** Civeo Corporation announced that it has scheduled its first quarter 2020 earnings conference call for Thursday, May 7, at 10:00 a.m. Central Time (11:00 a.m. Eastern Time). During the call, Civeo will discuss financial and operating results for the quarter, which will be released before the market opens on Thursday, May 7, 2020. ** Venezuelans reported …
Layoffs hit journalists who report on oil and gas cutbacks
From the oil patch to the people who cover the oil patch—layoffs are hitting the journalists who report on the thousands who lost their jobs at Oklahoma oil and gas companies. Now someone’s writing about them. Gannett, owner of at least ten publications based in Oklahoma, started laying off people at its newspapers across …
Administration against Congresswoman Horn’s oil purchase plan
While Oklahoma congresswoman Kendra Horn is pushing a plan for the government to buy up cheap U.S. oil for the country’s strategic oil reserve, she and her supporters have run into opposition with the Trump administration. Energy officials are expressing doubts the administration will create a workable plan to help the industry with such …
Financial reports to reveal impact of oil crisis and pandemic
The impact of the coronavirus and the oil crisis on some of the nation’s leading oil and gas companies will be made readily evident this week and next week. BP reports its first-quarter earnings on Tuesday and Shell will follow suit on Thursday with giants ExxonMobil and Chevron on Friday. Those reports will give investors …
Quarterly distribution announced by Blueknight Energy Partners
Despite the basement-bottom oil prices, Blueknight Energy Partners, L.P. in Tulsa announced a quarterly cash distribution. It wasn’t much, but the 4-cent a common unit was still a distribution in addition to the cash distribution of $0.17875 per unit on the Partnership’s preferred units for the quarter that ended March 31, 2020. The declaration was …
Red Bluff Resources halts drilling
It’s not just the big oil companies struggling in the oil crisis, laying off hundreds of workers and making the momentous decision to shut in wells and stop the flow of too much crude into the world market. Small companies are suffering perhaps even more. One example of their suffering was reported this week in …
6,000 oil and gas jobs lost in a single day
The numbers are staggering—more than 6,000 oil and gas jobs were lost in a single day last week. It wasn’t just layoffs at Schlumberger, Chesapeake, SandRidge, Baker Hughes and Halliburton in Oklahoma. It was in Texas too. Oil and gas companies announced plans to cut more than 6,400 jobs on a grim day for the …
Diamond Offshore Drilling the latest to file for bankruptcy
After months of operating what it called “precipitously” Diamond Offshore Drilling took the plunge, filing for Chapter 11 bankruptcy in Texas. In a Chapter 11 petition filed at the U.S. Bankruptcy Court for the Southern District of Texas (Houston), the rig contractor controlled by Loews Corp. L said operating conditions had worsened “precipitously in recent months,” according …
90 cent gasoline in Oklahoma
A week after oil prices dropped into negative territory before rebounding into a range of less than $20 a barrel, gasoline prices in Oklahoma dropped another two cents a gallon, reaching a low of $1.36. While oil producers are hurting, drivers are smiling when they pull up to the pumps. But GasBuddy reports gas is …
Colorado becomes even more aggressive in pushing electric cars and trucks
Colorado has updated its aggressive plan to put thousands of electric cars and trucks on the roads in the coming years, a move its leaders believe will clean the air for future generations and at the same time distance the state for dependency on the fossil fuel industry. “As an administration and as multiple …