Category: Oil & Gas

Hamm’s Still Predicting a Rebound of Oil Prices in 2016

Oilman Harold Hamm remains bullish on the oil and gas industry, repeating his prediction that the future still looks bright for the industry and prices will rebound later this year. He first made the prediction earlier in the month during an interview …

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Anemic Oil and Gas Rig Count Grows Weaker

With oil prices hovering around the $33 a barrel mark late in the week, the nation’s oil and gas producers are quickly backing off drilling efforts as the nation lost another 18 rigs in the past week, tumbling to a total of 619 still in the fields. Okl…

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Lost Jobs Mount in Growing Oil and Gas Downturn

While Oklahoma’s loss in the oil patch figures to be close to 12,000 employees in the past year, in the state of Texas an estimated 288,000 have lost jobs because of what’s happened to energy prices. One report says 72,000 of those are direct losses in…

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Oklahoma Injection Wells Received Tiny Amount of Out-of-State Wastewater

Not all of the wastewater dumped into those controversial injection wells suspected of causing earthquakes in Oklahoma came from state wells. A small amount came from out-of-state.
Of the 1.5 billion barrels pumped back below the earth’s surface in 2…

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Fitch ratings Changes Energy Industry Outlook to Negative

In a move that will affect some Oklahoma energy companies and their possible borrowing abilities, Fitch Ratings in New York has revised its 2016 rating outlook for the U.S. Oil and Gas industry to Negative from Stable.
It’s due to the impact of fallin…

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Halliburton Confirms 4,000 Layoffs in Last Few Months

Houston-based Halliburton confirms it laid off another 4,000 workers in the final three months of 2015 bringing the total to nearly 22,000 employees let go since 2014. The reduction amounts to a 25 percent cut in the company’s global workforce and comp…

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Downturn Creates Chance for Tulsa’s BlueStone Natural Resources to Expand

While many major oil and gas companies are retrenching amidst the energy downturn, Tulsa-based BlueStone Natural Resources is expanding with the recent $245 million purchase of bankrupt oil and gas producer Quicksilver Resources of Fort Worth, Texas.

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Williams Slashes $1 billion from Capital Expenditures as Prices Remain Low

Tulsa based Williams and Williams Partners have announced they’re slashing their 2016 growth capital funding by nearly $1 billion or 32 percent from the partnership’s previous plans. The new funding goal totals $2 billion and according to the Monday an…

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Feds Now Want ‘Flaring’ Practice Banned on Public Lands

Stating that 40 percent of the methane gas being ‘flared’ or burned off by oil companies on public lands could be captured economically and sold, the Obama administration wants to create new rules putting an end to the practice. A report by the Governm…

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SandRidge Energy Unloads Holdings in downtown OKC and West Texas

Two big financial announcements were made recently by financially-struggling SandRidge Energy, Inc. in Oklahoma City. On Friday, the company announced it and a third party agreed to settle all claims between them arising out of a 30-year agreement for …

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