The number of active rigs in Oklahoma and the rest of the U.S. dropped even further in the past week, leaving only 13 drilling for new energy in Oklahoma and 374 nationally. Baker Hughes Co. reported Oklahoma suffered the loss of two more rigs leaving 13 actively drilling compared to 102 a year ago. …
Oklahoma Corporation Commissioner Bob Anthony is now speaking publicly for the first time since he voted last month against allowing a Tulsa oil company to shut-in its oil production because of the COVIS-19 outbreak and the following oil crisis. In a filing on Friday, Commissioner Anthony formally issued his dissent statement, saying the emergency order …
The oil crisis combined with the coronavirus pandemic has resulted in the layoff of more workers in Oklahoma. The impact has reached a beverage company in Oklahoma City and Muskogee where up to 75 workers were laid off this week. A & B Beverage Company, LLC, a family-owned business located at 5500 W. Reno,Suite 200 …
If one investment expert’s prediction is correct, we won’t see as many jetliners flying in and out of Oklahoma City’s Will Rogers World Airport nor the Tulsa International Airport for sometime to come. If anything, instead of national travel, business leaders will be resorting to the fast-growing Zoom video-conferencing tool. It’s the prediction and analytical …
The combination of the coronavirus pandemic and the oil crisis left Canadian pipeline operator Enbridge Inc. with a first quarter loss of at least $1.4 billion but its total was $4 billion that included charges related to investments and derivative losses. It means losses for Oklahoma too. It’s a loss that affects Oklahoma because …
For a second straight day, oil prices in the U.S. slipped along with optimism that earlier had resulted in five consecutive days of higher prices. Thursday, prices for West Texas Intermediate crude dropped 44 cents and settled at $23.56 a barrel in trading on the New York Mercantile Exchange. It represented a 2 % …
** Oil companies argued before an appeals court yesterday that a climate lawsuit led by Colorado communities should be moved to federal court. ** Navajo Power partners with solar developer sPower on a co-development deal to pursue a 200 MW solar bid with an Arizona utility. ** A conspiracy theory that baselessly links 5G technology with the coronavirus has led …
Mammoth Energy Services, Inc. announced that its earnings announcement for the quarter ended March 31, 2020, previously scheduled for release Thursday, has been postponed. An announcement confirming the date, time and call-in information of Mammoth’s earnings announcement and conference call will be provided at a later date. The Oklahoma City-based company offered no explanation for the …
Another signal of a devastated oil and gas economy in Oklahoma was revealed Thursday with the posting of the Oklahoma Energy Index which saw its single largest decline in March. The Index, a joint project of IBC Bank, the Petroleum Alliance of Oklahoma, and the Steve C. Agee Economic Research and Policy Institute fell a …
By a 2-0 vote, Oklahoma Corporation Commissioners on Thursday approved emergency rules allowing the storage of crude oil off-lease sites, something that was requested as purchasers of cheap oil wanted the ability to store their crude. After an hour-long debate concerning questions of the April 1 implementation date for applications, an issue initially raised …