Tulsa’s Williams announced Wednesday that it has priced a public offering of $1 billion of its 3.50% Senior Notes due 2030 at a price of 99.495 percent of par. The expected settlement date for the offering is May 14, 2020, subject to customary closing conditions. Williams intends to use the net proceeds of the offering …
Oklahoma City’s Ascent Resources Utica Holdings, LLC reported first quarter 2020 net income of $85 million and adjusted net income of $36 million, a turnaround from the net loss of $85 million and adjusted net income of $79 million a year earlier. Ascent is the seventh largest producer of natural gas in the United States …
State officials admit they were off the mark in estimating the impact of the COVID-19 pandemic and oil crisis on Oklahoma’s General Revenue Fund collections for April. Way off the mark. The $529.1 million in collections was 44% below the monthly estimate or $416.2 million less than predicted. It was also nearly 42% or …
Oil prices in the U.S. took a nearly half-dollar hit in Tuesday’s trading as Western Texas Intermediate crude dropped 2%, settling at $25.31 for the day on the New York Mercantile Exchange. WTI fell 47 cents while Brent crude, the international benchmark gained 35 cents and finished at $29.98 a barrel. Natural gas prices fell …
North Dakota’s newly created Bakken Restart Task Force reports 6,800 wells have been shut-in since the start of the pandemic and the oil crisis caused by Russia and Saudi Arabia’s dumping of crude oil on the world market. It’s a simple number—6,800 but consider the cost of restarting those wells when the time comes. …
In the middle of the growing debate about whether to shut-in producing wells voluntarily or by orders of state regulators, there is a report that some drillers are reopening the wells they shut down in response to the pandemic-driven price collapse. It’s the word from pipeline giant Energy Transfer LP, according to the Midland …
A correction to our story about Oklahoma Corporation Commissioners considering the requests to declare oil a “waste” and allow more widespread shut-ins of crude oil wells in the state. Devon Energy was one of those firms that opposed the request of the Oklahoma Energy Producers Alliance but it took no stand on the similar request …
** Saudi Arabia said Monday it will voluntarily cut another 1 million barrels per day from June output — on top of the agreement struck last month between OPEC and Russia to cut output by 9.7 million bpd for May and June . The announcement brings the Kingdom’s total production cut to about 4.8 million b/d. Following the …
With only 13 rigs active in the state, completion reports and permits to drill in Oklahoma are few and farm between. Only one permit to drill was given on Monday and it went to Staghorn Petroleum Inc. which intends to drill in Blaine County at a site 11 miles north of Watonga. The Slo-Poke …
Joining oil and gas workers in the Oklahoma unemployment lines are employees of the Oklahoma City Convention and Visitors Bureau as well as those at Stage Stores in the State. Layoffs are due to the coronavirus pandemic. The Oklahoma Office of Workforce Development received notification that 8 workers at the Convention and Visitors Bureau were …