Chesapeake Energy’s filing for bankruptcy on Sunday might be a way for the company to eliminate billions in debt, but for other companies in the energy service and pipeline industry, it’s worrisome. That’s because some of those companies are among those owed the billions in debt or have service contracts with the Oklahoma City …
After weeks of speculation, Oklahoma City-based Chesapeake Energy Corporation on Sunday announced that the Company has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas—a move that came after billions in debt and layoffs in the past year. In the announcement, Chesapeake, laden with $7 billion in …
Halliburton is a step closer to bringing a total end to its connections to El Reno, Oklahoma where the company closed its Remote Operations Command Center in December 2019. The company recently sold the 86-acre site where it had 32,252 square feet of office space and a 93,500 square foot maintenance shop. CBRE …
The growing spread of the COVID_19 pandemic appears to have caused crude oil prices to drop about 3% for the week with West Texas Intermediate crude finishing down 23 cents on Friday at $38.49 a barrel. The .59% drop on the New York Mercantile Exchange on Friday only added to the declines earlier in …
Public Service Company of Oklahoma , a unit of American Electric Power has signed a 30 year lease with the U.S. Army for siting of an energy resilience project at Fort Sill, Oklahoma. The proposed project is the result of collaboration between the Army and PSO. Benefits of the project’s design include the addition …
The nation’s oil and gas rig count slipped only one to 265 rigs in the past week while Oklahoma rebounded by one to reach 10 active rigs. It means more and more oil and gas rigs have been put into storage while exploration and production companies wait for prices to rebound higher. Baker Hughes …
September won’t be the usual time for the Oklahoma State Fair to be held in Oklahoma City because officials of the historic event have canceled the fair due to the COVID-19 health crisis. In making the announcement on Friday, Timothy O’Toole, President and CEO of Oklahoma State Fair, Inc. explained, “The safety and …
Two large layoffs were announced Friday in Oklahoma including 150 workers at the Hitch Pork Processing plant in Guymon and 80 employees of the historic Skirvin Hilton hotel in downtown Oklahoma City. In a notification to County Commissioners in Guymon and the Oklahoma Office of Workforce Development, Hitch Enterprises said it would close its …
The wind farm proposed near the largest pilot training base in Texas is being built by a Chinese-owned company, GH America Energy. And the Trump administration has no plans to block it. Foreign Policy reports some lawmakers, including Republican U.S. Sen. Ted Cruz of Texas is skeptical of the massive project near Laughlin Air Force …
** Tankers carrying nearly two months worth of Venezuelan oil output are stuck at sea as global refiners shun the nation’s crude to avoid falling foul of U.S. sanctions, according to industry sources, PDVSA documents and shipping data. Washington is tightening sanctions to cut Venezuela’s oil exports and deprive the government of socialist President Nicolas Maduro …