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ConocoPhillips Will Eliminate 1,000 Jobs in Latest Round of Job Cuts
The world’s largest independent exploration and production company will lay off an additional 6 percent of its workforce by the end of the year. Houston-based ConocoPhillips announced that it will lay off another 1,000 employees in the latest round of job cuts. “We have been transparent with employees that we will have targeted workforce reductions …
Chesapeake Exits Barnett Shale With Multi-Million Dollar Deal
Oklahoma City-based Chesapeake Energy Corporation will exit the Barnett Shale through a divestiture involving Williams Partners LP and Saddle Barnett Resources LLC, according to a company press release issued on Wednesday. In a blockbuster deal designed to shore up expenses, Chesapeake will pay $334 million in cash to Williams in order to terminate its Barnett …
Inventory and Production Uptick Pushes Crude Oil Futures Lower on Wednesday
Oil futures sank to their lowest levels in a week on Wednesday as investors continued to focus on unfavorable inventory and production data, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude plunged $1.06, or 2.5%, to settle at $41.71 a barrel. On London’s ICE Futures Exchange, October Brent …
Completion Reports August 11, 2016
CARTER COUNTY Burton Paul Llc Deese(637): Oil 3 Water 5 Pump 23 2S 2W Daube Ranch 16-23, July 14, 2016 SH, OIL, TD: 1061 ft Lat: 34.37205, Long: -97.38666 API: 35019261970000 Burton Paul Llc Deese(638): Oil 2 Pump 23 2S 2W Daube Ranch 17-23, July 14, 2016 SH, OIL, TD: 1154 ft Lat: 34.37296, Long: …
Permits to Drill August 11, 2016
Blaine County MARRIOTT #1-26, August 10 2016 26 16N 12W S2N2SWNW API: 01123027 Lat: 35.83661660963216, Long: -98.45272263714274 CIMAREX ENERGY CO SH, RC, 9780 ft, ATOKA-MORROW(9440) Ellis County NIGHTENGALE 8 #12H, August 10 2016 08 20N 26W SESESWSE API: 04523622 Lat: 36.21761321601062, Long: -99.99384143115802 JONES ENERGY LLC HH, DR, 12554 ft, CLEVELAND(8068) Kingfisher County FIRESTONE #1-16MH, …
FL Utility Must Refund $24.5 Million Involved in PetroQuest Fracking Investment
A Florida utility must refund nearly $24.5 million to customers since the state’s highest court ruled that state regulators exceeded their authority by allowing recoupment of speculative investment charges involving a Louisiana-based hydraulic fracking company with Oklahoma holdings. Against staff recommendations, the Florida Public Service Commission unanimously approved guidelines last June allowing Florida Power & …
STACK, SCOOP and Leasing Weigh Heavily in Panhandle’s Future Despite 3Q Loss
Oklahoma City-based Panhandle Oil and Gas Inc. reported a third quarter net loss of $787,000, or a loss of 5 cents per share, on Monday, according to a company press release. The oil and gas company reported a net loss of $729,000, or a loss of 4 cents per share, for the same quarter a …
WTI, Brent Fall on News of Government Data Reports
After reaching a two-week high, crude oil futures retreated on Tuesday as traders pondered government data reports suggesting an increase in inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, West Texas Intermediate crude futures for September delivery fell 25 cents, or 0.6%, to settle at $42.77 a barrel. October Brent crude, the …
Completion Reports August 10, 2016
ALFALFA COUNTY Sandridge Exploration & Production Llc 27 27N 11W Presley Swd 1-27, May 12, 2016 SH, DISP, TD: 7464 ft Lat: 36.78338, Long: -98.36724 API: 35003221630003 DEWEY COUNTY Jma Energy Company Llc Douglas(7097): Oil 2 Gas 22 Flow 30 17N 17W Collier Farms 1-30, June 27, 2016 SH, OIL, TD: 7650 ft Lat: 35.92300, …
Permits to Drill August 10, 2016
Grady County VINSON #3-22X27H, August 08 2016 15 3N 5W SWSESWSW API: 05124058 Lat: 34.7254450953364, Long: -97.71837898627595 VITRUVIAN II WOODFORD LLC HH, DR, 26260 ft, SYCAMORE(15014), WOODFORD(15210), HUNTON(15455) Grady County STRASSLE #1-28-33XH, August 09 2016 21 7N 5W NWSESWSW API: 05124059 Lat: 35.06030330307087, Long: -97.73807225648864 CONTINENTAL RESOURCES INC HH, DR, 21375 ft, SPRINGER(10816), MISSISSIPPIAN(11184) Grady …