May 5, 2022 archive

Completion reports for May 5, 2022

MCCLAIN COUNTY Cprp Services Llc Mississippian(10600): Oil 593 Gas 311 Water 540 Gas Lift 3 5N 4W Choate 0504 03-10-2mxh, January 20, 2022 HH, OIL, TD: 18026 ft Lat: 34.93414, Long: -97.60363 API: 35087223210000 Cprp Services Llc Woodford(10745): Oil 1084 Gas 1125 Water 1267 Gas Lift 3 5N 4W Choate 0504 03-10-3wxh, January 20, 2022 HH, OIL, TD: 18355 ft Lat: 34.93414, Long: -97.60356 API: 35087223220000

Permits to drill for May 5, 2022

Kingfisher County LINCOLN NORTH UNIT #11-3HO, May 05 2022 27 18N 5W SESESWSW API: 07326860 Lat: 36.000601611827584, Long: -97.7251238087348 HINKLE OIL & GAS INC HH, DR, 11710 ft, OSWEGO(6012) Mcclain County KENT MU16 28-21 #4HX, May 05 2022 33 7N 2W SENENWNE API: 08722356 Lat: 35.04325531317294, Long: -97.41139837654123 LRR IV OPERATING INC MU, DR, 18502 ft, WOODFORD(7600) …

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Crude prices respond to EU ban of Russian oil

  Crude oil prices responded positively to news that the European Union is closer to a ban on Russian oil on the same day that natural gas prices hit their highest mark since the summer of 2008. But it had the reverse impact on Oklahoma energy stocks. West Texas Intermediate crude for June delivery went …

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SandRidge Energy reports earnings while returning wells to production

  SandRidge Energy, Inc. announced first quarter 2022 net income of nearly $35 million after returning more than 100 wells to production since the beginning of 2021 after they had been shut down due to the commodity price downturn. The Oklahoma City company reported first quarter net income of $34.7 million or 95 cents a …

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Gov. signs bill increasing cap on county roads and bridge cost estimates

A bill that increases the cap on costs for county road and bridge projects before engineering plans are required was signed into law by Gov. Kevin Stitt. House Bill 3740 by Rep. Steve Bashore, R-Miami, raises the estimated cost threshold before engineering plans and specifications are required to be submitted by county engineers. Estimated costs …

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$598 million in 1Q earnings for Continental Resources

  Continental Resources President and CEO Bill Berry called the company’s first quarter earnings “outstanding” and he wasn’t wrong. Here’s what made it “outstanding.” It had $1.5 billion cash flow from operations in addition to $1.15 billion in free cash flow. The company reported $597.8 million in net income or $1.65 per diluted share along …

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PSO honored by EPA

  Public Service Company of Oklahoma announced it has been selected as a 2022 ENERGY STAR Partner of the Year winner for Sustained Excellence. This award is reserved for ENERGY STAR partners demonstrating outstanding leadership, year over year, from the U.S. Environmental Protection Agency and the U.S. Department of Energy. “The 2022 ENERGY STAR award recognizes …

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Gains made in drilling activity in the U.S.

  Drilling activity in the Appalachian region of the U.S. is at its highest level since 2019 and two Oklahoma firms are among the most active operators. Chesapeake Energy has five rigs according to Enverus Rig Analytics which released its nationwide rig count this week. Ascent Resources Utica is one of five operators running with …

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Wind farm operator ALLETE reports jump in earnings

  Wind-farm operator ALLETE, Inc., the Minnesota-based company with major operations in Oklahoma reported first quarter 2022 earnings of $66.3 million or $1.24 per share, a gain from the nearly $52 million and 99 cents a share a year ago. ALLETE operates the 303 MW Caddo Wind farm in southwestern Oklahoma and the 303-MW Diamond Spring …

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Big earnings for ConocoPhillips

  ConocoPhillips joined other major oil and gas firms in reporting billions of dollars in profits in the first quarter of the year. The company had earnings of $5.8 billion or $4.39 a share, far better than the $1 billion and 75 cents a share earnings in the first quarter of 2021. Excluding special items, …

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