A $500,000 claim by a retired Tulsa businessman against the estate of Oklahoma City oil tycoon Aubrey McClendon is allegedly unenforceable or the result of forgery, according to pleadings filed by the estate’s legal counsel. Thomas A. Quinn claims he loaned half a million dollars in cash to Aubrey McClendon back in 1991. Quinn’s documentation …
Category: Oil & Gas
Harold Hamm Will Remain as Continental CEO in Oklahoma City
Despite being named as a key energy advisor to Republican president-elect Donald Trump, Oklahoma oilman Harold Hamm said Wednesday he will remain at the helm of Continental Resources Inc. Hamm communicated his sentiments to his employees via email on Wednesday. “As excited as I am to see this change come to Washington, D.C., I remain …
SandRidge Confirms Layoffs Expected Soon
After emerging from bankruptcy last month, Oklahoma City-based SandRidge Energy is expected to trim its workforce soon, according to a comment made on Wednesday by CEO James Bennett in a conference call with analysts. Citing low commodity prices, David Kimmel, a SandRidge spokesman, also confirmed the layoff announcement with the Journal Record on Friday. No …
Crude Oil Futures Slip on Thursday
Oil futures settled lower on Thursday for the first time in four sessions on the eve of Veterans’ Day, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, December West Texas Intermediate crude fell 61 cents, or 1.4% to settle at $44.66 a barrel after rallying in each of the last three sessions. On the …
Trump Wins Election, Crude Oil Futures Rise to One Week High on Wednesday
Oil futures settled at their highest level in a week on Wednesday following a volatile session, as Donald Trump claimed victory in an astonishing U.S. presidential election, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, December West Texas Intermediate crude rose 29 cents, or 0.6%, to settle at $45.27 a barrel, the highest finish …
Gross Production Collections Show Increase in Oklahoma For 1st Time in Two Years
Oklahoma Treasurer Ken Miller released October gross receipts on Tuesday and for the first time in nearly two years, the gross production tax revenues topped those from the same month a year earlier. Miller said the collections were still significantly lower before the ongoing oil price slump but said the October gross production collects of …
Crude Oil Settlements Remain Afloat on Election Day Tuesday
Crude oil futures posted a small gain Tuesday as the U.S. elected the nation’s next president, according to Bloomberg MarketWatch. December West Texas Intermediate crude rose 9 cents, or 0.2%, to settle at $44.98 a barrel on the New York Mercantile Exchange. Prices gained 1.9% on Monday after posting declines for six sessions in a row. …
OK Corporation Commission Unveils New Plan for Cushing Area Disposal Wells
The Oklahoma Corporation Commission’s Oil and Gas Division announced plans on Tuesday afternoon to implement action in response to recent earthquake activity in the Cushing area. The new plan affects 58 Arbuckle disposal wells including 4 that were shut-in by state regulators in October 2015. A total of 54 wells require action under the new …
September Oil and Gas Gross Production Tax Revenue Still Down from a Year Ago
Revenue from Oklahoma’s gross production tax on oil and natural gas were more than 31% higher than estimated by state officials for the first quarter of the new fiscal year 2017, according to Oklahoma Treasurer Ken Miller. In his Oklahoma Economic Report issued this week, Miller said the allocations from the gross production tax generated …
Joel Kanvik Named General Counsel for Blueknight Energy
Oklahoma City-based Blueknight Energy Partners, L.P. announced the addition of Joel Kanvik as general counsel, according to a company press release issued on Monday. Kanvik’s hiring follows the August departure of Chris Paul, who resigned from Blueknight to become the general counsel for Gulf Oil. “Joel brings more than two decades of legal experience and …