Natural gas futures settled at their highest level in a week on Monday as traders bet that weather will provide a boost in demand to reduce record inventory levels of the fuel ahead of the peak winter heating season, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, December natural gas rallied by 13 cents, …
Category: Oil & Gas
Rig Counts Slip in Oklahoma and Across the U.S.
Both Oklahoma and the U.S. started the week with one less oil and gas rig in the mix, according to figures from Baker Hughes Co. of Houston. The national count slipped by one to reach 568, which is still 199 fewer rigs than the 767 counted a year ago at this time. Oklahoma’s count was …
New Casing Equipment Launched in Houston
With the financial help of Denver-based Aspen Energy Partners, Citadel Casing Solutions of Houston has launched operations after getting its initial investment. Citadel was founded in July by former employees of Halliburton Co. and now manufactures casing equipment and accessories in support of well construction and wellbore integrity, according to a recent report in the …
Samson Finalizes Sale of North Dakota Holdings to Cut Debt
Australia’s Samson Oil and Gas says it’s reduced its outstanding debt to $19 million through the closing of the North Stockyard sale of its holdings in North Dakota’s Bakken play. At the same time, Mutual of Omaha Bank has increased the company’s borrowing base to $20 million as part of a new syndicated loan involving …
OIPA Hires Hollye Hunt as New VP of Legislative Affairs
Hollye Hunt was recently named as vice president of legislative affairs for the Oklahoma Independent Petroleum Association, according to the association’s website. Hunt will lead legislative outreach efforts on behalf of OIPA members and supporting service companies. “The OIPA has a distinguished record of legislative accomplishment, and I am confident Hollye’s own proven history will …
OKOGA Expands Operations, Hires Natalie Kinmonth and Donelle Harder as New VPs
The Oklahoma Oil & Gas Association (OKOGA) announced Friday it has expanded its operations with the hiring of Natalie Kinmonth as vice president of membership and development and Donelle Harder as vice president of communications. Kinmonth began on November 3 while Harder’s first day of employment will be November 14. “With OKOGA’s quickly growing membership, …
U.S. Steel Honors Harold Hamm With 2016 Chief Roughneck Award at IPAA Meeting
U.S. Steel Tubular Products, Inc. recognized Harold Hamm as the recipient of the 2016 Chief Roughneck Award. The announcement was made at the 87th annual meeting of the Independent Petroleum Association of America held in Sea Island, Georgia on Friday. “Harold is a tireless advocate for America’s energy independence,” said David Rintoul, U.S. Steel senior …
McClendon Estate Claims Forgery, Rejects $500,000 Personal Loan From 1991
A $500,000 claim by a retired Tulsa businessman against the estate of Oklahoma City oil tycoon Aubrey McClendon is allegedly unenforceable or the result of forgery, according to pleadings filed by the estate’s legal counsel. Thomas A. Quinn claims he loaned half a million dollars in cash to Aubrey McClendon back in 1991. Quinn’s documentation …
Harold Hamm Will Remain as Continental CEO in Oklahoma City
Despite being named as a key energy advisor to Republican president-elect Donald Trump, Oklahoma oilman Harold Hamm said Wednesday he will remain at the helm of Continental Resources Inc. Hamm communicated his sentiments to his employees via email on Wednesday. “As excited as I am to see this change come to Washington, D.C., I remain …
SandRidge Confirms Layoffs Expected Soon
After emerging from bankruptcy last month, Oklahoma City-based SandRidge Energy is expected to trim its workforce soon, according to a comment made on Wednesday by CEO James Bennett in a conference call with analysts. Citing low commodity prices, David Kimmel, a SandRidge spokesman, also confirmed the layoff announcement with the Journal Record on Friday. No …