** U.S. crude oil production is down 100,000 barrels per day from last week, to 12.2 million bpd, according to data from the Energy Information Administration. The agency also calculated crude production is down 800,000 bpd from the end of March. ** Almost three dozen oil tankers carrying 20 million barrels of oil are gathered off California’s coast, with …
Manufacturing plummets to 26-year low in Oklahoma and surrounding states
It no doubt comes as no surprise that manufacturing in Oklahoma and other states that make up the Tenth District of the Federal Reserve Bank of Kansas City dropped in the past month. But what is a surprise is that the April Manufacturing Survey found results at their lowest level in 26 years. ““If the …
Weld County Colorado knows it will be hit hard
One northern Colorado County knows it will take an especially hard hit from the pandemic and the oil crisis. It is Weld County, the heart of the D-J Basin where Oklahoma companies like SandRidge Energy have produced some lucrative wells. But the COVID-19 pandemic has slapped the county hard, as BizWest discovered in a series …
Truck maker turns to producing portable morgues to deal with bodies in pandemic
Normally Acela Truck Company, based in Belgrade, Montana manufactures high-mobile fire and rescue trucks—brush pumpers and the like used to fight wildfires. But the company has now been asked to do something entirely different on the manufacturing spectrum—make portable morgue trailers for the federal government as it deals with the deaths from COVID-19. The …
Lankford Calls on FCC to Expand Rural Broadband, Update 5G Coverage Maps
Senators James Lankford (R-OK), Joe Manchin (D-WV), Jon Tester (D-MT), and Cindy Hyde-Smith (R-MS) called on the Federal Communications Commission to update the broadband coverage maps being used to distribute the 5G Fund’s $9 billion to expand reliable broadband access across America. During the COVID-19 pandemic, it has become increasingly clear that millions in …
Energy companies warned of being delisted from trading
More energy companies are being warned of being delisted from the Nasdaq Stock Market and the New York Stock Exchange because trading of their shares has fallen too low in the past month. One is Oklahoma City-based Mammoth Energy Services, Inc. and another is Nine Energy of Houston. Mammoth was notified last week that for …
No letup in Ovintiv drilling activity in Oklahoma
Two more completion reports were added by Ovintiv Mid-Continent Inc. this week to a four well single pad site in Stephens County making for combined production of more than 3,200 barrels of oil a day from the six wells. The two Mary J-2-4-25-36 wells were drilled on the same pad at 24 2N 4W …
Cushing oil hub reported to be full to the brim
If the Cushing oil hub isn’t totally filled with oil by now, what space is left is already spoken for—a sign of the times as the oil crisis worsens due to lack of demand caused by the actions of Russia and Saudi Arabia and the crush of the coronavirus pandemic. Reuters found out that …
Chesapeake Energy sued over oil pipeline contract
Oklahoma Pipeline operator Glass Mountain LLC is suing troubled oil and gas producer Chesapeake Energy Corp for allegedly defaulting on an oil transportation contract that had been renegotiated weeks earlier. Glass Mountain LLC, based in Oklahoma City not only builds crude oil pipelines but owns lines that serve the STACK/Merge, Granite Wash and Mississiplpi …
Slow rebound continues for oil prices but they’re still weak
Two days after dropping into negative territory, oil prices on Wednesday rose 23% to reach $14.23 a barrel for West Texas Intermediate crude after an increase of $2.66 in trading for the day. Analysts credited an improved investor sentiment to additional stimulus measures passed by the U.S. Senate. Still, the oil market remains broken over …