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Gasoline prices slide as oil prices drop
Those tumbling oil prices mean one thing for consumers—cheaper gasoline prices. How cheap in Oklahoma? Cotton County in the southwest reports an average of $1.81 for a gallon of regular gasoline. Washington County in the northeast where Bartlesville is the county seat reports an average of $1.90 a gallon, according to AAA Oklahoma. Tulsa …
Bakken oil fields are in shock too
Every state that relies heavily on oil and gas production for government revenue has been slapped in the face by the dramatic plunge in oil prices. North Dakota is no different than Oklahoma. It has the Bakken oil fields, a play where Oklahoma City-based Continental Resources is one of the dominant players. As the Bismarck …
SEC filings by OGE executives
Recent filings with the Securities and Exchange Commission reflect the acquisition of OGE company shares by three of its executives. The filings were made by William H. Sultemeier who is General Counsel; Sarah R. Stafford who is Controller and Chief Accounting Officer; and Andrea M. Dennis, Vice President of T&D. Sultemeier acquired 2,271.713 shares while …
Caught in the oil war crossfire
Oklahoma legislative leaders are certainly paying attention to the collapse in oil prices, something that has some oil and gas companies bringing a halt to oil exploration. Their worry is about the state budget and how gross production tax revenue will be affected. Rep Kevin Wallace chairs the House Appropriations and Budget Committee and as …
Holdup in purchase of Alta Mesa Holdings—court hearing ordered
The $320 million purchase of upstream oil and gas assets of Alta Mesa Holdings,LP and its subsidiaries by an Oklahoma City company has encountered a hold up and a federal bankruptcy judge wants to know why. Apparently funding for the deal fell through this month. A hearing has been ordered for Thursday in South …
Nine Energy reports 4Q losses of $220 million
Houston’s Nine Energy Service, Inc. reported fourth quarter losses this week totaling more than $220 million. The announced its fourth quarter 2019 revenues were $163.4 million and adjusted EBITDA of $11.6 million. The revenues resulted in a net loss of $220.5 million or $7.51 per basic share. For the fourth quarter 2019, adjusted net loss was …
One Permian Basin operator suspends all drilling
While some oil and gas companies aren’t offering many public comments in wake of the free fall of oil prices this week, at least one headquartered in the Permian Basin admits it has put drilling on hold. And another has cut its drilling operations. Ring Energy, Inc. based in Midland, Texas announced Tuesday it …
Devon brings in more big producers in STACK
While oil prices tumble, Oklahoma City’s Devon Energy has been filing reports on a series of wells in Oklahoma’s STACK—two series of 3 sister wells with production of more than 2,000 barrels of oil a day. The largest producers were the three Minnie Haha 12_ 1-15n-10w wells drilled at a site about 12 miles southeast …
Completion reports for March 9, 2020
Completion reports filed on March 9, 2020. ALFALFA COUNTY Bce-mach Llc Mississippian(5785): Oil 344 Gas 2946 Water 2202 Gaslift 12 25N 11W Means 12-25-11 4h, August 14, 2019 HH, OIL, TD: 10638 ft Lat: 36.65242, Long: -98.34177 API: 35003233770000 BLAINE COUNTY Devon Energy Production Co Lp Mississippian(10037): Oil 630 Gas 1663 Water 405 Flow 12 15N 10W Minnie Haha 12_1-15n-10w 2hx, August 30, 2019 HH, OIL, …
Permits to drill for March 9, 2020
Permits to drill issued on March 9, 2020. Caddo County CITY OF CHICKASHA ##1-8H, April 23 2019 17 8N 9W NENWNWNW API: 01523310 Lat: 35.17408693829329, Long: -98.17834760492867 UNIT PETROLEUM COMPANY HH, AM, 15825 ft, MARCHAND(10450) Canadian County PAUL HARVEY 1108 #10-15-1MXH, March 09 2020 10 11N 8W NWNENESE API: 01725611 Lat: 35.44158059133866, Long: -98.02702697837604 CAMINO NATURAL RESOURCES …