In response to weak progress in restoration of oil output following Hurricane Ida, crude oil prices managed about a 1% increase in Wednesday’s trading. But it didn’t do much to cause gains for Oklahoma energy stocks. West Texas Intermediate crude managed a 95 cent increase or 1.4% gain to $69.30 a barrel. Global benchmark …
More drilling in Carter and Kingfisher Counties
We’ve been following the expanded drilling in Southern Oklahoma’s Carter County and found yet another permit to drill was issued by regulators for the area. Stephens & Johnson Operating CO. of Kamay, Texas received the permit for the TUSSY DEESE UNIT #SKM 15 located about 4 miles north of Ratliff City. The county site is …
ONEOK participates in Barclays CEO Energy-Power conference
ONEOK, Inc. is taking part this week in virtual meetings at the Barclays CEO Energy-Power Conference. The conference began Wednesday and continues through Thursday. ONEOK management will participate in a fireside chat session at 9:10 a.m. Eastern Daylight Time (8:10 a.m. Central Daylight Time) on Thursday, Sept. 9. A link to the live webcast, …
Oklahoma moves to No. 7 in national highway bridge conditions
One year after becoming a Top Ten State for highway bridge conditions, Oklahoma has managed to keep the pace and run up the score – moving from No. 9 in the nation to No. 7 among states with the lowest percentages of structurally deficient bridges on the highway system in 2020. Oklahoma was once near …
Major gas well discovery in western Oklahoma
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 …
Hidden hazardous waste site slows OKC Park expansion
The MAPS 3 plan to expand Oklahoma City’s Scissortail Park has been hit with a major problem in the discovery of a buried pit of crushed battery casings—a hazardous waste site. The Oklahoman reported this week the disposal of the newly-found site has already cost the MAPS 3 budget $400,000 and most cost lies …
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 …
Town sues over tribal meat processing plant near Glenpool
The Muskogee Phoenix reports residents of the eastern Oklahoma town of Winchester are going to court against the Muscogee Nation in a fight to shut down a new tribal-funded meat processing operation. The paper says the town and five families are accusing the Looped Square Meat Processing Co. plant of violating environmental laws under the …
