Drilling-rig manufacturer Helmerich & Payne announced the naming of a new Chief Financial Officer. The company said it hired J. Kevin Vann to succeed Mark Smith as CFO after Smith will retire on August 15. H&P said Vann brings extensive public company financial and accounting experience in the oil and gas industry, which will …
Category: Oil & Gas
Army begins search for forever chemicals at two posts in Oklahoma
An investigation is underway to determine whether those forever chemicals are located in well water near Fort Sill and the McAlester Army Ammunition Plant. The Army and the Environmental Protection AGency plans to test the water as well at more than half a dozen Army posts in the states of Alabama, California, Georgia, Kentucky, …
Oil prices hit 8 month low on Friday while OK energy stocks tumbled
Not only did crude oil prices fall Friday to their lowest levels since January, but Oklahoma energy stocks also tumbled, some as much as 7%. The crude price drop came after the U.S. economy added fewer jobs than expected in July and unemployment rose. West Texas Intermediate, the US benchmark, dropped $2.79 r 3.66% per …
Nation’s oil and gas rigs numbers slip—Oklahoma remains steady
The number of oil and gas rigs actively pursuing new production in the U.S. dropped by three to 586 in the past week, according to the latest rig count released by the Baker Hughes Co. At the same time, Oklahoma’s count remained at 35 with no change. A year ago, the state recorded 39 …
Energy briefs
** Exxon Mobil on Friday posted a better-than-expected $9.2 billion second-quarter profit based on rising oil prices and volume gains from its purchase this year of shale oil firm Pioneer Natural Resources. Exxon delivered a $2.14 per share profit that beat analysts’ estimates on oil production and pricing gains that offset refining weakness. ** A U.S. circuit …
More companies to increase crude oil production this year
Coterra Energy Inc. is among a handful of oil and gas companies planning to produce more oil this year—more than originally planned. The company joined EOG Resources and Civitas Resources Inc. in admitting such plans, a move seen by some that could see the U.S. supply of oil being larger than expected. The three oil …
ONEOK reports on emissions reduction progress
ONEOK, Inc. released an annual report highlighting its greenhouse gas emissions reduction efforts and contributions to charity. The Corporate Sustainability Report highlighted the company’s progress and commitment toward environmental, social and governance (ESG) performance. The report is available on ONEOK’s website, www.oneok.com. Report Highlights: Achieved reductions equating to approximately 50% of ONEOK’s total 2030 greenhouse gas …
Ovintiv could see nearly $2 billion in free cash flow in 2024
The second quarter of Denver-based Ovintiv proved to be a strong one with $340 million or $1.27 per share in net earnings and more than $1 billion in cash from operating activities. Known in Oklahoma for its major drilling efforts in the past several years in the STACK, the company second quarter production …
Crude oil prices and OK energy stocks lost in Thursday’s trading
Thursday’s crude oil trading saw prices fall more than $1 a barrel and according to analysts appeared to be mostly unaffected by this week’s bombing death of a Hamas leader in Iran. Reuters reported investors instead turned their attention to concerns about worldwide oil demand. It came a day after benchmarks rose 4% in …
Kimray introduces emissions reduction product
Oklahoma City’s Kimray Inc. unveiled this week its entry into the world of attempting to reduce emissions in the oil and gas industry. The company released a new product, the Electric Actuator. “When customers pair the Electric Actuator with a control valve, they know they will receive durable, emissions-free control of their separation …