Custer County in western Oklahoma is the site of a large gas well discovery by Continental Resources. The Oklahoma City-based energy company filed a recent completion report with the Oklahoma Corporation Commission showing production of 29,631 Mcf of natural gas. It’s not considered a ‘gigantic’ well in terms of production but still has significant …
Category: Oil & Gas
Helmerich and Payne invests in Abu Dhabi drilling company’s IPO
Tulsa’s Helmerich & Payne Inc. announced it has agreed to sell $86.5 million in 8 of its drilling rigs to a subsidiary of the Abu Dhabi National Oil Company but also making a $100 million investment in the firms announced Initial Public Offering. The Abu Dhabi National Oil Company and its subsidiary ADNOC Drilling …
Share buyback program announced by Williams Cos.
The Williams Cos. in Tulsa announced a $1.5 billion share repurchase program that is effective immediately. The board of directors gave the authority for the program to buy up the amount of the firm’s outstanding common stock. “With a strong balance sheet and excess free cash flow, we are well positioned to execute on …
Energy news in brief
** Occidental Petroleum Corp on Wednesday said in a securities filing seven of its 10 offshore oil production platforms in the U.S. Gulf of Mexico remain offline since Hurricane Ida. ** Experts say tens of thousands of people may abandon Louisiana after Ida, similar to the mass exodus that took place after Hurricane Katrina. ** A leak of …
Natural gas hits 7-year high
Watch what U.S. natural gas prices are doing after they soared to a seven-year high this week…just months ahead of the winter-heating season. The approaching winter season isn’t the only reason prices are climbing. There’s also concern over the prospects of a supply crunch reported Bloomberg. Click here for Bloomberg report.
Hyperloop Prototype to be built and tested near Pueblo, Colorado
A 23,000 acre former U.S. Army Chemical depot near Pueblo, Colorado will become a new testing site for an experimental transportation technology known as hyperloop. Freight Waves reports Swiss-American startup Swisspod agreed with Transportation Technology Center Inc. to build and test a full-scale prototype of its hyperloop system at the site about 20 miles …
Methane emissions tax: The wrong path to manage methane in Kansas and beyond
The head of the Kansas Independent Oil & Gas Association says the Biden administration’s push for a methane emissions tax is not only inappropriate but unworkable. Writing in the Kansas City Star this week, Edward Cross said the Methane Emissions Reduction Act considered by Congress is unnecessary. Click here for the Kansas City …
Bitcoin miners convene with Texan Oil and Gas Executives to talk energy
It’s now being reported that bitcoin miners recently met with about 200 oil and gas executives to discuss their increasing electricity and energy requirements. As it was reported by BelnCrypto, the meeting wasn’t exactly a quiet discussion. Instead tempers flared. Click here for BeInCrypto
SandRidge Energy pays off debt
Oklahoma City’s SandRidge Energy announced it has paid off $20 million of indebtedness it had under a credit agreement with IEP Energy Holding LLC and Icahn Agency Services LLC. Terms of the agreement were revealed in November 2020 in a filing with the Securities Exchange Commission. IEP was the lender and Icahn Agency acted …
Crude oil takes another tumble while Oklahoma stocks were mixed
For other energy stocks, it was even more of a down day according to the Texas Energy Report. Cabot Oil & Gas (COG) down 0.05 at 17.76 – change 0.29% Chevron (CVX) down 0.43 at 97.06 – change 0.45% ConocoPhillips (COP) down 0.26 at 55.98 – change 0.47% Diamondback Energy (FANG) down 0.63 at 74.93 – change 0.83% Energy Transfer LP (ET) down 0.15 at 9.50 – change 1.56% Enterprise Products Partners (EPD) down 0.19 at 22.62 – change 0.84% EOG Resources (EOG) down 0.32 at 67.67 – change 0.48% …