SandRidge Energy released its earnings report showing a fourth quarter loss of $0.2 million while full-year 2020 losses totaled more than $277 million or $7.77 a share. After sales of assets, the company expects to move forward with reduced capital expenditures and debt. The Oklahoma City company said the quarterly loss was one …
Category: Oil & Gas
Drilling interest grows in Oklahoma
Oklahoma’s Canadian County will see more oil and gas exploration based on new drilling permits approved this week by the Oklahoma Corporation Commission. Camino Natural Resources LLC received permits for two wells on a single pad. The RED RIVER 1208 #24-13 wells will be drilled at a site approximately one mile southwest of the city of El …
US crude rebounded Wednesday to settle above $61
Skip to content Crude oil prices ended their slide on Wednesday after two consecutive days of falling. West Texas Intermediate crude for April delivery went up $1.53 to $61.28 a barrel. Global benchmark Brent crude for May delivery rose $1.37 to reach $64.07 a barrel in trading on ICE Futures Europe. April natural gas fell …
Oil and gas revenues are still hurting in Oklahoma
Oklahoma State Treasurer Randy McDaniel sees signs of a slightly improving economy in Oklahoma as February gross receipts were down less than one percent from a year ago while sales tax receipts were up nearly 8%. But oil and gas is still hurting as reflected in the latest tax revenue figures. Still lagging was …
One Texas oil company leader predicts flat 2021 oil production
If the forecast of the leader of one Texas-based oil company is accurate, there will be “very little growth” for U.S. oil production in the coming years. It’s what Scott Sheffield, chief executive officer at Pioneer Natural Resources Co. told a New York conference this week after the nation’s oil production so far …
Phillips 66 ending more jobs in Bartlesville
A week after Phillips 66 announced it was closing its research lab in Bartlesville and ending air shuttle service between there and the Houston corporate headquarters, the company is eliminating 75 positions in its finance and procurement division in Bartlesville. Instead, the company plans to move the work to an outside firm according to …
What an environmentalist says Oklahoma should do to avoid power outages
A young environmentalist is telling Oklahomans they need more solar panels on their homes to avoid the disastrous power outages like the state suffered last week and smiley faces on our utility bills to urge us to change our behavior about climate change. Writing a “Point of View” in the Wednesday Oklahoman, Graham …
Latest quake in Oklahoma resulted in no regulatory action
While dozens of Oklahomans felt a Sunday afternoon earthquake measuring 3.7 magnitude in the northern part of the state, it wasn’t strong enough to warrant any disposal well curtailment by state regulators. The epicenter of the quake was 2 miles southeast of the town of Meno which is near Enid. By Monday morning, …
Houston might abandon ERCOT
In the wake of the disastrous and deadly winter storm in Texas, Harris County, Texas—home to Houston–is exploring the possibility of leaving the state’s power grid. County commissioners voted earlier this week to study ways to possibly quit the Electric Reliability Council of Texas which ordered rolling blackouts in the middle of February when …
Increase in crude storage reported at Cushing
Crude oil supplies in the U.S. rose in the past week including the stocks at the Cushing, Oklahoma storage hub. The American Petroleum Institute reported late Tuesday that the amount of crude stored in Cushing increased by 732,000 barrels in the week that ended Feb. 26. U.S. crude supplies increased by nearly 7.4 million …