Jobless rates for June in Oklahoma showed more growth in 65 of the state’s 77 counties with the oil and gas industry contributing, according to a county-by-county breakdown provided by the Oklahoma Employment Security Commission. The rates were higher than a year ago but dropped in 10 counties and remained unchanged in 2 counties. Stephens …
Tulsa-based WPX Energy reported second-quarter losses of $204 million saying the results were affected by unrealized non-cash net losses on the company’s hedge portfolio. It amounts to a loss of $0.68 a share on a diluted basis, according to the company. WPX president and CEO Rick Muncrief said a 46 percent increase in oil sales …
The headline of the quarterly earnings report released Thursday by Chesapeake Energy focused on how the company’s total debt reduction is more than $1 billion year to date. But buried in the details of the report is the fact that the Oklahoma City company remains $8.7 million in debt and suffered second quarter losses of $1.792 …
Oklahoma City-based Continental Resources Inc. reported a loss of more than $119 million or 32 cents a share for the second quarter, according to a company press release issued on Wednesday. Earnings before interest, taxes, depreciation, amortization and exploration expense was $528.1 million, down from $647 million in the second quarter of 2015. Total revenue …
Crude oil futures surged higher on Wednesday based on favorable news suggesting a larger-than-expected drawdown in gasoline and crude inventories, according to Bloomberg MarketWatch. September West Texas Intermediate crude jumped $1.32, or 3.3%, to settle at $40.83 a barrel on the New York Mercantile Exchange. The U.S. benchmark plunged after the U.S. Energy Information Administration weekly data …
After nearly $8 million in revenues in the second quarter of last year, Oklahoma City-based Blueknight Energy Partners, L.P. reports a net loss of nearly $19 million this year. Total revenues were $43.4 million for the quarter ending June 30, also down from the nearly $47 million covering the same period of 2015. Net losses …
Oklahoma City-based Enable Midstream Partners reports its 2nd quarter earnings dropped 49 percent compared to a year ago. The net income attributable to limited partners was $39 million, a drop of $38 million from the $77 million for the second quarter of 2015. The company blamed the loss on “changes in the fair value of …
As Oklahoma City-based Devon Energy announced this week intentions to expand drilling operations in Oklahoma’s STACK, the company reported success on at least one well in the play, according to the Completion Reports published by OK Energy Today. The SIMBA well, located 3 miles southwest of Okarche had production of 534 barrels a day along …
Slipped deep in Devon Energy’s second quarter earnings report was word that the company intends to expand operations in Oklahoma’s prolific STACK, that northwest region where wells exceeding 2,000 barrels a day have been hit in the past year. Operations in west Texas will also be targeted for expansion. Devon said its full-year 2016 upstream …
Despite cleaning up more than 15,100 abandoned well sites in Oklahoma, the Oklahoma Energy Resources Board indicated this week it has much work ahead. In a report given to the Oklahoma Corporation Commission, a spokesman for the OERB estimated 20,000 to 40,000 abandoned well sites still need evaluation and cleanup, according to The Oklahoman and …
