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North Dakota Oil Production Falls Below 1 million Barrels Daily
Reflecting just how badly the oil and gas downturn has hit some states, North Dakota’s oil production in August fell below 1 million barrels a day. The North Dakota Department of Mineral Resources says that’s well below the record 1.22 million barrels a day set in December 2014. The record was set just as …
Apex Promises Safe and Clean Wind Farm Following Lawsuit Victory in OKC Federal Court
Those opponents of the Apex Clean Energy wind farm near Kingfisher certainly had a different reaction from supporters after an Oklahoma City federal judge ruled against a lawsuit that wanted the operation shutdown. “We received the Court’s ruling and are pleased with the judgment being entered in favor of Kingfisher Wind,” said the company following …
USGS Blames SandRidge for Largest Recorded Earthquake in Kansas
Oklahoma City-based SandRidge Energy, the company that just emerged from bankruptcy is blamed in part for causing the largest recorded earthquake in Kansas history according to a report in the Wichita Eagle. The paper cites the U.S. Geological Survey which recently completed a study into the 2014 earthquake that registered 4.9 magnitude and had …
Does Right to Farm Question Give Too Much Power to Farming?
It’s an issue that could affect energy aspects in Oklahoma—State Question 777, Right to Farm. Some contend that if passed into law, the measure would give too much protection to the farming industry. Supporters say that’s a great exaggeration. Either way, a News 9/News on poll shows 49 percent of likely voters supporter the measure …
Interim Director Named at Water Resources Board
After 22 years with the Oklahoma Water Resources Board, Julie Cunningham was named this week as interim executive director, succeeding J.D. Strong who left to become the new Director of the Oklahoma Department of Wildlife Conservation. Cunningham had been the Water Board’s Chief of Planning and Management since 2008. She agency in 1994 as an …
Borehole Test Operation Doubled in Size with $2.5 million Expansion
Announced this week—-Catoosa Test Facility has completed a $2.5 million expansion at its Pawnee County operation, a completion that will double borehole testing capacity for oilfield manufacturers. Located near Jennings, midway between Stillwater and Tulsa, the expansion was actually finished in July but it enabled CTF to add a second drilling rig to allow 18 …
Senior Notes Offerings by Phillips 66 Partners and Dynegy Inc.
Two Houston-based energy firms have announced massive senior notes deals. While Phillips 66 Partners LP is announcing a $1.125 billion Senior Notes Offering, Dynegy Inc. is closing its offering of $750 million senior notes. The Phillips offering includes notes due 2026 and in 2046 and the proceeds will be used to pay the cash consideration …
Devon Wraps up $1.1 billion Sale of its Share of Access Pipeline
With the completion of its $1.1 billion sale of its 50% ownership interest in Access Pipeline, Devon Energy expects the proceeds to beef up its investment-grade balance sheet. It also means the investments will put the Oklahoma City-based energy company in a position to get higher benefits from the STACK and other resource-rich U.S. areas. The …
Chesapeake Energy Shares Jump 50% in Three Months
Skyrocketing prices of Chesapeake Energy shares are getting some attention in the stock market. As Seeking Alpha notes, Chesapeake shares have jumped 50% in the past three months and it’s largely due to a “rally in natural gas pricing.” The investment company says Chesapeake Energy is likely to reap the benefits of a growing …
Samson Encounters Objections in Amended Chapter 11 Bankruptcy
Tulsa-based Samson Resources has encountered some opposition from the U.S. Trustee in its Chapter 11 bankruptcy case filed last year in the District of Delaware. At the same time, the Department of Interior is objecting too. The Interior Department told the judge in the case that Samson Resources corp. must pay $136.9 million and get the department’s …