Tulsa-based WPX Energy wrapped up its cash tender offer on Friday for purchases of its outstanding 5.250 percent Senior Notes due 2017. The offer ended Friday at 5 p.m. and indicated $93 million or nearly 31 percent of the outstanding Notes had been tendered and accepted. The total purchase price offered for each $1,000 principal amount …
Tulsa-based Midstates Petroleum Co. is one of the latest companies to file Chapter 11 bankruptcy as the energy downturn adds another victim. Midstates, an Oklahoma company with 120 full-time workers filed Friday in Houston bankruptcy court listing liabilities ranging from $1 billion to $10 billion and more than 25,000 creditors. The paperwork said …
The $28 billion dollar merger between Halliburton and Baker Hughes, both headquartered in Houston was cancelled Sunday. The Securities and Exchange Commission was notified early Monday by the two companies after the Justice Department filed a civil complaint April 6 to stop the merger, claiming it would create a company so large that it would …
Even as early Sunday-morning earthquakes rattled southern Kansas and parts of northern Oklahoma, scientists with the U.S. Geological Survey indicated they believe there will be fewer earthquakes in the region due to steps taken to curtail wastewater injection well use in both states. The prediction comes form Justin Rubinstein, a seismologist and deputy chief …
A discovery by scientists now blames North Dakota’s Bakken Shale formation for contribution 2 percent of the entire world’s ethane output. The formation, which also stretches into parts of Montana is being blamed, according to some reports for reversing a decades-long decline in global ethane emissions, according to a recent report in the Washington …
Oil futures finished Friday with a modest loss following news of a monthly climb in production from OPEC but ended April with a monthly gain of nearly 20%, according to Bloomberg MarketWatch. The ride wasn’t a smooth one and volatility will likely prevail in the weeks to come as traders navigate conflicting clues on the …
Both the U.S. and Oklahoma rig counts suffered losses in the past week, according to the latest data released by Baker Hughes Company of Houston. Oklahoma suffered a loss of three more rigs, reaching a total count of 60 working oil and gas rigs. Nationally, the count dropped by eleven, reaching a …
While it’s become routine in Oklahoma to wonder about the connection between earthquakes and fracking sites, Pennsylvania has launched an investigation into a recent similar occurrence. The quakes that occurred around a fracking site in western Pennsylvania measured only 1.9 magnitude. But now the Pennsylvania Department of environmental Protection has started an investigation to …
Oklahoma producers on Monday fired back at environmental groups in a legal tussle in the U.S. District Court for the Western District of Oklahoma, asking for dismissal of a lawsuit over alleged oil and natural gas injection well-induced earthquakes in the state. At issue is a lawsuit filed by the Sierra Club (Sierra Club v. …
The slump in crude prices is starting to show up as missed payments by consumers in the oil patch, according to a report published in The Wall Street Journal. In states from Oklahoma and Texas to North Dakota and Wyoming, rising unemployment in the energy sector is pushing up loan delinquencies and raising the risk …
