Category: Oil & Gas

Pickens Backs Out of Energy Investments for Now

The man everyone listened to about oil, T-Boone Pickens admits it—he’s cashed out on all of his energy-related positions. It’s what he recently told Bloomberg, explaining that he is waiting for the right chance to re-enter the market. He also predict…

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Empty Mancamps in North Dakota

The impact of the oil and gas downturn is evident in every state where there’s energy production. Oklahoma isn’t alone. Ask the people in North Dakota where, because of the Bakken oil play, the state had a ‘boom’ in the past several years.
But as The …

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Thieves Active in the Oil Patch

Low oil and natural gas prices aren’t the only things that energy workers have to focus on these days. How about criminals. The Canadian County Sheriff’s office, in a weekly crime report called Wise Eyes referred to numerous thefts in the oil patch.

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Rig Counts Plummeting in Oklakhoma and the U.S.

Both the nation’s and Oklahoma’s oil and natural gas rig counts are plummeting—-8 lost in Oklahoma in the past week while the nation suffered a drop of 48 working rigs. The downturn is quickly gaining speed as prices remain in the low $30s and in eff…

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OIPA Calls President’s $10 Oil Tax “Short Sighted” and “Uneducated”

The Oklahoma Independent Petroleum Association makes it clear it does not like the President’s $10 a barrel tax on oil proposal and suggests such a tax would make the U.S. more dependent than ever on foreign produced oil.
“President Obama has not hidd…

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New President Named at Holly Logistic Services

Holly Energy Partners, L.P., the firm with oil refineries in Tulsa, Oklahoma has announced the appointment of Mark A. Plake as President of Holly Logistic Services, LLC effective Feb. 15, 2016.
He will resign as President of HLS on that same date but …

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Worldwide Rig Counts Drop in Downturn

The U.S. oil and natural rig count isn’t the only sector seeing a drop. So is the international count for January 2016, according to Baker Hughes Incorporated of Houston, Texas. The count was 1,045, down 50 from the 1,095 counted in December 2015 and d…

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Nabors Industries Hit with Fitch Ratings Downgrade

Another energy company with big Oklahoma ties is facing its share of economic problems. Nabors Industries, Ltd., with offices in Oklahoma City and Woodward, is being downgraded by Fitch ratings on its Long-term Issuer Defaulting Rating from ‘BBB’ to ‘B…

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Oil Tax Said to be ‘Dead on Arrival’

President Obama wants to take another swing against the U.S. oil and gas industry by imposing a $10 fee on every barrel of domestic oil produced in the country. As The Oklahoman’s Chris Casteel reported on Friday, it will be part of the President’s bud…

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Another Oklahoma Oil Exploration Company Files Bankruptcy Protection

With more than $42 million in liabilities, the exploration and production company Osage Exploration and Development Inc. filed for Chapter 11 bankruptcy protection this week in federal court.
The company announced the filing on its website, stating, “…

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