Houston-based Marathon Oil Corporation announced on Monday that J. R. Sult has left his role as chief financial officer, citing personal reasons. Sult’s departure is not related to any disagreement with the company regarding financial disclosures, accounting or business matters, according to a company press release. Patrick Wagner has been named interim CFO as the company conducts an executive …
Category: Oil & Gas
Leadership Changes at Anadarko Petroleum Corporation
Houston-based Anadarko Petroleum Corporation announced on Tuesday that Darrell Hollek has been named Executive Vice President, Operations with responsibility for the company’s U.S. onshore exploration, production and midstream activities, along with its Gulf of Mexico and international operations. A Texas A&M University graduate, Hollek began his career with Oklahoma City’s Kerr-McGee Corporation in 1980 as …
Vancouver’s Jericho Oil Corporation Expands Tulsa Office
At a time when many companies are consolidating or eliminating operations, Vancouver-based Jericho Oil Corporation is expanding into Oklahoma with continued plans for immediate growth. Earlier this month, Jericho relocated its Tulsa regional branch to a larger office in the Kennedy Building, tripling its square footage in the process. “The focus of this company is …
WTI and Brent Settle Higher on Tuesday
Crude oil futures rebounded on Tuesday after a report suggested that Iran was willing to work with OPEC to support market stabilization, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, October West Texas Intermediate crude added 69 cents, or 1.5%, to settle at $48.10 a barrel after falling under $47 a barrel. On …
SandRidge Objects to Ad Hoc Committee’s Motions to Slow Bankruptcy Confirmation
SandRidge Energy, Inc. has filed an objection to an August 19 emergency motion filed by a stockholder ad hoc committee to extend deadlines for its expert report and objection to the energy company’s bankruptcy confirmation. Oklahoma City-based SandRidge filed for Chapter 11 bankruptcy on May 16 in the Southern District of Texas. The company listed …
WTI, Brent Fall Due to Overproduction, Fears of Market Expansion
Oil futures settled with a drop of 3% on Monday as investors cashed in on a seven-session streak of gains, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude fell $1.47, or 3%, to settle at $47.05 a barrel. That was the largest one-day dollar and percentage decline since …
Former Williams Director Launches Proxy Battle to Replace Entire Board
A former Williams Companies board member said Monday he will nominate a slate of 10 hedge fund employees as directors of the Williams board to stand for election at the company’s 2016 Annual Meeting, according to a CNBC report. Corvex Management LP founder and activist investor Keith Meister remains one of Williams’ largest shareholders. He …
West Texas Intermediate Has Best Performance in Five Months
With a return to the bull market, oil futures closed out Friday on a positive note, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, September West Texas Intermediate crude rose 30 cents, or 0.6%, to settle at $48.52 a barrel. For the week, prices finished over 9% higher than last Friday’s settlement—the best …
Williams Announces Quarterly Dividend
The Williams Companies Board of Directors approved a regular dividend of $0.20 on the company’s common stock, payable September 26, 2016 to holders of record at the close of business September 9, 2016. Tulsa-based Williams has paid a common stock dividend every quarter since 1974, according to a company press release.
Baker Hughes: U.S. Active Rig Count Ascends by Ten
The number of active U.S. rigs rose for the eighth week in a row, according to the Baker Hughes rig count released on Friday. The U.S. rig count rose by 10 to reach 491 active rigs after hitting a record low of 404 in May. Overall, the U.S. is down 394 rigs from last year’s …