A Chesapeake Energy Corporation subsidiary laid off 98 employees on Tuesday as part of the continued oil and natural gas industry slowdown. Oklahoma City-based Compass Manufacturing L.L.C. designs, manufactures, installs and sells natural gas compressor equipment. The company was formed in 2007 to supply Chesapeake Energy Corporation and MidCon Compression with natural gas production equipment, …
Sinclair Oil turned 100 years old this month making it the oil industry’s oldest brands….and maybe one of the most recognized because of its famous dinosaur logo. Based in Salt Lake City, the company was founded May 1, 1916 and has sold fuel and oil in the U.S. as one of the oldest continuous brands …
Gasoline prices in Oklahoma are just pennies under the $2 mark and show an increase of 14 cents in the past four week, according to this week’s Fuel Gauge Report from AAA Oklahoma. The new average is $1.96 a gallon, a level that the state hasn’t seen since mid-November of 2015. It compares to the …
The efforts of some cities in Colorado to create rules and regulations against oil and gas development, including fracking have been shot down by the Colorado Supreme Court. The Justices ruled this week state power trumps the local bans on oil and gas drilling near cities. The ruling involved a challenge of a five-year moratorium …
Six months after some high-producing oil wells were drilled in the state, production companies are just filing their completion reports. The largest to be reported this week was a Blaine County well producing 1,817 barrels a day along with 4,381 Mcf of natural gas by Continental Resources. The Compton well is located southeast of Watonga …
Oklahoma oilman Harold Hamm, founder of Continental Resources predicts the oil and gas market will “rebalance in the second half of 2016 and oil prices will be at $60.” It’s what he wrote in a commentary in the Journal Record, saying the oil market has passed an inflection point and prices are up 50 …
Energy Transfer Equity is taking steps that may enable it to renegotiate its $20 billion cash-and-stock acquisition of Williams Companies, Inc., Reuters reported late Monday evening. The companies are seeking to reduce the number of days specified for completing some of the deal’s administrative requirements, which would give them time to engage in renegotiation of terms …
Oil futures fell below $45 a barrel on Monday as traders sold some of their positions after a nearly 20% climb in April, according to Bloomberg MarketWatch. Data that reportedly shows a significant weekly rise in stockpiles at the Cushing, Oklahoma storage hub, rising output from major oil producers, and some downbeat U.S. economic figures …
The slumping energy sector has claimed more local jobs, according to the Tulsa World. Zeeco Inc., a Broken Arrow-based manufacturing company with a global presence, held a round of layoffs Friday, the company confirmed Monday. The provider of combustion equipment and advanced environmental systems says that the cuts are a result of the weak state …
Oklahoma City-based Blueknight Energy Partners, L.P. will announce its first quarter 2016 financial results after the market closes on Wednesday. The company plans to discuss the results during a conference call on Thursday, May 5 at 1:30 p.m. CDT. The company has assets of 7.4 million barrels of crude oil storage in Oklahoma and …
