From Cushing in northern Oklahoma to the Permian Basin in Texas and New Mexico, the talk is growing of how to quickly expand crude oil storage capacity, whether it’s more massive tanks at Cushing to underground caverns in the Permian. The North American energy sector is weighing options from building new tanks farms to …
Tulsa-based Alliance Resources Inc. isn’t the only major U.S. coal company to lay off workers and suspend some of its mining operations in the Midwest and the East. It is one of many faced with making the same difficult decisions because of the coronavirus pandemic and the lack of demand for fuel to power facilities. …
** In response to a recent Keystone XL court ruling, the U.S. Army Corps of Engineers suspends a program that has been used for decades to approve stream and wetland crossings for pipelines, power lines and other utility projects. ** The Navajo Transitional Energy Company and Peabody Energy announce layoffs of 300 miners at three Powder River Basin mines. ** Morgan Stanley …
Ovintiv Mid-Continent Inc. made it a third well drilled at a Stephens County pad making combined production totaling nearly 1,600 barrels of oil a day. The third completion report was filed Friday with state regulators, showing the Mary J-2-4 well drilled at 24 2N 4W, west of Elmore City, had production of 549 barrels of …
With oil prices less than $20 following a Monday where prices went into the negative range, the nation’s rig count continues to dwindle, losing 64 in the past week according to the Baker Hughes figures released on Friday. Oklahoma lost four more rigs, leaving only 20 actively drilling for oil or gas in the …
Layoffs by Schlumberger are hitting Oklahoma. The Europe-based company with U.S. headquarters in Houston hinted earlier in the week that layoffs might occur and now an Oklahoma subsidiary, Cameron Drilling announced employee terminations will begin in June and July. Notification by Cameron Drilling, based in Moore was made Friday with the Oklahoma Workforce Development …
A week after Baker Hughes Co. announced the layoff of more than 200 workers at its Oklahoma City operations, the company said it would lay off more than 180 people in Houston where it is headquartered. The layoffs are expected to commence on June 15, according to a Worker Adjustment and Retraining Notification Act …
Seeking to protect itself from any takeover attempt, Chesapeake Energy on Thursday moved to adopt a poison pill…a shareholder rights plan which will protect the Oklahoma City company from those investors who might decide to seek control. Chesapeake Energy declared a purchasing dividend for its shareholders on April 23, in essence a shareholder rights plan. …
Maybe it was the result of a tweet by President Trump threatening to shoot down any Iranian boats harassing US ships in the Strait of Hormuz. Whatever it was, it caused oil prices to recover by another 22% for another day as West Texas Intermediate crude rose more than $3 a barrel to finish Thursday’s …
The Petroleum Alliance of Oklahoma announced today that after an extensive nationwide search, Brook A. Simmons formerly with Newfield Exploration has been chosen as its next president, effective May 1, 2020. “After a collaborative and exhaustive search, we are pleased to have found a new leader for the Alliance whose background and experience so …