) profit in the third quarter, beating analyst expectations, thanks to higher oil prices and a recovery in fuel sales. The oil giant reported a $86m underlying replacement cost profit, its definition of net income, after analysts had predicted the FTSE 100 company would swing $120m into the red reported The Telegraph. …
Completion reports for October 26, 2020
Completion reports issued on October 26, 2020. DEWEY COUNTY Comanche Exploration Co Llc Mississippian(8948): Oil 195 Gas 2251 Water 1993 Flow 1 18N 14W Thompson 1-1h, November 19, 2019 HH, OIL, TD: 14484 ft Lat: 36.05869, Long: -98.64346 API: 35043236770000