Derek Coffie was recently named as the Chief Financial Officer for CSI Compressco LP, according to a company press release issued on Monday. Coffie has over 35 years of financial experience working in agribusiness, manufacturing and land-based diesel engine services. Prior to joining CSI Compressco, Coffie served as Vice President of Finance and Controller for United Holdings, …
Houston, Texas based Marathon Oil Corporation announced Monday its $888 million purchase of PayRock Energy Holdings, an Oklahoma City portfolio company of Encap Investments. Marathon’s purchase raises its holdings in Oklahoma from 265,000 acres before the acquisition to 326,000 acres afterward. Earlier in the year, the company confirmed it had distributed $204 million or 14% of …
Houston, Texas based Marathon Oil Corporation announced Monday its $888 million purchase of PayRock Energy Holdings, an Oklahoma City portfolio company of Encap Investments. Marathon’s purchase raises its holdings in Oklahoma from 265,000 acres before the acquisition to 326,000 acres afterward. Earlier in the year, the company confirmed it had distributed $204 million …
A Stephens County District Court judge has put on hold a local lawsuit accusing Chesapeake Energy and former SandRidge CEO Tom Ward of intentionally depressing bids and oil leases in the oil and gas industry. The lawsuit is similar to a federal lawsuit filed against Chesapeake and others in Oklahoma City U.S. District Court. …
The State of Texas is likely to save billions of dollars in rebates after the Texas Supreme Court turned aside a request for a sales tax refund sought by Midland-based Southwest Royalties. The nine Republican justices ruled unanimously that the energy company should not be exempted from paying sales tax on equipment used in its …
Oil futures rose on Friday but showed an overall decline for the week, according to Bloomberg MarketWatch. On the New York Mercantile Exchange, July West Texas Intermediate crude tacked on $1.77 or 3.8%, to settle at $47.98 a barrel, ending almost 2.2% lower for the week. On London’s ICE Futures Exchange, August Brent crude climbed …
Opponents of a proposed pipeline from Cushing to Longview, Texas plan to voice their concerns at a Monday afternoon meeting of the Norman Floodplain Permit Committee. The developer is the same company responsible for the Santa Barbara, California pipeline spill that led to grand jury indictments on 46 criminal counts. It is opposition to the …
Dallas-based Discovery Midstream Holdings LLC says it is partnering with Old Ironsides Energy LLC of Boston to pursue midstream infrastructure acquisition and greenfield development opportunities across the U.S. It’s a long-standing relationship the two firms have. Five years ago, Discovery President Mike Davis partnered with the Old Ironsides team to construct the Wildcat Sabine Pipeline …
Oil futures plunged for a sixth consecutive trading session on Thursday, according to Bloomberg MarketWatch. July West Texas Intermediate crude plummeted $1.80, or 3.8%, to end trade on the New York Mercantile Exchange at $46.21 a barrel, its lowest close since May 13. August Brent crude, the global benchmark, dropped $1.78, or 3.6%, on London’s …
North Dakota energy officials admit they were not surprised at the startling news this week that their state had suffered its largest monthly decline in oil production in state history. This despite its record production in the past few years because of the massive development of the Bakken play. “We were expecting a large production …
