Tulsa’s NGL Energy Partners reported a third quarter loss of $380.4 million and a drop in operating income it blamed on the rejection of contracts with Extraction Oil and Gas. The company compared the loss to the $49.1 million in income in the third quarter of Fiscal 2020. NGL also said income fell …
There seems to be no letup in the 2020 drilling activity Ovintiv Mid-Continent Inc. has revealed in new completion reports filed with the Oklahoma Corporation Commission. The latest were two Kingfisher County wells in the STACK with combined production of nearly 2,300 barrels of oil a day. The two South Stangl 1509 wells, drilled …
While more states and some members of congress take steps to fight President Biden’s anti-fossil fuel moves, oil prices in the U.S. and in Europe rose again. West Texas Intermediate crude for March delivery rose 39 cents to $58.36 a barrel in Tuesday’s trading on the New York Mercantile Exchange. Global benchmark Brent crude …
Chesapeake Energy Corporation announced Tuesday it has successfully emerged from the $9 billion Chapter 11 bankruptcy it filed last year, coming out with $1.2 billion left in debt and a new board of directors. “Today marks a new day for Chesapeake,” said Doug Lawler, Chesapeake’s President and Chief Executive Officer. The new Chesapeake Energy, …
While Oklahoma Gov. Kevin Stitt signed his own executive order defying President Biden’s executive orders against the fossil fuel industry, Texas Gov. Greg Abbott did the same. And in Texas, the State General Land Office Commissioner George P. Bush announced formation of the Texas Defense Task Force to identify federal overreach and “fend …
President Biden’s EPA nominee Michael Regan is likely to win full Senate confirmation but he won’t have the support of Oklahoma U.S. Sen. Jim Inhofe who came out against him in Tuesday’s vote of the Senate Environment and Public Works Committee. At least five other senators joined Inhofe in opposing Regan’s nomination which was …
Colorado’s freshman congresswoman Lauren Boebert has joined others in the U.S. House in introducing legislation to reverse the President’s ban on new oil and gas leasing on federal lands and water. She called her measure the Protecting American Energy Jobs Act, one that would not only stop Biden’s 60-day moratorium on new mining plans …
** The U.S. Army Corps of Engineers on Monday asked a federal judge to delay a hearing on a temporary shutdown of the Dakota Access oil pipeline, citing the changeover in personnel with the new administration. U.S. District Judge James Boasberg asked the Corps to outline its plans after an appeals court two weeks ago backed Boasberg’s …
Murphy Oil’s CEO and President Roger W. Jenkins is taking a 25% cut in pay as the company, now headquartered in Houston, announced several compensation decisions affecting the company’s executives. In making the announcement, the company, formerly headquartered in El Dorado, Arkansas said the changes were driven by changes in the company’s asset portfolio, …
– Halliburton’s collaborative effort to advance cleaner and affordable energy—Halliburton Labs–announced this week the companies chosen to take part in the move. Enexor BioEnergy, Momentum Technologies and OCO Inc. will be given access to Halliburton’s deep business and technical expertise, facilities and network. They are the companies chosen to take part part in the …
