Native American concerns that ancient architecture found in northwest New Mexico could be harmed by oil and gas drilling have prompted the federal government to expand its review of public lands management in the area. The focus of the attention by the U.S. interior Department is the Chaco Culture National Historical Park, considered a world …
Chesapeake Energy Corp. is working with the Oklahoma Corporation Commission to make significant changes in the way it drills in northern Oklahoma, a change that produces far less wastewater than its normal operations in the Mississippian Lime.. The Journal Record reports CEO Doug Lawler discussed the changes at his company’s analyst day.
Oil futures receded on Thursday, one day after rising to their highest level since mid-July of last year due to an unexpected weekly drop in U.S. crude supplies and optimism surrounding OPEC’s plan to limit output lifted production, according to Bloomberg MarketWatch. On Thursday, November West Texas Intermediate crude fell $1.17, or 2.3%, to settle …
Experts are predicting the oil production in the Permian Basin will total more than 2 million barrels a day next month and it will be the highest total since 2007, according to the Energy Information Administration. The EIA indicates the Permian is the only oil play in the U.S. that will see an increase in …
A dispute over seismic surveys has led to a lawsuit filed by Continental Resources Inc. against one of its contractors. The suit filed in Oklahoma City federal court was against Silverthorne Scoop Seismic LLC of Texas and accused the company of not completing 3-D seismic surveys and failing to pay subcontractors. The suit (cv-01187-M) indicated Continental was …
Oklahoma City-based Continental Resources Inc. recently sold 30,000 acres of land in the Oklahoma SCOOP, a sale that boosted the SCOOP efforts of Casillas Petroleum Resource Partners LLC. Casillas is a partnership formed earlier in the year by Tulsa producer Casillas Petroleum Corp. and Kayne Anderson Capital Advisors LP, a Los Angeles private equity firm. …
Halliburton’s reporting what some call an “unexpected profit” in its third quarter results, this after the company was relieved of charges over its failed merger with Baker Hughes Inc. The company posted a profit of $6 million for the September quarter, or a penny a share. That compares with a loss of $54 million a …
A restructuring of an agreement between Williams Partners and Crestwood Equity Partners with Chesapeake Energy has been announced on the natural gas gathering and processing services in the Powder River Basin in Wyoming. Williams Partners L.P. of Tulsa and Crestwood Equity Partners L.P. of Houston, Texas are 50/50 joint venture partners in the Bucking Horse natural …
Tulsa-based NGL Energy Partners LP and its wholly owned subsidiary NGL Energy Finance Corp. announced Wednesday that they have priced a private offering of $700 million aggregate principal amount of 7.50% senior notes due 2023, representing an upsize from the previously announced private offering of $400 million aggregate principal amount of senior notes. NGL expects to use the net proceeds of this offering …
Oil traders finally got the long awaited news of a surprise massive drop in crude oil stockpiles resulting in a 15-month high settlement on Wednesday, according to Bloomberg MarketWatch. November West Texas Intermediate crude soared $1.31, or 2.6%, to settle at $51.60 a barrel on the New York Mercantile Exchange, marking its highest settlement since July …
