As oil prices hit the $27 a barrel mark, it has resulted in fast-tumbling prices at Oklahoma gas pumps where the statewide average is down to $1.87 a gallon. But the cheapest gasoline is found in Vinita in the northeast part of the state where the average is down to $1.62 a gallon. Oklahoma’s average …
Just a few months after making layoffs from its Oklahoma operations, Houston-based Halliburton announced it will furlough nearly 3,500 workers in Houston for 60 days. Considered to be the top oilfield services provider in the U.S., the company took the move as shale producers slashed spending over the falling oil prices. The affected staff will …
Officials in North Dakota, the second largest oil-producing state after Texas are bracing for cutbacks in oil rig activity and investments in the oil and gas industry because of the oil price war and the impact of the spread of the coronavirus. They know it will mean the loss of jobs across the state. “We …
ConocoPhillips announced that it is taking several actions in response to the recent oil market downturn including a 10% cut amounting to $0.7 billion from its 2020 budget. “Our industry is clearly experiencing an unprecedented event brought about by simultaneous supply and demand shocks,” said Ryan Lance, chairman and chief executive officer. “The actions we …
An expected drop in oil output from Oklahoma’s STACK and SCOOP plays and most of the rest of the U.S. is likely to be offset by the unrelenting production in the Permian basin of West Texas and southeastern New Mexico. Data made available this week showed the Permian production is actually growing and is up …
As the coronavirus spreads throughout the U.S. and Americans are encouraged to stay home and do their shopping by mail, it means more jobs at Amazon including 1,400 more in Oklahoma. The company announced this week plans to hire another 100,000 full-time and part-time workers. The 1,400 additional workers in Oklahoma City will join …
The Toro Company, the new parent company of Oklahoma-based Ditch Witch in Perry declared a regular quarterly cash dividend of 25-cents a share. The dividend will be payable on April 9, 2020 to shareholders of record on March 30, 2020. Based in Minnesota, The Toro Company took over Ditch Witch in a $700 million deal …
A new report by the Solar Energy Industries Association shows solar energy growth occurred in 2019 across the nation but not in Oklahoma, even as some legislators attempted to emphasize energy legislation. The report showed solar accounted for nearly 40% of all new electricity generating capacity added nationally last year, which is the largest annual …
Effective Wednesday, March 18, the lobby of the Office of the State Treasurer will be closed to the public until further notice, State Treasurer Randy McDaniel announced. McDaniel said the action is being taken to limit the spread of COVID-19, protect the health of the public and treasury employees, and ensure continuity of operations. …
Tulsa’s Unit Corporation reported losses of $335 million or $6.33 per diluted share in the fourth quarter of 2019 and $553.9 million or $10.48 per diluted share for the year. The 2019 losses compared to $45.3 million or 87-cents per diluted share for 2018 and came despite a 12% year-over-year increase in oil production and …