Oklahoma City-based Chaparral Energy LLC has cleared the way with its lenders to emerge from bankruptcy. The company also announced the retirement of Mark Fischer, Chaparral’s founder and CEO, according to a report by The Oklahoman. The agreement — which requires approval by the bankruptcy court — would convert $1.2 billion in outstanding debt to …
Category: Oil & Gas
Williams Refreshes Board With Election of Eight New Members
Shareholders of the Williams Companies elected all of the nominees on the ballot for the company’s board of directors to one-year terms at the company’s 2016 annual meeting held on Wednesday, according to a report by The Tulsa World. The five new board members include Stephen Bergstrom, former president and CEO of general partner American …
Natural Gas Gains While Crude Oil Futures End With Mixed Results on Tuesday
U.S. crude oil futures fell on Tuesday after a report indicated OPEC will postpone its attempt to obtain a production cut until after November 30, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, January West Texas Intermediate crude fell by 21 cents, or 0.4%, to settle at $48.03 a barrel. On the London ICE …
Williams Declares Quarterly Dividend of $0.20
Tulsa-based Williams announced Tuesday that its board of directors approved a regular dividend of $0.20 per share on the company’s common stock. The dividend is payable on December 27, 2016 to shareholders of record on December 9, 2016. Williams has paid a common stock dividend every quarter since 1974.
Western Oklahoma Seeing New Wells
Just some observations about recent completion and permits to drill reports as shown on the well reports of OK Energy Today. While Oklahoma’s STACK play has been getting the press and the big wells, western Oklahoma manages to produce some wells of its own, although nothing in comparison to the STACK wells. Denver-based Fourpoint Energy …
WTI, Brent Crude Post Higher Settlements on Monday, Despite Prices Below $50 a Barrel
Crude oil futures climbed to a three-week high on Monday, as OPEC members continued to work out a production freeze and expectations that the Trump presidency will bring relaxed regulation, according to Bloomberg MarketWatch. December West Texas Intermediate crude added $1.80, or 3.9%, to settle at $47.49 a barrel on the New York Mercantile Exchange on …
Oilfield Employment Remains Weak in Oklahoma Despite Oil Play Successes
Oklahoma’s jobless rate slipped a tenth of a point for October but it’s still at 5.2% according to the Oklahoma Employment Security Commission. And the data supplied by the state shows oil and gas employment was anemic, despite growing activity in Oklahoma’s STACK and SCOOP plays. The October 2016 employment in the energy sector was 43,900, …
WTI, Brent Crude, Natural Gas Rise on Friday
Oil futures finished slightly higher on Friday, as traders looked for clues as to whether OPEC members will be able to complete a deal later this month to curb production levels, according to Bloomberg MarketWatch. December West Texas Intermediate crude rose 27 cents, or 0.6%, to settle at $45.69 a barrel on the New York Mercantile …
Oil and Gas Execs Warn Oklahoma Leaders Not to Interfere in STACK and SCOOP—-Don’t Screw this up
“Be very careful with doing anything that might screw that up.” Warning from Lee Boothby, CEO of Newfield Exploration. Executives of four energy companies with extensive work in Oklahoma’s STACK and SCOOP plays made it clear this past week, yes the rewards of the big plays are nice but there are concerns too …
Hutchings Assumes Chairmanship of Oklahoma Oil and Gas Association
The Oklahoma Oil and Gas Association is under the leadership of a newly-elected chairman following the Association’s one-day annual meeting in Oklahoma City. At the meeting, association members elected Wade Hutchings, regional vice president of Mid-Continent Assets at Marathon Oil, to be the new chairman of OKOGA and ratified the board of directors for 2017. …