April 23, 2022 archive

BLM withholds 135,000 acres in Colorado for oil and gas leasing

  The Bureau of Land Management is withholding more than 135,000 acres of federal land for resumed oil and gas leasing in the interest of protecting greater-sage-grouse. The BLM says 5,276 acres will be included in the sale of oil and gas leases but wants to defers plans to lease the 135,000 acres while it …

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Not much change in Oklahoma and US rig counts

  Rig activity across Oklahoma and the U.S. didn’t see much of an increase in the past week according to Baker Hughes. Oklahoma was unchanged at 51 rigs while the U.S. numbers increased only two to 695 oil and gas rigs. The number of oil rigs grew by one to 549 while the number of …

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Cypress Environmental lands financial rescue

  A lifeline was thrown to financially struggling Cypress Environmental Partners, L.P., the firm that publicly expressed concerns it might have to financially reorganize if it didn’t get help from its lenders over its more than $58.1 million debt. The Tulsa-based company announced its senior secured debt with seven existing lenders was acquired 100% by …

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Raytheon’s overpayment on taxes to be refunded

The Oklahoma Supreme Court reversed a decision by the Oklahoma Tax Commission ordering it to make a more than $321,000 refund to defense contractor Raytheon because of a mistaken tax overpayment. The decision stems from Raytheon’s 2012 tax payments of $626,965 due on March 15, 2013. Raytheon discovered an accounting error in an overpayment of …

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LyondellBasell announces plans to exit refining business

  LyondellBasell says it’s getting out of the refinery business and will cease operation of its Houston Refinery no later than December 31, 2023. In the interim, the company said it will continue serving the fuels market, which is expected to remain strong in the near-term, and consider potential transactions and alternatives for the site. “After …

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Laredo Petroleum proposed increase in shares

  Tulsa’s Laredo Petroleum is asking shareholders to allow an increase in corporate shares to 40 million. In another proxy statement filing Friday with the Securities Exchange Commission, the company said the Board of Directors wanted to increase company shares from the current 22,500,000 and that the request was “routine.” The company’s scheduled annual meeting …

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Crude prices slipped on Friday and took OK energy stocks with them

  Crude oil prices closed the week with a drop following renewed diplomacy over Russia’s bloody invasion of Ukraine. They ended with a nearly 4% drop for the week, caused by a number of things including weaker global growth, COVID-19 lockdowns in China, and of course, the war in Ukraine.   West Texas Intermediate crude …

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Completion reports for April 22, 2022

CANADIAN COUNTY Camino Natural Resources Llc Mississippian(10090): Oil 178 Gas 864 Water 2051 Flow Mississippian(10090): Oil 68 Gas 1231 Water 123 Flow 23 11N 7W Turner Falls 23-14-1mxh, October 02, 2020 HH, GAS, TD: 18133 ft Lat: 35.41288, Long: -97.91671 API: 35017256230003 Citizen Energy Iii Llc Various Commingled Formations: Oil 196 Gas 1014 Water 1536 Flow 33 11N 7W Whirlaway 4h-33-4-9, June 30, 2021 HH, OIL, TD: 20120 ft Lat: …

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Permits to drill for April 22, 2022

Alfalfa County SCHWERDTFEGER A #1-30, April 22 2022 30 29N 12W CS2S2 API: 00323410 Lat: 36.95850966226272, Long: -98.53595278384395 TRANS PACIFIC OIL CORPORATION SH, DR, 5600 ft, TONKAWA(4100), LANSING-KANSAS CITY(4380), OSWEGO 404OSWG 4632 8 VIOLA(5350), CHEROKEE GROUP(4780), MISSISSIPPIAN(4900), MISENER(5290), SYLVAN DOLO(5305) Carter County DIRE STRAITS #1-30, April 22 2022 30 3S 2W W2E2NESW API: 01925353 Lat: 34.26534116217904, Long: …

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Other US and world energy headlines

** President Biden commemorated Earth Day on Friday by unveiling a raft of new policies to combat deforestation, including the signing of an executive order that safeguards old-growth forests on federal lands. ** More than 80 percent of oil and gas well completions in the United States were horizontal or directional in 2021, and although the total number …

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