The latest weekly rig report by Houston-based Baker Hughes Company, an oil and gas servicing firm shows the U.S. rig count grew by eleven over the past week reaching a total of 522. Oklahoma’s count grew by one to hit 68. However, it should be noted the rig count is based on activity of …
The trend of oil and gas workers being let go by the thousands in Oklahoma might have bottomed out. So says Lynn Gray, Director of Economic Research at the Oklahoma Employment Security Commission. “I’m cautiously optimistic that if oil and gas prices stay in the range they’re in, we may have seen the bottom in …
The moves by Oklahoma City’s Chesapeake Energy this week proved to be successful as OPEC agreed to cut its production and the company announced a private placement of up to $1 billion of convertible 10-year debt. The announcement came less than a day after OPEC’s announcement of cutting oil production by 700,000 barrels a day. …
The Bakken is better than ever. It’s what Jack Stark, president and COO of Oklahoma City’s Continental Resources recently told the North Dakota Petroleum council Annual Meeting. And his company will be there for years to come. There’s a good reason why Continental will be busier than ever in the Bakken. Nearly two-thirds of he …
Oklahoma City-based Chesapeake Energy Corporation has received a new subpoena from the U.S. Department of Justice, according to a report published in The Oklahoman. In its Form 8-K filed on Thursday with the U.S. Securities and Exchange Commission, Chesapeake disclosed the company received a DOJ subpoena seeking information on its accounting methodology for the acquisition …
Crude oil futures soared higher on Thursday as traders positively reacted to OPEC’s plan to scale back production, according to Bloomberg MarketWatch. In Algiers, OPEC members agreed to a scaled back production plan on Wednesday. Cartel members agreed on a preliminary outline to cut its collective output to between 32.5 million barrels a day and …
The latest jobless figures in Oklahoma continue showing a loss of energy jobs in the state in the month of August, according to the Oklahoma Employment Security Commission. Overall unemployment rates went up during the month in 73 of Oklahoma’s 77 counties. They were lower in two and unchanged in two others. Stephens County …
A seasoned energy executive with Oklahoma ties was recently appointed as the new chairman of the board for Houston-based Swift Energy Company, according to a company press release issued on Tuesday. Marcus Rowland’s appointment follows the August announcement that the company’s chief executive officer, Terry Earl Swift, and chief financial officer, Alton Heckaman, Jr., would …
Oil futures surged on Wednesday following news that OPEC members agreed on the need to cap crude production, according to Bloomberg MarketWatch. Members of the oil group were considering a production limit of between 32.5 million and 33 million barrels a day, according to The Wall Street Journal, citing sources familiar with the matter. In …
Oil futures retreated by almost 3% on Tuesday after Saudi Arabia and Iran downplayed expectations to freeze or cut production at this week’s informal meeting in Algiers, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, November West Texas Intermediate crude fell by $1.26, or 2.7%, to settle at $44.67 a barrel, following a gain …
