The highest level reached by the active U.S. rig count during the week ended May 3 was 794, down by 18 rigs from the previous week’s high point, according to Enverus Foundations data. It cited the Anadarko Basin as recording the largest drop in rig activity. The count is down 5%, or 38 rigs, …
Category: Oil & Gas
ONE Gas honored with Safety Award
ONE Gas was recently honored for the six consecutive year with an American Gas Association Safety Achievement Award for excellence in employee safety. The award was presented at the AGA 2023 Operations Conference on May 3 in Grapevine, Texas. ONE Gas was recognized for having the lowest incident rate for the number of days away …
Crude oil had weak trading on Thursday while OK energy stocks were mixed
Crude oil prices didn’t change much in Thursday’s trading as Brent recorded a slight gain while WTI dropped slightly. The weak responses occurred after the European Central Bank slowed the pace of interest rates. West Texas Intermediate crude finished down 4 cents or 0.006% to $68.56 a barrel on the New York Mercantile Exchange. …
OERB names Devon Energy official to board of directors
The Oklahoma Energy Resources Board announced the appointment of Christina Rehkop to its board of directors. Rehkop is the director of Community Relations at Devon Energy Corporation. In this role, she is responsible for all community relations and strategic partnerships in Oklahoma, Texas, New Mexico, North Dakota, and Wyoming. “Christina has been a huge …
Icahn’s wealth took a $10 billion hit this week
Billionaire and corporate activist Carl Icahn’s fortune took a $10 billion hit this week after he was accused by short-seller Hindenburg Research of using a “ponzi-like” economic structure at his investment company. Icahn, majority owner of Oklahoma City-based SandRidge Energy and CVR Energy and its refinery in southern Oklahoma, saw his fortune sink by …
Callon Petroleum purchases Permian Basin oil company
Another Permian Basin merger has gone down as Callon Petroleum announced a $475 million cash-and-stock deal to acquire Percussion Petroleum Operating II LLC. The deal will add about 18,000 net acres and approximately 70 high-return well locations in the Permian, Callon said in the announcement. The deal also includes potential contingent payments of up to …
New Mexico governor is optimistic her state will be picked for federal hydrogen project
New Mexico Gov. Michelle Lujan Grisham predicts her state will emerge as a national leader in hydrogen fuel production with the help of federal funding. In a recent speech, the governor was optimistic the federal government will pick New Mexico, Colorado, Utah and Wyoming as one of the nation’s regional hubs for hydrogen development reported …
First oil and gas lease sales to happen in Wyoming and Montana since Biden’s freeze
The federal Bureau of Land Management will hold at least two oil and gas lease sales in Montana and North Dakota in September, the first sales since before the Biden administration paused leasing in 2021. The Bureau of Land Management has scheduled a September lease sale for 25,759 acres, mostly in the north-central region …
Banks banned from state business over their ESG policies
Oklahoma Treasurer Todd Russ notified 13 financial institutions they are no longer eligible for state contracts as a result of Oklahoma’s new anti-ESG policy law. The law went into effect Nov. 1 of 2022 and since then, the Treasurer’s office was compiling a list of financial institutions that discriminated against oil and gas companies in …
Higher earnings for Williams Cos. in 1Q
Williams recorded higher earnings in the first quarter of the year with a 37% increase over a year ago in adjusted net income as it reached $684 million or 56 cents a diluted share. The Tulsa-based company reported net income of $926 million or 76 cents a diluted share—a 144% gain over the first …
