Williams announced another major business move in its pipeline operations in the Gulf of Mexico. The Tulsa company said it secured another tieback to Discovery’s Keathley Canyon Connector line that will provide deepwater natural gas infrastructure services to operator LLOG Exploration Offshore, L.L.C. The services will be for LLOG’s new Salamanca development in the …
Income grew 9% for Blueknight Energy in 1Q
Blueknight Energy reported a 9% increase in its first quarter 2022 income compared to a year ago. Income totaled $6.6 million compared to $6.1 million a year earlier for the Tulsa-based energy company while its first quarter adjusted EBITDA from continuing operations amounted to $11.5 million. It also had distributable cash flow from operations …
Permian Basin activity keeps improving for Laredo Petroleum
Laredo Petroleum’s active exploration in the Permian Basin resulted in improved earnings in the first quarter of 2022. While the company reported a net loss of $86.8 million or $5.18 per diluted share, it also had cash flow from operating activities of $170.9 million which helped generate adjusted EBITDA of $222.1 million. It’s Adjusted Net Income …
Chesapeake’s 1Q had highest cash flow in company history
Chesapeake Energy reported it had the highest quarterly adjusted free cash flow in the first quarter of 2022, the highest quarterly amount in company history. The Oklahoma City-based company reported its quarterly net cash provided by operating activities totaled $853 million and adjusted EBITDAX was $913 million. It also had $19 million of cash …
ONE Gas honored with safety award
For the fifth consecutive year, ONE Gas has received an American Gas Association (AGA) Safety Achievement Award for excellence in employee safety. The award was presented at the AGA 2022 Operations Conference General Session May 4 in New Orleans, Louisiana. ONE Gas was recognized for having the lowest incident rate for the number of days away from work, …
Oil prices rose on EU’s move to ban Russian oil purchases
The proposal by the European Union to phase out Russian oil purchases within 6 months caused a sharp rise in crude oil prices on Wednesday. West Texas Intermediate crude for June delivery went up $5.40 to settle at $107.81 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude for July delivery …
ExxonMobil reduces methane emissions in SE New Mexico
ExxonMobil announced it made large progress toward the control of air pollution emissions at one of its facilities near Carlsbad in the New Mexico part of the Permian Basin. Click here for Carlsbad Current-Argus
Devon leader promises steady hand on company’s growth
After reporting a record high quarterly dividend of $1.27 per share, Devon Energy will not be tinkering with a system that is successful not only for shareholders and investors but for the Oklahoma City company. “”Now looking beyond the current year, I want to emphasize there’s no real change to how we’ll manage our …
Regulators to be briefed on funding for well-plugging projects in Oklahoma
Oklahoma Corporation Commissioners will get an update Thursday morning on federal funding for orphaned well site plugging operations. In their 9:30 a.m. meeting, the regulators will get the update from the agency’s Oil and Gas Conservation Division regarding funding under the federal Infrastructure Investment and Jobs Act. Commissioners will also consider and take a …
Continental Resources loses court fight over $2.4 million in overbilling
The Oklahoma Supreme Court ruled against Continental Resources Inc. this week in a lawsuit in which the Oklahoma City-based oil and gas company alleged it had been overbilled $2.4 million by a North Dakota oilfield company. Continental’s lawsuit was against Wolla Oilfield Services, LLC, a North Dakota limited liability company that operates as a …