One of the Permian Basin operators says it too is cutting capital expenditures and drilling activity because of the plunging oil prices. Word came from Matador Resources Company which indicated its drilling efforts will be cut in half for the rest of 2020. Executives are also taking cuts in pay. The company said it will …
ALLETE Clean Energy has expanded its holdings of wind energy projects in Oklahoma by buying the 303 megawatt Caddo Wind farm in the western part of the state. The Minnesota-based company made the purchase from Apex Clean Energy and plans to sell power to three Fortune 500 customers to be announced at a later date. The …
Murphy Oil Corporation based in El Dorado, Arkansas has joined other oil and gas firms in cutting its capital expenditures for the rest of the year because of the massive drop in oil prices. It’s cut the 2020 budget by 35% and layoffs are being made in Texas. The company announced Thursday it had …
The oil crisis has prompted Oklahoma City’s Devon Energy to cut its capital expenditure budget for 2020 by nearly 30 percent. And it means less activity in the STACK. The company announced Thursday it initiated an immediate decrease of $500 million from the full-year 2020 budget. The revised capital budget is now approximately $1.3 billion. …
Panhandle Oil and Gas Inc. confirmed this week the resignation of Robb P. Winfield, the company’s Vice President, Chief Financial Officer, Controller and Corporate Secretary. Winfield resigned on March 9 after being the company’s Controller since February 2008. He had been named VP and CFO in January 2017. The company’s board appointed Ralph D’Amico …
“We’re not asking for a handout—we want a level playing field.” It’s what Harold Hamm, founder of Oklahoma City’s Continental Resources says as the Trump administration considers way to help the country’s oil and gas industry in the pricing crisis. Interviewed this week on the Bloomberg Markets show with Alix Steel, Hamm accused Saudi Arabia …
Completion reports filed on March 11, 2020. ALFALFA COUNTY Bce-mach Llc Mississippian(5632): Oil 63 Gas 688 Water 1575 Gaslift 35 26N 11W Herren 35-26-11 2h, September 26, 2019 HH, OIL, TD: 10516 ft Lat: 36.68155, Long: -98.35671 API: 35003233800000 Bce-mach Llc Mississippian(5674): Oil 162 Gas 413 Water 852 Gaslift 36 26N 12W Clifford 36-26-12 4h, October 16, 2019 HH, OIL, TD: 10641 ft Lat: 36.69495, Long: …
Permits to drill issued on March 11, 2020. Creek County JOSEPH KENNEDY #5, March 27 2017 02 17N 7E CSWSWSE API: 03729370 Lat: 35.97475349748253, Long: -96.53801683210197 BAUGH ALLAN L SH, AM, 3150 ft, OSWEGO(2170), PRUE(2300), SKINNER 404SKNR 2400 8 WILCOX(2800), RED FORK UP(2500), RED FORK LOW(2570), BARTLESVILLE(2620), TUCKER(2790) Dewey County ADAMS 24/13-19-14 #1H, October 01 2018 …
Tulsa’s WPX Energy has completed its previously announced acquisition of Felix Energy, which has operations in the eastern portion of the Permian’s Delaware Basin. The acquisition was overwhelmingly approved by WPX shareholders at a special meeting held on March 5, 2020, where more than 99.6 percent of votes cast were in favor of the …
Chaparral Energy, Inc. announced it achieved fourth quarter 2019 production but still reported a net loss of $189.2 million or $4.14 per share. The Oklahoma City’s net loss for all of 2019 totaled $468.9 million or $10.28 per share. In light of the collapse of oil prices this week, the company said it would not …
