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Oklahoma Sierra Club Prepares for Annual Gathering
The Oklahoma Chapter of the Sierra Club is preparing for its annual chapter gathering set for the weekend of Oct 21 at the Chickasaw National Recreation Area near Sulphur. It begins Friday afternoon at 5 o’clock, with a music mixer. On Saturday, Oct 22 from 9 a.m. to 2 p.m. there will be multiple outing …
Devon Energy Dumps Membership in OIPA Claiming ‘Inequity’ in the Group’s Membership Structure
A shocker for the Oklahoma Independent Petroleum Association where Oklahoma City-based Devon Energy has dropped its membership claiming the group does not apparently do enough for those who make large capital investments in the state. “This decision arose from our serious concerns with OIPA’s ability to be an effective advocate for the significant capital investments …
Rig Counts Grew in U.S. and Oklahoma in the past Week.
The latest weekly rig report by Houston-based Baker Hughes Company, an oil and gas servicing firm shows the U.S. rig count grew by eleven over the past week reaching a total of 522. Oklahoma’s count grew by one to hit 68. However, it should be noted the rig count is based on activity of …
Has Jobless Path Bottomed Out for Oklahoma’s Energy Sector? One Expert says it’s Possible
The trend of oil and gas workers being let go by the thousands in Oklahoma might have bottomed out. So says Lynn Gray, Director of Economic Research at the Oklahoma Employment Security Commission. “I’m cautiously optimistic that if oil and gas prices stay in the range they’re in, we may have seen the bottom in …
Chesapeake Proves Haters Wrong after OPEC Announcement
The moves by Oklahoma City’s Chesapeake Energy this week proved to be successful as OPEC agreed to cut its production and the company announced a private placement of up to $1 billion of convertible 10-year debt. The announcement came less than a day after OPEC’s announcement of cutting oil production by 700,000 barrels a day. …
Bakken Might be Better than Ever, but Continental Resources’ Jack Stark says Best Play is Oklahoma’s STACK
The Bakken is better than ever. It’s what Jack Stark, president and COO of Oklahoma City’s Continental Resources recently told the North Dakota Petroleum council Annual Meeting. And his company will be there for years to come. There’s a good reason why Continental will be busier than ever in the Bakken. Nearly two-thirds of he …
Latest Aubrey McClendon Estate Fight Focuses on Alleged Conflict of Interest
One of the growing legal issues confronting the estate of the late Oklahoma oil and gas mogul Aubrey McClendon focuses on the sale of 18,000 production acres in Oklahoma’s SCOOP and STACK plays. The investment group, Wilmington Trust which is a major creditor in the McClendon probate case, is opposed to the sale because an …
McClendon’s Widow Unloading $14 million Mansion in Bermuda
Aubrey McClendon’s widow is attempting to sell their luxury home in Bermuda for nearly $14 million. Called Winsor House, it sits on a cliffside and is officially listed for sale for $13.9 million. Already, it is under contract according to the Royal Gazette. The paper also said that despite the huge price tag, the house …
Newfield Wraps up $380 million Sale of Texas Holdings
Newfield Exploration, the Houston-based company with a large presence in Oklahoma’s STACK play has finished its $380 million sale of its oil and gas assets and undeveloped acreage in Texas. The company announced earlier in the year of its plans to unload the Texas holdings so it could focus on the successful STACK. Its Eagle …
SandRidge Prepares to Emerge from Chapter 11 Bankruptcy with Aggressive Drilling Program
Oklahoma City-based SandRidge Energy is expected to come out of bankruptcy in the coming week and already has announced plans to spend an estimated $250 million on 37 wells in the remainder of the year. SandRidge filed Chapter 11 bankruptcy earlier in the year but now plans to embark on an aggressive drilling pattern that …