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ConocoPhillips Completes Acquisition of Concho Resources
The more than $13 billion acquisition of Concho Resources by ConocoPhillips was completed in recent days. The acquisition adds 550,000 net acres in the Permian along with 200,000 bbl/d oil output and 719 MMcf/d gas production to Conoco’s holdings. It also increases the firm’s Permian output by six-fold. “This acquisition results in the …
Crude oil prices finished down on Friday
After making significant gains last week, oil futures on Friday dropped and analysts blamed fresh outbreaks of COVID-19 in China for taking the glow off the outlook for energy demand. West Texas Intermediate crude for February delivery plunged $1.21 before settling at $52.36 in trading on the New York Mercantile Exchange. That represents a …
Completion reports for January 15, 2021
Completion reports issued on January 15, 2021. BECKHAM COUNTY Bce-mach Llc Des Moines(12372): Oil 42 Gas 422 Water 105 Flow 17 10N 26W Sonny 4-17, November 10, 2020 SH, OIL, TD: 14700 ft Lat: 35.34058, Long: -99.97587 API: 35009217280001
Permits to drill for January 15, 2021
Permits to drill issued on January 15, 2021. Latimer County SCHARFF #5, January 15 2021 01 5N 19E SENENENW API: 07721518 Lat: 34.94109551649173, Long: -95.25371442664517 MERIT ENERGY COMPANY DH, RC, 15610 ft, LOWER ATOKA(11822), ATOKA BASAL (SPIRO)(15398) Love County AKIN SWD #1, November 18 2020 24 8S 1E NWSWSWSW API: 08521320 Lat: 33.84033772707438, Long: -97.15980378985408 FIRST ASCENT …
First electric-powered fracking carried out by Halliburton
Halliburton announced it carried out the oil and gas industry’s first electric grid-powered fracturing job. The Houston-based company said the new kind of fracturing was done on several pads for Cimarex Energy Company in the Permian Basin and started in November. The Denver-based company not only has been active in Oklahoma but also in …
Oklahoma’s rig numbers dropped while US increased in past week
Baker Hughes Co. reported the nation’s oil and gas rig count increased by 13 to reach 373 in the past week while Oklahoma’s count slipped by one to 17 rigs. A year ago, Oklahoma had 53 active rigs. Baker Hughes said the U.S. total included an increase of 12 oil drilling rigs to 287 …
Eight new Republicans named to House Energy and Commerce
Oklahoma congressman Markwayne Mullin got a better idea this week of the Republicans who he will work with on the House Energy and Commerce Committee. Chairwoman Cathy McMorris, a representative from Washington state announced eight new members to the committee—picks that have yet to be formally ratified by the full Republican conference. The 8 …
Feds put a halt to banks’ denial of loans to fossil fuel firms
Big banks are up in arms over a move by the Office of the Comptroller of the Currency to adopt new standards to prevent those banks from banning investments in oil and gas. Banks had threatened to not make investments or loans to fossil fuel companies because they contended oil and gas is harming …
Energy news in brief
** Paris-based Total , Europe’s second largest publicly-traded oil-and-gas company by market value, said Friday that it was only “partially aligned” with the API’s positions on climate-change policy and wouldn’t renew its membership for 2021, citing disagreements with the API’s stances against electric-vehicle subsidies, carbon pricing and methane emission regulations. ** The U.S. Energy Information Administration reported …
Slight gain in oil and gas exploration seen in Oklahoma
Drilling records made available by the Oklahoma Corporation Commission show renewed interest in the state’s oil and gas fields as oil prices surpassed $53 a barrel. Several new permits to drill were approved in the past few days, including one to Latigo Oil and Gas Inc. for a well it plans to drill in …
