While Oklahoma City’s Chesapeake Energy is retrenching slightly as it cuts rig counts from 18 to 14 for the remainder of the year, the company still has had success in its exploration in Texas. The company reported spending $667 million on exploration in the second quarter of 2017, its principal debt balance was nearly $9.7 …
Successful wells keep being hit as oil and gas explorers drill throughout the state. Keeping track of what’s happening in the STACK, OK Energy Today’s well completion reports show Continental Resources Inc. brought in two more wells in Blaine county while Newfield reported five wells also in the STACK. Continental’s were multi-unit wells at 18 16N 10W …
The latest weekly oil and gas rig count revealed declines in the nation and Oklahoma, according to Houston-based Baker Hughes Company. The nation’s rig count dropped by four to reach 954, down from a year ago when it had 464 working rigs. Oklahoma’s count fell by two in the past week to reach 132 compared …
Oil futures finished higher on Friday despite booking a weekly loss, as investors focused on a decline in active rigs, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate gained 55 cents, or 1.1%, to settle at $49.58 a barrel. For the week, WTI slipped by 0.3%. October Brent crude, …
Despite $470 million in earnings compared to a loss one year ago, Oklahoma City’s Chesapeake Energy is cutting back on the number of operational rigs. The company expects production to continue growing but it also will cut four rigs by the end of the year as it attempts to curtail expenses. The $470 million in …
Tulsa-based NGL Energy Partners LP reported a net loss of nearly $64 million for the quarter ending June 30, 2017. The loss of $63.7 million compared to net income of $182.8 million in a year ago, leading CEO Mike Krimbill to explain, “Our first quarter results (2018) were impacted by the continued challenges facing our Refined …
While Houston-based Newfield Exploration was reporting profits in the second quarter, it was also offering details of its operations in Oklahoma’s STACK and SCOOP plays. As OK Energy Today reported, the company recently completed several wells in Blaine county in the STACK. But in the company’s second quarter financial statement, Lee Boothby, Newfield Chairman, President …
Blaine County in Oklahoma’s STACK play has yielded five sizable horizontal gas wells for Houston-based Newfield Exploration Mid-con Inc., which recently announced its test well results with the company’s quarterly earnings. As indicated in the Completion Reports for August 4, 2017 shown by OK Energy Today, the Stark wells are located at 1 16N 10W which …
Oil futures continued to drop on Thursday as investors awaited a highly anticipated OPEC meeting next week, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, light, sweet crude futures for delivery in September fell 56 cents, or 1.1%, to settle at $49.03 a barrel. October Brent crude, the global benchmark, lost 35 cents, or …
SandRidge Energy not only reported a more than $23 million second-quarter profit this week but immediately boosted its capital expenditure budget by $40 million. It constitutes a reversal of fortunes for the company that lost nearly half a billion dollars a year ago. The increase will result in the company’s cap-ex of about $260 million …
