Author's posts
OKOGA Weighs In on House Passage of HB 1085x
The passage of HB 1085x, a revenue raising bill that passed on the floor of the Oklahoma House of Representatives on Wednesday during special session, has evoked a response from the Oklahoma Oil and Gas Association about raising the gross production tax rate on more than 6,600 legacy wells to 7 percent. “With this bill, …
Chesapeake Confirms 3-Year DOJ Probe Has Ended
Oklahoma City-based Chesapeake Energy Corporation reports that the U.S. Department of Justice has wrapped up a lengthy three-year probe of its land purchase and mineral royalty payment practices by taking no further action. According to the company’s Form 10-Q filing with the U.S. Securities and Exchange Commission submitted on Thursday, the DOJ informed Chesapeake on …
OGE Energy Corp. Reports Third Quarter Earnings
Oklahoma City-based OGE Energy Corp. reported earnings of $183 million or $0.92 per diluted share for the three months ended September 30, 2017, according to a company press release issued on Thursday. This compares with $184 million or $0.92 per diluted share for the third quarter of 2016. OG&E, a regulated electric utility, contributed earnings of $0.81 per share in the third …
Crude Oil Futures Soar on Thursday
Oil futures continued to show gains on Thursday as prices rise to their highest finish since 2015, according to Bloomberg MarketWatch. December West Texas Intermediate crude added 24 cents, or 0.4%, to settle at $54.54 a barrel on the New York Mercantile Exchange. January Brent crude, the global benchmark, rose 13 cents, or 0.2%, to finish at …
SandRidge Announces Improved Efficiencies in Third Quarter Results
Oklahoma City-based SandRidge Energy Corporation reported a net loss of $8 million, or $0.25 per share, and net cash provided by operating activities of $44 million for the third quarter of 2017, according to a company press release issued Wednesday. When adjusting reported amounts for items that are typically excluded by the investment community on the basis that such …
Slight Drop Recorded in Crude Oil Settlements on Wednesday
Oil futures slid on Wednesday as concerns rose that domestic crude producers will increase output as settlement prices soar, according to Bloomberg MarketWatch. December West Texas Intermediate crude shed 8 cents, or less than 0.2%, to settle at $54.30 a barrel on the New York Mercantile Exchange. It climbed to as high as $55.22 in early …
Up, Up and Away! Crude Oil Futures Settle Higher on Tuesday
Oil continued to climb on Tuesday as settlements rose to yet another two-year high, according to Bloomberg MarketWatch. December Brent crude, which expired at the session’s settlement, added 47 cents, or 0.8%, to finish at $61.37 a barrel on ICE Futures Europe Exchange. The January contract tacked on 35 cents, or 0.6%, for a settlement of $60.94 …
Devon Reports 3Q 2017 Earnings of $228 Million
Oklahoma City-based Devon Energy Corporation’s third quarter ended on a positive note, with $228 million in net earnings, or 43 cents a share, for the third quarter of 2017, according to a company press release issued on Tuesday. This figure is down sharply from $993 million, or $1.89 a share, in the third quarter of …
Crude Oil Prices Climb on Monday
Oil prices continued to rise on Monday as the global crude benchmark extended its surge above $60 a barrel to reach heights not seen in more than two years while the U.S. benchmark ended at an eight-month high, according to Bloomberg MarketWatch. December Brent crude, the global benchmark, rose 46 cents, or 0.8%, to settle at …
OKOGA Warns Against Actions by Sierra Club, EarthWorks
A leading Oklahoma energy industry association is striking back at two oppositional groups. In a Saturday op-ed published by The Journal Record, Chad Warmington, president of the Oklahoma Oil and Gas Association, alleged the Sierra Club and EarthWorks conspired in a publicity stunt by releasing misleading videos giving the appearance of improper emissions leaking from …
