“Devon’s top priority in 2016 is to protect the balance sheet.” Dave Hager, CEO and President.
Layoffs will total 1,000 including 700 in OKC.
Company’s debt reaches $7.7 billion.
4th quarter losses hit $4.5 billion.
Devon’s unloading more a…
Category: Oil & Gas
New Earthquake Plan Implemented by State
The Oklahoma Corporation Commission on Tuesday announced its latest plan in trying to reduce the number of earthquakes believed linke to wastewater disposal wells in the state, a plan covering an estimated 5,200 square miles and 245 disposal wells.
Th…
Cities Want Feds to Stop Gas Drilling Around Lewisville Lake
Environmentalists and some cities around Dallas are asking the federal government to stop gas drilling under Lewisville Lake, claiming it could create hazardous conditions for the lake dam that is ranked by the government as the nation’s eighth most ha…
Ethanol Industry Boasts of Helping National Economy
While Oklahoma has no ethanol manufacturing operations, the U.S. ethanol industry added $44 billion to the nation’s gross domestic product in 105 according to a new study by ABF Economics. It also supported nearly 360,000 jobs.
The study was released…
Oklahoma to Feel Impact of Iran’s First Oil Export Shipment
Oil producers in Oklahoma and the rest of the nation will soon feel the impact of competition from Iran as the country made its first crude oil shipment after the nuclear agreement was reached with the Obama administration. The shipment went to Europe …
Kansas Hurting from Oil and Gas Downturn Too
Oklahoma’s not alone in dealing with a state government budget that’s hurting because of the worldwide oil glut and the downturn in prices.
As the Wichita Eagle reported this week, so is Kansas and most of the counties struggling in the downtown are o…
State to Release Massive Injection Well Plan Targeting Earthquakes
The Oklahoma Corporation Commission announced over the weekend it finalized a plan to reduce more wastewater injection well operations and started notifiying disposal well operators in an effort to bring about a reduction of earthquakes in the region. …
Earnings Reports Coming this Week from Three Oklahoma Energy Companies
A big week for three Oklahoma based energy companies as we learn more about their financial status during this prolonged oil and gas downturn. Devon Energy, Seventy Seven Energy Inc. and Williams Cos. will release their fourth quarter and full-year 201…
5.1 magnitude Quake Strikes Near Fairview
One of the strongest earthquakes in more than a few years in Oklahoma struck Saturday morning in Major County. It measured 5.1 magnitude and according to the U.S. Geological Survey struck at 11:07 a.m. and its epicenter was located 17 miles northwest …
Oklahoma and U.S. Rig Counts Drop Again
Another dismal week has been reported of the rig counts in Oklahoma and the U.S. as both suffered losses—four for Oklahoma and 30 nationally according to the latest data from Baker Hughes Corporation in Houston, Texas.
Oklahoma dropped by four more …