A filing with the Securities and Exchange Commission shows Devon Energy board member Keith O. Rattie recently acquired 20,000 shares in the company. He acquired 10,000 shares valued at $14.05 each on March 6 and another 10,000 shares valued at $9 each on March 9. Rattie sits on the boards of Ensco PLC and Select …
The same day that Basic Energy Services Inc. in Forth Worth announced a loss of $88 million in the fourth quarter, the company bought Houston-based NexTier Oilfield Solutions Inc.’s Well Support Services group. Basic Energy paid $94 million in cash and notes. The NexTier production operations, known as C&J Well Services, were originally established in San …
The breadth of the impact of the oil price collapse reaches far beyond Oklahoma and Texas. It made headlines this week in New Mexico, a state that earlier estimated to receive $1 billion in oil and gas revenue for schools and hospitals. “Oil Price Plunge Wallops NM” read the headline in the Albuquerque Journal in …
Those tumbling oil prices mean one thing for consumers—cheaper gasoline prices. How cheap in Oklahoma? Cotton County in the southwest reports an average of $1.81 for a gallon of regular gasoline. Washington County in the northeast where Bartlesville is the county seat reports an average of $1.90 a gallon, according to AAA Oklahoma. Tulsa …
Every state that relies heavily on oil and gas production for government revenue has been slapped in the face by the dramatic plunge in oil prices. North Dakota is no different than Oklahoma. It has the Bakken oil fields, a play where Oklahoma City-based Continental Resources is one of the dominant players. As the Bismarck …
Recent filings with the Securities and Exchange Commission reflect the acquisition of OGE company shares by three of its executives. The filings were made by William H. Sultemeier who is General Counsel; Sarah R. Stafford who is Controller and Chief Accounting Officer; and Andrea M. Dennis, Vice President of T&D. Sultemeier acquired 2,271.713 shares while …
Oklahoma legislative leaders are certainly paying attention to the collapse in oil prices, something that has some oil and gas companies bringing a halt to oil exploration. Their worry is about the state budget and how gross production tax revenue will be affected. Rep Kevin Wallace chairs the House Appropriations and Budget Committee and as …
The $320 million purchase of upstream oil and gas assets of Alta Mesa Holdings,LP and its subsidiaries by an Oklahoma City company has encountered a hold up and a federal bankruptcy judge wants to know why. Apparently funding for the deal fell through this month. A hearing has been ordered for Thursday in South …
Houston’s Nine Energy Service, Inc. reported fourth quarter losses this week totaling more than $220 million. The announced its fourth quarter 2019 revenues were $163.4 million and adjusted EBITDA of $11.6 million. The revenues resulted in a net loss of $220.5 million or $7.51 per basic share. For the fourth quarter 2019, adjusted net loss was …
While some oil and gas companies aren’t offering many public comments in wake of the free fall of oil prices this week, at least one headquartered in the Permian Basin admits it has put drilling on hold. And another has cut its drilling operations. Ring Energy, Inc. based in Midland, Texas announced Tuesday it …
