Two months after a blown-out natural gas well was capped near Los Angeles and nearly half of the 8,000 families evacuated have yet to return. Many have concerns of other leaks while some say they packed up to escape health problems including nausea and nosebleeds and respiratory problems caused by the leak at the SoCalGas …
Seventy Seven Energy Inc. missed analyst expectations on Monday and reported a first-quarter net loss of $59.6 million, or $1.09 a share, as reported by Adam Wilmoth of The Oklahoman. The Oklahoma City-based oil field services company’s first-quarter earnings were down from a net loss of $37.6 million, or 78 cents a share from a …
Oil futures settled lower on Monday, pulling back after a strong rally last week, on signs of rising global production. Kuwait’s crude production is recovering after its recent workers’ strike and output from Iraq has been climbing. Saudi Arabia will reportedly complete its expansion of a major oilfield next month. The country also announced an …
The Oklahoma Energy Resources Board’s annual Well Site Safety day will be Tuesday as children from across the state are educated about the dangers of playing around oil and gas wells. The day will begin with a poster parade and a legislator meet and greet at the State Capitol at 10 a.m. OERB will also …
Whether some of the job cuts happened in Oklahoma, Schlumberger NV isn’t specifying but the Houston, Texas based firm confirms it laid off nearly 2,500 workers in the first quarter of 2016. The company’s profit dropped 49 percent while revenues fell 36 percent from $10.25 billion down to $6.52 billion. First-quarter net income fell to …
The State Land Commissioner in New Mexico is speaking out against new flaring rules coming from the Obama administration. The federal government wants to restrict oil companies that burn off natural gas on public land but Commissioner Aubrey Dunn in Santa Fe is fighting it. He has announced his office has submitted comments against the …
Oil futures finished higher for a third straight week on Friday, supported by expectations that U.S. crude production will continue to decline. Analysts cautioned against the sustainability of the recent price rally, according to Bloomberg MarketWatch. June West Texas Intermediate crude rose 55 cents, or 1.3%, to settle at $43.73 a barrel on the New …
Oklahoma Corporation Commissioner Dana Murphy thanked Governor Fallin and lawmakers who worked to pass House Bill 3158, clarifying the authority of the Corporation Commission (OCC) to respond to the risk of induced earthquakes. The bill allows the OCC to take emergency action with regard to disposal well operation or other activities within its jurisdiction when public safety …
Commercial operations on a 30-inch segment of the Bayou Bridge Pipeline from Nederland, Texas to Lake Charles, Louisiana have been started by the Bayou Bridge Pipeline LLC, a firm jointly owned by subsidiaries of Phillips 66 Partners LP, Energy Transfer Partners LP and Sunoco Logistics Partners LP. Energy Transfer is the owner of the Panhandle …
Despite the downturn in oil and gas prices, Houston-based Black Stone Minerals L.P. has made a $102 million purchase of 1.2 million acres of assets in Texas, Louisiana and Arkansas. The company made the purchase from Freeport-McMoRan Oil and Gas. “This transaction is a great example of the type of package that Black Stone likes to …
