Permits to drill issued on February 4, 2020. permits: none were processed today
2020 archive
Coronavirus blamed for drop in oil prices
Oil prices fell below the $50 mark this week and many experts are blaming the downward slide on the coronavirus outbreak that has spread from China. It’s become a demand issue rather than oversupply. However, prices attempted a slight rebound on Tuesday as West Texas Intermediate crude for March deliver was up 32 cents …
Helmerich and Payne reports increased net income
Tulsa’s Helmerich & Payne announced first quarter fiscal year results showing a net income of $30.6 million or 27 cents per share, up from the $19 million and 17 cents a share reported in the same quarter the previous year. The net income in the most recent quarter was from operating revenues of $615 million …
Winter storm warning for large part of Oklahoma
Snow is still in the forecast for a large part of Oklahoma. So is a winter storm warning. It appears most of the snowfall will march up the I-44 corridor from the southwest corner of the state to the northeast Some forecasters say amounts could still be in the range of 6 to 8 inches. …
Energy news in brief
** The northern part of the Permian Basin in west Texas is getting an office of the Texas Railroad Commission. Regulators plan to open an oil and gas field office in Lubbock. ** An Illinois college expects to save $100,000 by installing an 11-acre, 2.09 MW solar project. ** A settlement between Tesla and the state of Michigan allowing …
Energy industry’s natural gas flaring increased in 2019
Natural gas flaring in U.S. oil and gas fields grew in 2019 for the third consecutive year, thanks largely to increased oil and gas production in Oklahoma, Texas, New Mexico and North Dakota. In the Permian Basin underlying Texas and New Mexico, the largest U.S. shale basin, flaring and venting totaled about 293.2 billion cubic …
$40 million oil drilling simulator donated to North Dakota University
Petroleum engineering students at the University of North Dakota will have real hands-on experience working on an oil derrick. The University’s Petroleum Engineering Department has received a $40 million full-scale oil drilling simulator and lab, courtesy of Sidney Green, entrepreneur, founder and president of Enhanced Production Inc. based in Salt Lake City. The donated …
Wind farm operator gets first woman CEO
Minnesota-based Allete Inc., the company that owns the Diamond Spring Wind farm located east of Ardmore, Oklahoma has its first woman CEO. Allete is the parent company of Minnesota Power and company president Bethany Owen became the first woman to hold the position. She replaces Al Hodnik who is retiring. “I am humbled and excited …
First commercial solar project approved in South Dakota
While Oklahoma has yet to lay the groundwork for the state’s first commercial solar project, the first commercial solar power project in South Dakota won approval this week from state regulators but the $115 million project won’t be operational until sometime in 2021. The South Dakota Public Utilities Commission, on a vote of 3-0 okayed …
Drop in 4Q earnings reported by ConocoPhillips
ConocoPhillips reported a drop in fourth-quarter 2019 earnings while full-year earnings increased. For the quarter, the company said earnings were $0.7 billion or 65-cents a share, down from the $1.98 billion and $1.61 per share earnings reported n the fourth quarter of 2018. Adjusted fourth-quarter 2019 earnings were $0.8 billion or 76-cents a share, …