August 19, 2022 archive

Ovintiv’s continued success in Kingfisher County

  Kingfisher County remains a gold mine for Ovintiv Inc. The company filed completion reports in recent days showing two wells on a single pad, each with production of more than 1,300 barrels of oil a day. That’s a combined 2,600 barrels of oil from the same pad. Unless of course, Ovintiv files another completion …

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Investors sought by LSB Industries

  LSB Industries headquartered in Oklahoma City is actively looking for investors. The company announced it plans to take part in the upcoming Seaport Research Partners Annual Summer Investor Virtual Conference. LSB President and CEO Mark Behrman will take part in the event on Tuesday, August 23 beginning at 8:30 a.m. Central Time. He will …

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Other headlines

** U.S. oil and gas companies generated profits worth $73.7 billion last year on the back of improving prices, with capital expenditure reaching $144.1 billion. ** A state of Michigan lawsuit that aims to force Enbridge Inc to stop operating the Line 5 oil pipeline underneath the Straits of Mackinac in the Great Lakes will be …

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City of Norman considers lawsuit against Turnpike Authority

  The Oklahoma Turnpike Authority could very well be hauled into court by the city of Norman over the agency’s plans for a new turnpike project that would go through some areas of the city. Fox 25 News reported Norman city leaders are considering a lawsuit. Click here for Fox 25 News

NOG is buyer of Laredo Petroleum divestiture in Texas

  Laredo Petroleum revealed in a filing with the Securities and Exchange Commission its sale of more than 1,600 acres of holdings in the Permian Basin announced earlier in the week was to Northern Oil and Gas, Inc. In the SEC filing, Laredo made the revelation. The Tulsa-based company had not revealed the identity of …

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Hiring details revealed in naming of Lawler to be Continental Resources President

  A Securities and Exchange filing late Friday by Continental Resources revealed more details about the promotion of Robert Lawler to be the firm’s President and Chief Operating Officer. The filing indicated the appointment announced August 17 and approved by the Board of Directors means Lawler will transition as Continental’s President while William B. Berry …

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Crude barely held own on Friday while OK energy stocks were weak

  U.S. crude oil prices made a slight gain on Friday but prices still fell after a week of trading. Oklahoma energy stocks had a weak day in trading, just one day after recording some large gains. The decline for the week came on worries that an economic slowdown might weaken demand for crude oil. …

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Baker Hughes reports national rig count slipped by one

  Oklahoma was unchanged in its oil and gas rig count in the past week while nationally, Baker Hughes Co. reported a decline of one resulting in a nationwide count of 762. Oklahoma had 65 active rigs in the past week compared to a year ago when the count was only 30. Nationally, the number …

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Federal Judge permanently blocks Biden leasing pause in lawsuit by Oklahoma and other states

  A federal judge in Louisiana overruled a Circuit Court judge’s ruling made in the past several days putting the lawsuit by Oklahoma and nearly a dozen other states challenging Biden’s moratorium on new oil and gas leases back into play. Judge Terry Doughty of the Western District of Louisiana issued a permanent injunction against …

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Oil and gas firms made a lot of money last year

  A new report claims U.S. oil and gas companies generated nearly $74 billion in profits in 2021 while capital expenditure reached more than $144 billion. The report from EY titled  “U.S. oil and gas reserves, production and ESG benchmarking study” according to Click here for