Another takeover in the oil and gas industry. Earthstone Energy, Inc. announced its $950 million acquisition of Sabalo Holdings, LLC based in Corpus Christi, Texas. The deal includes nearly 21,000 acres in the Midland Basin as well as 488 gross operated horizontal drilling locations and another 349 non-operated locations. Earthstone acquired the assets with $650 …
There’s just no letup in the political battle over whether the gross production tax on oil and gas in Oklahoma should be raised to a full 7 percent. Democratic candidate for governor Drew Edmondson is campaigning to increase the GPT while Republican Kevin Stitt is against it. So one legislator wants to learn more details …
Using money from its share of the VW emissions scandal lawsuit settlement, the state’s unveiled two new environmental programs. The Oklahoma Department of Environmental Quality announced the availability of funding from two programs, the Oklahoma Clean Diesel Program (DERA) and the Alternative Fuel School Bus Program, to be spent towards reducing vehicle emissions in the …
More multi-well pad sites will be drilled in Oklahoma’s STACK play according to permits to drill issued this week by the Oklahoma Corporation Commission. Tulsa-based Pride Energy Co. is planning five wells at one pad site in Blaine County. Located in the oil and gas rich area between Watonga and Kingfisher, the Red Land #3, …
The latest earthquake in southern Kansas struck Wednesday evening near the small town of Metcalf, a place shaken by a quake earlier in the day. The U.S. Geological Survey says it was a 2.8 magnitude quake at 6:06 p.m. with a depth of about 3 miles. Metcalf is about 43 miles west of Arkansas City, …
Environmental problems have been discovered at the Canon Air Force base near Clovis, New Mexico. Here’s what Politico’s Morning Energy Report explained: The Air Force alerted New Mexico officials Tuesday that toxic PFAS chemicals used in firefighting foam have been detected at levels more than 23 times EPA’s recommendation in drinking water supplies near Cannon …
Led by Oklahoma’s Cherokee Nation, several Indian tribes asked the D.C. Circuit Court of Appeals this week to strike down an FCC rule that allows mobile carriers to build small-cell fixtures without getting tribal approval. Ten tribes originally filed an appeal with the Federal Communications Commission in August but this week, took their case to …
Canadian County officials moved this week to reject a settlement offer over a lawsuit filed by Oklahoma City’s Chaparral Energy. The energy firm sued the county earlier in the month in a dispute over about 4 acres of land it wants for a well site next to the Canadian County Children’s Justice Center. The suit …
A North Texas federal court of appeals has given Oklahoma City’s Devon Energy something of a victory in defending itself from lawsuits filed by East Texas royalty owners. The 5th U.S. Circuit Court of Appeals, which covers cases in Texas, Louisiana and Mississippi, reversed a lower court’s ruling that certified a class of natural …
Whenever an energy company can increase the amount of money it can borrow from a revolving credit, that’s usually a good sign. Take the case of WildHorse Resource Development based in Houston. The firm has operations in the Eagle Ford in South Texas and the Austin Chalk of East Texas. This week, it announced its …