SandRidge Energy reported only a slight gain in earnings in the third quarter report issued this week but returned more wells to production following a shutdown in 2020. The company reported its adjusted EBITDA was $54.8 million compared to $53.7 million in the previous quarter. Net income for the third quarter …
November 3, 2022 archive
Continental offered strong 3Q report as Hamm continues with private takeover
Just as billionaire Harold Hamm and his family prepare to take full control of Continental Resources and end public control, the Oklahoma City company reported a strong third quarter earnings. Cash flow from operations totaled $2.22 billion while free cash flow was $1.01 billion. Net income for the quarter came to $1.01 billion or …
Crude storage grows at Cushing Hub
U.S. crude oil storage dropped in the past week while there was an increase in the amount of oil stored at the Cushing hub in northern Oklahoma. The EIA reported Cushing’s total of oil in storage as of Oct. 28 was 28.2 million barrels, up from the 26.9 million barrels reported as of Oct. 21 of …
Energy Transfer exec compares Biden administration to Saturday Night Live skit
You might not blame Energy Transfer LPL executive officer Marshall McCrea for using an earnings conference to blast President Biden, comparing his administration’s attacks on the oil and gas industry to a “Saturday Night Live skit.” He’s the co-chief executive at Energy Transfer and used the Tuesday conference call to complain about what he …
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