Government leaders in Canada declare they have saved most of the city of Fort McMurray from the devastating wildfire that destroyed hundreds of homes in Canada’s oil sands city. An estimated 2,400 homes were destroyed but according to the Associated Press, another 25,000 others were saved including the city’s hospital, municipal buildings and …
Short and to the point—-Newfield Exploration’s announcement this week that 50 of its employees in Oklahoma would be laid off and nearly 150 others would be transferred from the Tulsa offices back to the firm’s headquarters in Houston, Texas. Blame the oil and gas downturn and Newfield’s loss of millions in the first quarter of …
Recovering from Monday’s stumble and buoyed by new government data anticipating a rise to $50 a barrel by next year, oil futures turned the corner on Tuesday to recoup recent losses, according to Bloomberg MarketWatch. June West Texas Intermediate crude on the New York Mercantile Exchange rose $1.22, or 2.8%, to end trade at $44.66 …
Oklahoma City-based Chaparral Energy has become the latest Oklahoma oil and gas producer to file Chapter 11 bankruptcy. The firm filed Monday in the U.S. Bankruptcy Court of Delaware. “This action will facilitate the restructuring of our balance sheet as we continue to work through negotiations of a debt to equity exchange with our bondholders …
The U.S. Geological Survey has released studies that for the first time show water-quality impacts directly due to what it called an unconventional oil and gas wastewater deep well injection disposal site. Two recent studies were conducted by the U.S. Geological Survey, the University of Missouri and Duke University. They indicated the presence of …
Oklahoma oilman Mike Cantrell is surprising some energy leaders with a call for them to support an end to tax credits for the state’s oil and gas industry. “The state of Oklahoma is in dire financial straits, in large part because the states oil and gas industry is in a depression, due to low prices,” …
Houston-based Key Energy, a firm that’s expanded its holdings over the years by making acquisitions of a handful of Oklahoma energy operations reported first quarter loss of nearly $82 million. The company said the loss translated to $0.51 per share, despite consolidated revenues of $111.1 million. The fourth quarter 2015 consolidated revenues had totaled $150.2 …
Leawood, Kansas based Tallgrass Energy Partners, LP has closed on its purchase of a 25 percent membership interest in the Rockies Express Pipeline LLC from a unit of Sempra U.S. Gas and Power. It was a $440 million deal involving both TallGrass Energy Partners LP and Tallgrass Energy GP. The Rockies Express Pipeline …
He might not have had a direct relationship with Oklahoma energy producers, but his leadership as Saudi Arabia’s oil minister was definitely felt by them. Now, Ali al-Naimi has been removed from power by his own government and replaced by former Health Minister and Saudi Aramco board chairman Khaled al-Falih. Al-Naimi had led the Saudi …
Oklahoma’s largest oil and gas advocacy group is concerned that energy legislation is pending with less than three weeks remaining in the state’s 2016 legislative session. House Bill 2177 was introduced in February 2015 by House Speaker Jeff Hickman (R-Fairview). A carryover from last year’s session, HB 2177 provides for an alternate development method to …
