Chesapeake Energy’s $700 million sale of its assets in the Eagle Ford play of South Texas won’t be finalized until later this year. The sale was to SilverBow Resources, Inc., a firm that indicated following Monday’s announcement that the acquisition will add $825 to $925 million of pro forma in the next 12 months …
August 15, 2023 archive
Empire saw 2Q losses despite increased oil production
While Tulsa’s Empire Petroleum reported second quarter increases in oil production, thanks largely to an expanded effort in North Dakota, the energy company also reported losses. The second quarter earnings report released this week indicated Empire’s reported revenue of $9.7 million was also a net loss of $2.5 million or 11 cents a share. Its …
Oklahoma Broadband Office hits reset button
The Oklahoma Broadband Office is starting all over on its list of projects to be considered for a preliminary allocation of $382 million in American Rescue Plan Act money. It decided to do so following concerns of the members of its governing board as well as complaints from internet service providers. Executive director Mike …
Oil production to fall in major oil plays in US and Oklahoma
Oil production from the nation’s major oil producing areas, including the Anadarkao Basin and the Permian Basin, is expected to decline in the coming months according to a new federal government report. The Anadarko’s daily production is forecast to fall from 436,000 barrels a day to 434,000 barrels daily by September. The production in …
Other energy updates
** Hawaiian Electric faces scrutiny and lawsuits for not de-energizing power lines as high winds and dry conditions gripped Hawaii in the leadup to the deadly Maui wildfires. ** A Montana judge ruled Monday that the state is violating its residents’ right to a clean environment, delivering a major victory to the 16 kids, teens and young adults behind …
Report indicates oil patch workers aren’t likely to leave for green energy jobs
A new report shows the number of oilfield workers in Oklahoma, Texas and Louisiana leaving the “dirty job” industry to work in so-called “green” jobs is less than 1% of all workers. The likelihood of those workers leaving the oil patch isn’t great, according to a new working paper from the National Bureau of …
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