After selling natural gas assets in the Anadarko Basin for $1.3 billion in August, ConocoPhillips prepares a release of its third quarter financial results. The early impact of the company’s effort to reduce debt could be seen as the company makes its release. The company will make the release before the opening of …
Category: Oil & Gas
Rick Perry-Backed Amarillo Data Center Firm IPO
Fermi Targets $715 Million IPO in Amarillo Former U.S. Energy Secretary and Texas Governor Rick Perry is helping lead one of the biggest energy-tech offerings of the year. Perry, a co-founder of Fermi, announced the company’s $715 million initial public offering (IPO), with shares expected to price between $18 and $22 each. The Amarillo-based firm …
Continental Resources makes sale of some Anadarko Basin holdings to TotalEnergies
Another big sale of Anadarko Basin assets has been made, this time by Oklahoma City-based Continental Resources. The deal is with French-based TotalEnergies in which it will acquire a 49% interest in natural gas producing assets, owned and operated by Continental Resources Basin. But neither firm offered any acquisition price. This acquisition of …
Oklahoma Rig Count Holds Steady
Oklahoma Rig Count Holds Steady Oklahoma’s oil and gas rig count was unchanged this week, according to the latest Baker Hughes Rig Count. The state continues to record 42 active rigs in operation. The Cana Woodford play remains the busiest area of drilling in the state, reporting 18 active rigs. The Granite Wash, which extends …
Energy Secretary focuses on run to be Oklahoma’s next Attorney General
Oklahoma Energy Secretary Jeff Starling announced his candidacy a few months ago for State Attorney General. He wants to succeed Attorney General Gentner Drummond who is making a full-force run to become Governor. Drummond, a Republican, has been an outspoken critic of green energy plans that were emphasized by the Biden administration. He …
Empire Petroleum Issues $4M Promissory Note
Empire Petroleum Secures $4 Million Financing Deal Empire Petroleum Corporation has entered into a new $4 million promissory note agreement with investor Phil E. Mulacek, according to the company’s latest SEC filing. The financing is aimed at supporting the company’s oil and gas drilling program and boosting working capital. Details of the Promissory Note from …
Nation’s oil and gas rig activity makes major jump
While the number of oil and gas rigs in Oklahoma held steady over the past week, the U.S. total jumped upward by 7 rigs, reaching a total of 549. The Baker Hughes Rig Count, released Friday, reported Oklahoma was unchanged this week with 42 active rigs. Nationally, the gain of 7 rigs included …
Albuquerque chosen as site of $1 billion nuclear fusion research campus
New Mexico state leaders are calling it a major win for the state—–chosen by a California-based nuclear fusion energy company to build a $1 billion research and manufacturing campus. Pacific Fusion announced it chose Albuquerque’s Mesa del Sol as the site for the facility. The firm narrowed down the choice as Albuquerquer was …
Fermi America announces next major step in development of Amarillo data center campus
(Fermi America™ and Siemens Energy teams at the signing ceremony in New York City. Pictured from left to right: Ross Berger, Larry Kellerman, Richard Reisig, Gianluigi DiGiovanni, Luke Baker, Toby Neugebauer, Andreas Pistauer, Harrison Kulick, and Nate Neugebauer.) Fermi America, in partnership with the Texas Tech University System, is announcing two landmark letters …
Drone attacks on Russian refineries sent crude prices climbing on Friday
Ukrainian drone attacks on Russian oil refineries produced a gain in crude oil prices on Friday. The attacks resulted in a cut in Russia’s fuel exports. Brent crude, the global benchmark, rose 71 cents or 1.02% to settle at $70.13 a barrel. West Texas Intermediate, the benchmark in the U.S. finished up …