Baker Hughes Rig Count: Oklahoma Adds Two Rigs Last Week

The U.S. rig count remained unchanged at 404, according to the Baker Hughes weekly rig count released on Friday.

Leading the pack with the largest gain in North America, Oklahoma added two rigs last week, bringing the cumulative number of active rigs to 59. A year ago, Oklahoma had 106 rigs.

Louisiana gained …

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ETE Seeks Merger Termination in Delaware Counterclaim as Dallas Case is Dismissed

Striking back against its antagonistic merger partner, Dallas-based Energy Transfer Equity, L.P. announced on Thursday that it recently filed its affirmative defenses coupled with a counterclaim in the Delaware Chancery Court lawsuit originally brought by The Williams Companies, Inc. on May 13.

In the Delaware action, ETE also seeks a declaratory judgment allowing …

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WTI Oil Climbs Above $50 on Thursday for First Time Since July


Crude oil futures hit the key mark of $50 a barrel on Thursday before retreating lower as traders remained cautious due to global output concerns and excessive storage supplies, according to Bloomberg MarketWatch.

For the first time since last July, West Texas Intermediate crude under the new July contract advanced to $50.21 a …

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US House Passes Energy Reform Bill—-Oklahoma Representatives Supported It


Environmentalists don’t like it but the U.S. House has approved a new version of the energy policy overhaul on a 241-178 vote that was along party lines.

Oklahoma’s U.S. Representatives James Bridenstine, Tom Cole, Frank Lucas, Markwayne Mullin and Steve Russell were among the 241 who passed the bill that resurrects the Keystone …

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Boren Makes $200,000 Sale of Continental Resources Shares


In what is considered ‘legal’ insider trading, University of Oklahoma President David Boren sold 5,000 shares this week he had as a board of director member at Continental Resources. The May 20 sale, according to The Market Digest showed Boren sold the shares at $41.10 a share for a total value of $205,502.

The …

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Harold Hamm Remains Oklahoma’s Richest Man Even after Losing More than $9 billion in 20 Months


Even after losing more than $9 billion over a year and a half period, Oklahoma oilman Harold Hamm, the man who founded and still runs Continental Resources remains the richest man in Oklahoma. He is still sitting pretty as he manages his vast fortune and empire.

Forbes reports the $9.4 billion lost …

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SEC Gives Go-Ahead to Williams Companies to Mail Merger Ballots


The U.S. Securities and Exchange Commission has granted approval to Williams Cos. of Tulsa to its Form S-4 document required for shareholders to be able to vote on the controversial proposed merger with Dallas-based Energy Transfer Equity.

The approval came Wednesday in which the SEC ruled the form is “effective.” It is a …

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Wichita Tech Firm Doubling Employment


At least 100 new years will be added in the coming year by SNT Media based in Wichita, Kansas.

The 5-year old company announced plans to more than double the current workforce of 80 employees over the next 12 months.

“We are solidly operationalizing here in Wichita,” said Tonya Witherspoon, a spokeswoman for the company …

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Biomass Electricity Production Increases Most in the South


When it comes to the use of biomass in producing electricity across the nation, the country’s deep south is leading the way.

While Oklahoma is considered part of the southern states creating the electricity, the increased use of biomass really occurred in Virginia, Florida and Georgia. US electricity generation, according to the U.S. Energy Information …

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South Central Kansas Oilman Indicted in $8 million Scheme


A south central Kansas man has been indicted on charges of running a nearly $8 million oil and gas scheme and if he’s convicted could get up to 20 years in prison.

Federal prosecutors in Wichita revealed the indictment this week against David Lawson of Hillsboro, Kansas. the 70-year old was the owner and director …

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