ConocoPhillips announced its estimated production curtailment amounted to 225,000 barrels of oil equivalent a day in the second quarter of 2020. It also intends to resume production in most operations beginning in July. The company said 65% of the curtailments were in the Lower 48 and 15% were in Alaska. Another 15% were in …
Houston-based Prime Energy, a firm with major operations in Oklahoma, Texas and West Virginia reported increased revenues in the first quarter that ended March 31, 2020. The company stated its revenues were $26,108,000 compared to $24,419,000 reported one year ago. Prime Energy also reported a net loss of $170,000 compared to more than $3 …
Southern Oklahoma is where a Texas energy firm has completed 5 wells on a single pad with crude oil production of more than 1,500 barrels a day. XTO Energy Inc., based in Spring, Texas filed amended completion reports on the wells that had spud dates in October and November 2018 and January of 2019. …
A day after announcing its bankruptcy filing, Oklahoma City’s Chesapeake Energy received a delisting warning from being traded on the New York Stock Exchange. The NYSE notified the company on Monday that it intended to being proceedings to delist the company’s common stock and to suspend trading following Chesapeake’s Chapter 11 bankruptcy reorganization. The …
Chesapeake Energy Corporation announced that the U.S. Bankruptcy Court for the Southern District of Texas has approved the Company’s motions seeking a variety of “first-day” relief, including authority to pay owner royalties, employee wages and benefits, and certain vendors and suppliers in the ordinary course for goods and services provided. Chesapeake intends to use the …
Cushing, Oklahoma may be the self-proclaimed Pipeline Crossroads of the World but it’s now the epicenter of a contentious federal securities class action complex litigation matter. A federal lawsuit was filed last week in the United States District Court for the Southern District of New York on behalf of investors of the United …
The Oklahoma State House of Representatives received 88 interim studies proposals before the June 26, 2020 deadline. As expected, several requests covered the COVID-19 pandemic and a dozen relate directly to the state’s energy industry. Here’s the complete list of Oklahoma House interim studies requests for 2020: 20-001 Delisting and Assignment of Benefits (Rep. …
Harold Hamm, Founder and Executive Chairman of Continental Resources, Inc., purchased 4,736,264 shares of the energy company’s common stock on the open market from June 22, 2020 to June 25, 2020 at market prices, according to a Continental Resources press release issued Monday. Hamm’s total holdings amount to 289,659,385 shares, or approximately 79.3% of the Company’s total common …
Oil futures were up in Monday’s trading and analysts credited improved energy demand, even as the world pandemic from COVID-19 has grown. West Texas Intermediate crude jumped 3.14% or $1.21 a barrel, ending Monday’s trading on the New York Mercantile Exchange at $39.70. The Brent benchmark on the ICE Futures in London rose 66 …
Republican Oklahoma Corporation Commissioner Todd Hiett faces a challenge in Tuesday’s primary election as he attempts to win re-election. First elected to the Commission in November of 2014, he took his oath of office in January 2015. Hiett is being challenged by Harold Spradling, who is 85 and from Cherokee and previously ran unsuccessfully …