May 10, 2022 archive

Completion reports for May 10, 2022

BLAINE COUNTY Staghorn Petroleum Ii Llc Mississippian: Oil 68 Gas 2887 Water 1336 Flow 32 18N 13W Lassen 17-13-05 1h, January 11, 2022 HH, GAS, TD: 15961 ft Lat: 35.98728, Long: -98.60941 API: 35011242760000 CREEK COUNTY Cartledge Energy Llc Red Fork(2150): Gas 150 Flow 5 16N 10E Cartledge Shelton 1, August 21, 2021 SH, GAS, TD: 3006 ft Lat: 35.89519, Long: -96.26523 API: 35037294430000 GRADY …

Continue reading »

Drilling permits for May 10, 2022

Custer County KAISER VAUGH #2-35-2-11XHM, May 09 2022 35 15N 14W NENWNENW API: 03922603 Lat: 35.73920378061673, Long: -98.6614660352389 CONTINENTAL RESOURCES INC MU, AM, 28470 ft, MISSISSIPPIAN(13085), WOODFORD(13910) Garvin County PRAIRIE #0404 33-28 3WXH, May 09 2022 33 4N 4W SENESWSE API: 04925360 Lat: 34.770850325364336, Long: -97.62134055694419 CPRP SERVICES LLC MU, DR, 19019 ft, WOODFORD(12900) Garvin County PRAIRIE …

Continue reading »

Crude prices slid for a 2nd straight day

Crude oil prices took another beating in Tuesday’s trading as U.S. prices dropped under $100, the second day for a fall and the lowest level in two weeks. West Texas Intermediate crude for June delivery fell $3.33 to $99.76 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude for July delivery tumbled …

Continue reading »

Earnings report released by Ascent Resources

  Oklahoma City-based Ascent Resources Utica Holdings, LLC released its first quarter 2022 financial report on Tuesday showing a net loss of $1.6 billion and adjusted net income of $81 million. The company’s adjusted EBITDAX was $280 million while the net loss was reported to have been largely driven by a $1.6 billion unrealized commodity …

Continue reading »

Rising ammonia costs stinging Oklahoma farmers

    It’s not just diesel fuel and gasoline costs that are smacking Oklahoma farmers directly in the checkbook. Consider the soaring cost of ammonia, the main source of nitrogen fertilizer. The U.S. Energy Information Administration reported this week that the price of ammonia has risen by a factor of six in the past two …

Continue reading »

How Devon Energy is cutting costs in the Delaware Basin

  A “first of its kind” is helping Devon Energy turn huge profits on its  Delaware Basin operations that are considered the company’s “growth engine” of the Permian Basin, The first of its kind? The company’s own sand mine. Located in Loving County, Texas, a county located at the south edge of the state line …

Continue reading »

Ovintiv to double shareholder returns

  While it reported a first quarter 2022 net loss of $241 million, Ovintiv Inc. still managed a 25% increase in its quarterly dividend. And it plans more drilling activity in Oklahoma. The company released its quarterly finance report this week stating it also plans to double shareholder returns resulting in 2022 returns of $1 …

Continue reading »

$4 gasoline hits Oklahoma

  The gas hike has hit Oklahoma—hard. More counties now have average gasoline prices of $4 or more than in previous months with the highest average in Coal County where motorists are paying an average $4.32 for a gallon of regular gasoline. The price jump fell in line with what’s happening nationally where the American …

Continue reading »

Appeals Court weighs Oklahoma’s challenge of Biden order

  Arguments were scheduled to be made Tuesday before a New Orleans federal appeals court in a challenge by Oklahoma and other states of President Biden’s suspension right after he took office of new oil and gas lease sales. The Associated Press reported the hearing was held after a federal judge blocked Biden’s executive order. …

Continue reading »

Williams takes aim at new investors

  Investors. It’s what major corporations are constantly seeking and the latest such effort by Williams Companies in Tulsa will be later in the month. Alan Armstrong, the company’s President and Chief Executive Officer will be joined by John Porter, Williams’ Chief Financial Officer as they take part in meetings with investors at the 2022 …

Continue reading »