Author's posts
IOGCC Meeting Approaching in Denver
Registration has opened for the upcoming annual meeting of the Interstate Oil and Gas Compact Commission in Denver, Colorado. It will be held May 15-17, 2016.
The Council of State Regulatory Officials including state and provincial regulators will del…
Oklahoma Oil Downturn Notihng Like 1931 Forced Oilfield Shutdown by Governor
Eighty-five years after then Oklahoma Governor Alfalfa Bill Murray took the drastic action of shutting down the State’s oilfields and 3,000 oil wells because of plummeting oil prices, the state faces another dramatic downturn in the oilpath. However, i…
Williams Reports Increases in Quarterly and Yearly Earnings
With a 25 percent increase in fourth quarter earnings and a 22 percent jump in full year earnings, Williams Cos. based in Tulsa is pushing ahead with its planned merger with Dallas-based Energy Transfer Equity. However, the company also reported losses…
Phillips 66 Makes $236 million Purchase of Storage Caverns and Franctionator
Thousands might have been let go in the past several months in the nation’s energy sector, including the 1,000 this week at Oklahoma City-based Devon Energy, but some companies are pushing ahead with multi-million dollar acquisitions.
The latest is th…
Devon Waits to See What Happens with 69 milion Share Public Offering
On the same day Devon Energy released its financial earnings reports and started layoffs of 1,000 workers, the company also made an upsized public offering of 69,000,000 shares of its common stock at a price to the public of $18.75 a share. At the end …
Executive Changes at Devon Energy and ConocoPhillips
Changes in the executive leadership at Devon Energy Corp. and ConocoPhillips were announced this week. The Devon announcements were lost in the news that the company laid off 700 workers at its headquarters and 1,000 company wide.
Darryl Smette, exec…
Chesapeake’s Financial Woes Force George Soros to Dump Stock
Billionaire George Soros doesn’t like what he sees financially in Oklahoma City-based Chesapeake Energy and this week dumped his shares in the company.
The founder of Soros Fund Management LLC also withdrew stakes in Chevron Corporation and NRG Energy…
Devon Energy’s CEO—-No Sacred Cows Around Here
The layoffs of at least 700 workers at Devon Energy’s headquarters in downtown Oklahoma City should be complete by week’s end. But the total number of layoffs in the company will be 1,000 and another 600 could be affected when the energy company sells …
Layoffs and Sales of Assets Ahead for Devon Energy Leaders But they Sound Optimistic
“2015 provided an extremely challenging business environment for our industry.” Dave Hager, CEO and President.
Despite laying off 1,000 workers amidst the energy downturn, Devon Energy CEO and President David Hager on Wednesday sounded optimi…
Seventy Seven Energy Still Struggling—Voluntary Bankruptcy is Still On the Table
Oklahoma City-based Seventy Seven Energy Inc., the spinoff from Chesapeake Energy a few years ago reported Wednesday a drop in fourth quarter 2015 earnings as well as total revenues for 2015 and an increase in losses. And at the same time, it confirmed…