A somewhat mild winter resulted in lower sales for Compass Minerals, an Overland Park, Kansas based company that provides essential deicing salt. The company announced its first quarter 2020 winter weather activity in North America and the United Kingdom was below average. Eleven representative cities in the company’s primary North American highway deicing service …
The combined impact of the COVID-19 epidemic and the plunge of crude oil prices forced ExxonMobil to make further cuts in its 2020 capital spending. The company announced Tuesday it would reduce capex by 30% and lower cash operating expenses by 15%. Capital investments for 2020 are now expected to be about $23 billion, down …
Houston’s big pipeline and storage company Plains All American has cuts its capital spending this year by 33 percent or $750 million, according to its latest announcement. Combined with the elimination of joint venture project funding, the reduction is actually 47% or $1.35 billion. “We are taking a number of actions in response to the …
Construction got underway over the weekend in northern Montana on the Keystone XL oil sands pipeline meant to be an extension of an existing Keystone line in Oklahoma and Texas. The extension has been bitterly fought by environmentalists and tribal leaders. A spokesman for TC Energy said the work started on the $8 billion project …
While ONEOK, Inc. is preparing to release its first quarter 2020 earnings later this month, the company also took part Tuesday in a virtual summit aimed at attracting investors. ONEOK took part in the SunTrust Robinson Humphred Power, Utilities and Midstream Summit virtual conference and made investor materials available on its website, www.oneok.com. The quarterly release of …
Struggling after emerging from its 2016 bankruptcy reorganization, Oklahoma City’s SandRidge Energy on Tuesday announced the naming of a new company president. At the same time, it suggested further employee reductions are coming along with a suspension of drilling activities and its remaining 2020 capital expenditures budget. Carl F. Giesler, Jr., formerly CEO …
Oklahoma’s STACK play keeps coming up with big producers as completion reports filed this week showed three sister wells with combined oil production of nearly 2,000 barrels a day. It was in Blaine County where Paloma Operating Co. LLC, based in Houston drilled the three Big Nugget 9_4-15N 13W wells. The site is at 9 …
** President Trump on Friday said he would nominate a judge who has called on his colleagues to curb agency independence to a seat on the federal appeals court where many of the nation’s environmental and regulatory disputes are decided. ** U.S. oil-by-rail volumes have declined 11% from a year ago as new pipelines and price declines offer cheaper …
As a survey of 30 analysts, strategists and traders showed they believe oil prices will plunge below $20 a barrel, the price of oil on Monday fell more than $2 to a level of slightly more than $26 a barrel. The CNBC survey indicated some analysts believe crude prices will actually fall to as low …
Oklahoma regulators have yet to respond to one oil group’s request to consider action to help oil and gas producers, but in Texas, the Railroad Commission plans an April 14 emergency meeting to discuss curbing oil production. The meeting will specifically discuss a complaint from Pioneer Natural Resources and Parsley Energy “to determine reasonable …