Continental Resources Inc. reported a first quarter net loss of $198 million, or 54 cents per share, after cost-cutting measures failed to offset declining oil prices, according to a press release issued by the company. The larger-than-expected drop compares with a loss of $132 million, or 36 cents per share, posted a year ago. Revenues …
Houston-based Newfield Exploration Company, one of the most active energy firms in Oklahoma’s oil plays reports reported a net loss of $624 million in its first quarter of 2016. It amounted to a loss of $3.52 per diluted share as the company blamed much of the loss on a full-cost ceiling test impairment of …
Just how badly has the energy downturn hit some companies? Ask executives at HollyFrontiier Corporation based in Dallas where first quarter net income totaled $21.3 million compared to the $226.9 million compared to a year ago. The income was $0.12 per diluted share for the quarter ended March 31, 2016 compared to the $1.16 paid …
Oklahoma City-based Enable Midstream is reporting adjusted earnings of $215 million in the first quarter of the year, an increase from the $207 million reported one year ago. The company said that’s an increase of $8 million or four percent. It also saw an increase in crude oil gathered volumes by 22.13 thousand barrels a day …
Devon Energy Corp. posted narrower losses for its first quarter on Tuesday, helped in part by a 36% decline in expenses as the oil and gas producer responded to depressed energy prices with a deep cut of its workforce according to The Wall Street Journal. During the three-month period ended in March, the Oklahoma City-based company …
Tulsa’s ONEOK Inc. on Tuesday reported profits of $83.4 million for the first quarter, or 40 cents a share in the first quarter, up roughly 37 percent compared to $60.8 million, or 29 cents a share earned for the same period a year ago. Tulsa pipeline company, ONEOK Partners LP, which owns one of the …
A Chesapeake Energy Corporation subsidiary laid off 98 employees on Tuesday as part of the continued oil and natural gas industry slowdown. Oklahoma City-based Compass Manufacturing L.L.C. designs, manufactures, installs and sells natural gas compressor equipment. The company was formed in 2007 to supply Chesapeake Energy Corporation and MidCon Compression with natural gas production equipment, …
When it comes to the best states for working moms, whether it’s in the oil patch, coal mines or electrical crews, Oklahoma is in the bottom tier of the states according to a survey by WalletHub. The organization said Vermont’s number one while Oklahoma is ranked 36th based on 13 metrics including day-care, professional …
The solar-powered airline that landed on the west coast of the United States just a week ago flew to Phoenix, Arizona on Monday, safely completing the 10th leg of its round-the-world quest. Solar Impulse 2’s crew will now prepare for a flight to somewhere in the Midwest. The plane, with wings stretching wider than those of …
Energy Transfer Equity is taking steps that may enable it to renegotiate its $20 billion cash-and-stock acquisition of Williams Companies, Inc., Reuters reported late Monday evening. The companies are seeking to reduce the number of days specified for completing some of the deal’s administrative requirements, which would give them time to engage in renegotiation of terms …
