Oklahoma Congresswoman Stephanie Bice says the White House has been “dishonest” in its claims the oil and gas industry is sitting on 9,000 federal drilling permits and is partially to blame for rising gasoline prices. In a speech on the House floor this week, the 5th District U.S. Representative charged the Biden administration, especially …
March 2022 archive
Chesapeake finalizes $2.6 billion acquisition
Chesapeake Energy Corporation announced it has completed its previously announced acquisition of Chief E&D Holdings, LP and associated non-operated interests held by affiliates of Tug Hill, Inc. The Oklahoma company announced in January it would buy the natural gas producer and some non-operated stakes held by Tug Hill in a nearly $2.6 billion cash …
ONEOK executive appointment made
Executive leadership changes have been announced by ONEOK. The company said Kevin L. Burdick will become Executive Vice President and Chief Commercial Officer as of March 28. In turn, Burdick will be responsible for all ONEOK commercial activities and continue to report to Pierce H. Norton, II, President and CEO. Scott Schingen, Senior Vice …
Oklahoma House approves landmark autonomous vehicles bill
The Oklahoma House of Representatives has passed legislation authorizing the operation of fully autonomous vehicles on public roads. Authored by Rep. Nicole Miller, R-Edmond, House Bill 3317 creates a comprehensive framework for Oklahoma to regulate the use of autonomous vehicles (AVs) to protect the public and infrastructure. “AV technology already exists and it’s already …
Completion reports for March 9, 2022
completions: none were processed today
Permits to drill for March 9, 2022
Canadian County HUNTER 1206 #3LMH-18, December 15 2021 18 12N 6W SESESESW API: 01725742 Lat: 35.50862246840793, Long: -97.875914096374 CHAPARRAL ENERGY LLC HH, AM, 14500 ft, MISSISSIPPIAN(8886) Craig County FRED HARTLEY #24-20B, March 09 2022 20 27N 19E NWNESESW API: 03521575 Lat: 36.80360156339167, Long: -95.29794474414672 NEOK PRODUCTION COMPANY LLC SH, DR, 1175 ft, BARTLESVILLE(302), MISSISSIPPI CHAT(537), ARBUCKLE(952) Lincoln …
Hamm buys another $20 million in his company
More than 3 months after billionaire oilman Harold Hamm bought more than $11 million in shares of Continental Resources, the company he founded in 1967, he’s bought another nearly $20 million in company stocks. A filing with the Securities and Exchange Commission shows Hamm, on March 7 and 8, paid $19,965,342 for 336,844 shares. …
Earnings keep improving for SandRidge Energy
SandRidge Energy’s fourth quarter earnings helped boost the company’s 2021 net cash by $131.3 million compared to 2020 losses, stated the Oklahoma City firm on Wednesday. Net cash for the year reached $139.5 million which represented net cash of $3.80 per share of common stock. Its adjusted EBITDA was $113.5 million in …
Crude prices slide down to $110 a barrel
Crude oil prices across the U.S. and the world dropped 11% in Wednesday’s trading after the United Arab Emirates indicated it would support increasing output amidst Russia’s invasion of Ukraine. West Texas Intermediate crude for April delivery plunged $15 to $108.70 a barrel on the New York Mercantile Exchange. Over the weekend, WTI prices …
Crude supplies slip again at Cushing
Just as the nation’s crude supplies slipped in the past week, so has the amount of crude oil in storage at the Cushing Hub in northern Oklahoma. The latest petroleum report from the U.S. Energy Information Administration showed Cushing’s oil supplies fell from 22.8 million barrels a week ago to 22.2 million barrels this …