Author's posts
Worldwide Rig Counts Drop in Downturn
The U.S. oil and natural rig count isn’t the only sector seeing a drop. So is the international count for January 2016, according to Baker Hughes Incorporated of Houston, Texas. The count was 1,045, down 50 from the 1,095 counted in December 2015 and d…
Nabors Industries Hit with Fitch Ratings Downgrade
Another energy company with big Oklahoma ties is facing its share of economic problems. Nabors Industries, Ltd., with offices in Oklahoma City and Woodward, is being downgraded by Fitch ratings on its Long-term Issuer Defaulting Rating from ‘BBB’ to ‘B…
Oil Tax Said to be ‘Dead on Arrival’
President Obama wants to take another swing against the U.S. oil and gas industry by imposing a $10 fee on every barrel of domestic oil produced in the country. As The Oklahoman’s Chris Casteel reported on Friday, it will be part of the President’s bud…
Another Oklahoma Oil Exploration Company Files Bankruptcy Protection
With more than $42 million in liabilities, the exploration and production company Osage Exploration and Development Inc. filed for Chapter 11 bankruptcy protection this week in federal court.
The company announced the filing on its website, stating, “…
Helmerich and Payne in Tulsa Layoffs of 3 Dozen workers
The latest energy sector layoffs in Oklahoma occurred this week at Helmerich and Payne operations in Tulsa where 40 workers were let go out of the Tulsa workforce of about 500. Worldwide, Helmerich and Payne had more than 6,700 employees.
A company an…
Ascent Resources Reveals Early Exchange Offer Results
Ascent Resources, LLC announced Thursday the early participation results of their private offer to exchange Convertible Subordinated Notes. The company has offered to exchange all of the outstanding 3.50 percent Convertible Subordinated Notes due 2021 …
Contraction in Oklahoma’s Energy Sector Slows Slightly
“Lost year for Oklahoma economy.” Dr. Russell Evans.
While the news turned sour for 172 workers at SandRidge Energy in Oklahoma this week, there was an indication from the Oklahoma Energy Index that its recent contraction had slowed because …
Oil and Gas Conference Approaches in Tulsa
While some oil and gas companies are struggling to stay afloat in Oklahoma amidst the energy downturn, others are pushing ahead with operations. Many will be on hand in a few weeks at the 2016 Mid-Continent Digital Oilfield Conference in Tulsa.
On han…
Newest Jobless Rates Don’t Reflect Latest Oilfield Layoffs
The layoffs of another 172 workers by SandRidge Energy this week no doubt will affect the state’s jobless rate. But the latest report from the Oklahoma Employment Security Commission indicated the unemployment rates went up in December in only two of t…
Well Blowout Leads to Criminal Charges against Gas Company
What happened this week in California could be a wakeup call to many natural gas utilities across the nation. Los Angeles prosecutors filed misdemeanor criminal charges against the Southern California Gas Co. for failing to immediately report a natural…
