Author's posts
Chesapeake Energy Hit with Downgrading by Fitch Ratings
Another round of bad news for Oklahoma City-based Chesapeake Energy as Fitch ratings has downgraded the company’s long-term issuer defaulting rating from ‘B’ to ‘B-‘, according to an announcement by the Chicago based firm.
Fitch indicated the downgrad…
Rig Losses Slow Nationwide and Remain Steady in Oklahoma
The nation lost more rigs in the oil and gas industry in the past week while the losses leveled off in Oklahoma, according to the latest data from Baker Hughes Company of Houston, Texas.
Oklahoma remained at 73 but was still far below the count of 146…
LNG Shipped from Lower 48
The first international shipment of liquefied natural gas from the lower 48 states of the U.S. went to Brazil, marking a significant point in U.S. energy history because it shows the strength of the nation’s natural gas production, production that has …
Optimism at Chesapeake Energy after Jump in Stock Prices
Financial analysts like what financially-troubled Chesapeake Energy is doing to avoid bankruptcy. Investors apparently do too. Stock prices for the Oklahoma City-based company jumped 50 cents in mid-week trading after the firm announced in its quarter…
Halliburton Laying Off 5,000 More Workers
Another 5,000 workers are being let go by Houston-based Halliburton. It’s on top of the 9,000 laid off in the past year during the energy downturn. A company spokeswoman indicated that the latest roun of layoffs will represent nearly 8 percent of the…
$6.5 million Judgment Against Pipeline Companies Over Wildfire
A jury in Stillwater has ordered two pipeline companies to pay more than $6 million in damages over a 2012 wildfire that was sparked by welders ignoring a day-old statewide burn ban.
The jury ordered IPS Engineering L.L.C. and Global Pipeline Construc…
Merger in Trouble Between Williams Cos. and Energy Transfer Equity
If the New York Times is right, serious problems have developed in the merger between Tulsa-based Williams Companies and Texas-based Energy Transfer Equity. The paper says that just five months after the two firms agreed to the deal, it has become a ni…
Newfield Exploration Reports Losses of $3.4 billion for 2015
Despite huge success with wells producing more than 2,500 barrels of oil a day in 2015 in northwestern Oklahoma, Houston-based Newfield Exploration joined the ranks of numerous other oil and gas companies reporting financial losses for the year. Newfie…
Kimray to Join Ranks of Those Making Layoffs in Energy Downturn
Oilfield equipment manufacturer Kimray Inc. is making layoffs in the wake of the energy downturn that has seen the state lose thousands of workers in the oil and gas patch.
Kimray says it will cut its workforce by 10 percent beginning the first week o…
Petition Drive Underway Against Devon, Chesapeake and New Dominion
More than 11,000 people have signed a nationwide petiton drive led by the Washington, D.C. non-profit watchdog, Public Justice aimed against the three energy companies sued last week for causing earthquakes through their wastewater disposal wells.
At …
