Another oil and gas exploration company has completed the sale of its assets in one part of Texas so it can devote more efforts in the Permian Basin in West Texas. Matador Resources Company, Dallas, announced recently the sale of its remaining Eagle Ford shale position in South Texas and provided an update on …
Category: Oil & Gas
Helmerich and Payne’s quarterly release to show if turnaround was made in revenues
The second quarter earnings report for Helmerich & Payne will be made public on Thursday, May 8 and investors are wondering if the company’s revenues will continue their decline as indicated the past two quarters. The Tulsa-based drilling rig contractor intends to hold a conference call later in the morning at 10 o’clock …
State Treasurer sees economy growth in Oklahoma
Oklahoma Treasurer Todd Russ expressed optimism about Oklahoma’s economy as he released the March revenue numbers for the state, numbers that reflected an increase in gross production tax revenue from oil and gas production. However, his optimism was also expressed last week just as the impact of President Trump’s worldwide tariffs were beginning …
Energy briefs
** Liberty Energy Inc., the company previously run by U.S. Energy Secretary Chris Wright plans to release its financial results for the first quarter after the market closes on Wednesday, April 16. ** The battle over whether California should build a $20-billion water tunnel in the Sacramento-San Joaquin River Delta is escalating, with Gov. Gavin …
Interior Secretary visits Halliburton Marcellus site
The American Exploration and Production Council, in partnership with EQT Corporation, Halliburton Company, and Range Resources, recently hosted Department of the Interior Secretary and Chair of the National Energy Dominance Council Doug Burgum for a Marcellus shale field visit in Washington County, Pennsylvania. Secretary Burgum visited a hydraulic fracturing site highlighting modern energy development …
US sees gain in oil rigs but loss in gas rigs
While the number of active oil and gas rigs in Oklahoma held steady over the past week, the latest Baker Hughes Co. rig count showed a decline nationwide. Oklahoma’s count was unchanged at 53 rigs, 9 more than a year ago at this time. The nation’s count fell by two to 590 rigs. But the …
Texas Eastern to provide gas for largest gas-fired power plant in US
Natural gas from the Texas Eastern gas pipeline system will be used to fuel what is being billed as the largest gas-fired power plant in the U.S. News of the $10 billion 4.5 GW gas-fired generation plant to be located in Pennsylvania where it will serve a planned data center campus was announced by …
Attorney General and Corporation Commission come to defense of Todd Hiett
It now appears two state agencies have come to the defense of Oklahoma Corporation Commissioner Todd Hiett, the state-wide elected official accused of sexual abuse and repeated public drunkenness over the past year. As OK Energy Today reported earlier in the week, the Attorney General appeared to defend Hiett in asking the Supreme Court …
Energy briefs
** Oil company Chevron must pay $744.6 million to restore damage it caused to southeast Louisiana’s coastal wetlands, a jury ruled on Friday following a landmark trial more than a decade in the making. The case was the first of dozens of pending lawsuits to reach trial in Louisiana against the world’s leading oil companies for their role …
Oil prices tumble amidst tariff war–Oklahoma firms feel the pain
The tariff war launched by President Trump resulted Friday in a second day of tumbling values of shares in Oklahoma energy firms. Two companies, NGL Energy Partners and Vital Energy dropped 17% at the end of Friday’s trading. Ovintiv, while technically not an Oklahoma-based company but one with heavy exploration in the STACK and …