Oklahoma City-based Seventy Seven Energy Inc., the spinoff company from Chesapeake Energy is moving closer to its announced merger with Patterson-UTI Energy Inc, of Houston. The company said it has established a record date for the special meeting of its stockholders to consider and vote upon the merger. The merger was announced in December 2016. …
While Oklahoma’s rig count in the past week remained steady at 101, the national count increased by three, according to figures released by Baker Hughes Company of Houston. The national count is up to 754 and includes an increase of 5 more oil rigs to bring the oil rig county to 602 and the gas …
At least four injuries – three in critical condition — were reported when a Wagoner County natural gas well exploded on Thursday afternoon. The incident occurred near 720 Road and County Road 220, about a mile north of Highway 51 as a utility company was using a track hoe to move a private gas line. …
Posting its highest close since July of 2015, the WTI and Brent crude posted gains on Thursday as they were buoyed by a smaller-than-expected rise in inventories, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, West Texas Intermediate futures climbed 86 cents, or 1.6%, to settle at $54.45 a barrel. On the London …
Fresh out of bankruptcy and shedding $3.7 billion in debt, Oklahoma City-based SandRidge Energy still faces a significant challenge. Its fourth-quarter earnings report showed a net loss of $334 million which translates into a loss of $17.61 a share. In the fourth quarter of 2015, the company suffered losses of $665 million or $1.13 …
Nearly a dozen activists were arrested at the Dakota Access Pipeline encampment following Wednesday afternoon’s evacuation deadline. About 150 people left the camp voluntarily prior to the deadline, according to news reports. Law enforcement authorities estimate that less than 100 tribal protesters remain at the base camp located on the edge of the Standing Rock Sioux …
Crude oil prices dipped on Wednesday, finishing lower as concerns grew about the potential rise of production outside the OPEC agreement, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, April West Texas Intermediate crude oil dropped 74 cents, or 1.4%, to settle at $53.59 a barrel. On the London ICE Futures Exchange, April …
The Colorado Court of Appeals heard arguments this week from six teenagers who have filed suit to restrict oil and gas development in the state. Attorneys for the youths claimed the Colorado Oil and Gas Conservation Commission’s practice of weighing economic benefit against health and environmental impacts of drilling is a violation of state law. …
Crude oil futures climbed higher on Tuesday as investors bid up futures contracts on the heels of growing optimism about compliance with OPEC’s global pact to curb production, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, April West Texas Intermediate gained 55 cents, or 1%, to settle at 54.33 a barrel while the March …
The Permian Basin in west Texas and southeast New Mexico remains the number one interest of oil and gas exploration in the U.S. Not even Oklahoma’s growing STACK and SCOOP plays can compare. The Permian Basin Petroleum Association says more than 40 percent of the rig activity in the U.S. is in the Permian. Further, …
