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Permits to Drill May 5, 2016
Canadian County WEHMULLER 1307 #2-19MH, May 04 2016 19 13N 7W SESESWSW API: 01724901 Lat: 35.580709126769214, Long: -97.99112541172256 PAYROCK ENERGY LLC HH, DR, 15324 ft, MISSISSIPPIAN(9920) Grady County HINPARR 31-6-10-5 #1XH, February 10 2016 31 10N 5W NENENWNE API: 05124024 Lat: 35.30459226084271, Long: -97.76451866851458 LINN OPERATING INC HH, AM, 19642 ft, MISSISSIPPIAN(9652), WOODFORD(9696) Hughes County …
Devon Energy Posts 1Q Loss of $3.1 Billion
Devon Energy Corp. posted narrower losses for its first quarter on Tuesday, helped in part by a 36% decline in expenses as the oil and gas producer responded to depressed energy prices with a deep cut of its workforce according to The Wall Street Journal. During the three-month period ended in March, the Oklahoma City-based company …
Oklahoma Energy Index Remains Stable as Oil Prices Rise
Driven by increasing crude oil prices, the most recent Oklahoma Energy Index is holding steady after nine months of decline. The Oklahoma Energy Index, a measure of oil and natural gas industry activity, stood at 159.1 using data collected in March, a 0.3 percent decrease from the previous month’s reading. The modest decline marks the …
ONEOK Announces First Quarter 2016 Financial Results
Tulsa’s ONEOK Inc. on Tuesday reported profits of $83.4 million for the first quarter, or 40 cents a share in the first quarter, up roughly 37 percent compared to $60.8 million, or 29 cents a share earned for the same period a year ago. Tulsa pipeline company, ONEOK Partners LP, which owns one of the …
Supply Fears Drive WTI Crude Below $44 a Barrel
Oil futures fell for a third straight session Tuesday, pressured by renewed fears of a global supply glut triggered in part by reports that OPEC production rose in April, according to Bloomberg MarketWatch. West Texas Intermediate crude for June delivery on the New York Mercantile Exchange fell $1.13, or 2.5%, to settle at $43.65 a …
Completion Reports May 4, 2016
PITTSBURG COUNTY Petroquest Energy Llc Woodford(8237): Gas 7411 Water 953 Flow 13 7N 17E Cable 2-13h, November 18, 2015 HH, GAS, TD: 12981 ft Lat: 35.07375, Long: -95.46704 API: 35121247550001 Petroquest Energy Llc Woodford(8339): Gas 8283 Water 1557 Flow 13 7N 17E Cable 3-24h, November 19, 2015 HH, GAS, TD: 13421 ft Lat: 35.07375, Long: …
Permits to Drill May 4, 2016
Beckham County MCCURRY #3-21HB, May 03 2016 21 11N 25W SESESESW API: 00921978 Lat: 35.40841728779909, Long: -99.85042664097148 FOURPOINT ENERGY LLC HH, DR, 16984 ft, MO’AN (UP GRANITE WASH)(11705) Carter County WHEELER #155, May 03 2016 04 2S 2W NWSESWSW API: 01926219 Lat: 34.406556876280646, Long: -97.41957411937837 KODIAK OIL & GAS INC SH, DR, 2000 ft, HOXBAR(1300), …
Chesapeake Manufacturing Subsidiary Lays Off 98 Employees
A Chesapeake Energy Corporation subsidiary laid off 98 employees on Tuesday as part of the continued oil and natural gas industry slowdown. Oklahoma City-based Compass Manufacturing L.L.C. designs, manufactures, installs and sells natural gas compressor equipment. The company was formed in 2007 to supply Chesapeake Energy Corporation and MidCon Compression with natural gas production equipment, …
Reuters: Energy Transfer Taking Steps to Renegotiate Williams Acquisition
Energy Transfer Equity is taking steps that may enable it to renegotiate its $20 billion cash-and-stock acquisition of Williams Companies, Inc., Reuters reported late Monday evening. The companies are seeking to reduce the number of days specified for completing some of the deal’s administrative requirements, which would give them time to engage in renegotiation of terms …
Crude Oil Trades Below $45 Amid Concerns of Cushing Oil Surplus
Oil futures fell below $45 a barrel on Monday as traders sold some of their positions after a nearly 20% climb in April, according to Bloomberg MarketWatch. Data that reportedly shows a significant weekly rise in stockpiles at the Cushing, Oklahoma storage hub, rising output from major oil producers, and some downbeat U.S. economic figures …