As it works on its long-term debt of $36 billion, Occidental Petroleum Corp has announced a $1.33 billion sale of some of its holdings in Colorado, Wyoming and Utah to Orion Mine Finance. As Reuters reported, Occidental amassed the debt it took on with its purchase of Anadarko. Occidental has been trying to …
After oil futures finished flat in Wednesday’s trading, most Oklahoma energy companies experienced declines. Only a few saw slight increases at day’s end. SandRidge Energy dropped 3 cents or 1.60% to $1.84. Devon Energy suffered a 2.21% or 25 cent drop to end the day at $11.09 a share. Continental Resources ended the day …
The U.S. crude benchmark shook off early losses to end little changed on Wednesday, finding support after government data showing a fall in gasoline inventories soothed jitters over demand as a pandemic-lightened driving season moves into its final stretch. Traders were also keeping an eye on a meeting of an OPEC+ panel that was …
Thanks to a partnership with a geoscientist in the Permian Basin, a family-owned oil company is celebrating its largest discovery yet: a 13,000-acre field in Val Verde County holding an estimated 417 billion cubic feet, or 74.2 million barrels, in oil and gas reserves. The Fort Worth Star Telegram reported Barron Petroleum, based in …
The Oklahoma Corporation Commission will meet again on Thursday and will take up a recommended continuation of a proration formula for natural gas production. Robyn Strickland, Director of Oil and Gas Conservation Division recommended the commission continue with a 50% proration formula. Her recommendation would cover the period of Oct. 1, 2020 and continue …
While the COVID-19 pandemic has affected Oklahoma’s oil and gas industry, resulting in dwindling revenues, there is still a growing call by some oil and gas leaders for more hiring at the Oklahoma Corporation Commission. In recent weeks, state legislators as well as Lt. Gov. Matt Pinnell joined about 20 oil and gas …
Norfolk, Nebraska is about to get its first solar farm but it will also be the last one allowed because of the way the contract with its electricity wholesaler is written. The contract with the Nebraska Public Power District prevents municipal customers from generating more than 10% of their peak load from alternative …
Despite the COVID-19 pandemic and its impact on the energy industry, New Mexico is on track to have another banner year as a result of oil and gas drilling and other activities on state trust lands, officials with the State Land Office said this week. The land management agency expects revenue for the recent …
The Bureau of Land Management didn’t violate federal law when it approved oil and gas lease sales in New Mexico, but it must include public participation in future lease sales, a New Mexico federal court said Tuesday. Judge Robert C. Brack issued his ruling in a lawsuit filed by WildEarth, an environmental group …
Environmental groups filed a complaint Tuesday asking a federal court to block a proposed Trump administration rule that would allow companies to transport liquefied natural gas in rail cars. As POLITICO reported the Pipeline and Hazardous Material Safety Administration recently finalized a rule to expand the type of containers that can transport LNG to include …