April 28, 2016 archive

Oil Hits $46 a Barrel for First Time Since November

Oil futures settled above $46 a barrel Thursday, as seven straight weeks of declines in U.S. crude production as well as weakness in the dollar helped lift prices to their best level in nearly six months, according to Bloomberg MarketWatch. Some analysts questioned whether crude will continue its positive momentum given a lack of significant …

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T. Boone Pickens: America’s Oil Industry is ‘Dead in the Water’

Billionaire energy investor T. Boone Pickens said earlier this week that he believes the U.S. oil industry is “dead in the water” as OPEC members continue to pump more crude and U.S. companies curb drilling. Speaking at a dinner hosted by the Committee to Unleash Prosperity, Pickens that he doesn’t expect U.S. drilling operations to pick up again any time …

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Completion Reports April 29, 2016

ALFALFA COUNTY Chesapeake Operating Llc 8 27N 11W Dogwood 5-27-11 2h, April 14, 2016 HH, TA, TD: 10500 ft Lat: 36.84017, Long: -98.40871 API: 35003231920000 CLEVELAND COUNTY Glb Exploration Inc Hunton(5615): Water 36 Pump 13 8N 1E Kennedy 1-13, April 05, 2016 SH, DRY, TD: 7205 ft Lat: 35.16784, Long: -97.15658 API: 35027212070001 Trey Resources …

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Permits to Drill April 29, 2016

Noble County WILLIAMS #2-6, March 29 2016 06 22N 2E NWNWNESE API: 10324715 Lat: 36.41258855178482, Long: -97.12514958536163 WELLCO ENERGY INC SH, AM, 5150 ft, TONKAWA(2538), OSWEGO(3865), RED FORK(4104), MISSISSIPPI LIME(4395), WOODFORD(4602), VIOLA(4645), 1ST WILCOX(4695), 2ND WILCOX(4751), ARBUCKLE(4990) Woods County PETE 2515 #1H-24D, April 28 2016 19 25N 14W NWNWNWNW API: 15124469 Lat: 36.637469061158036, Long: -98.75490915058828 …

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Armed Services Committee Votes Against Protection for Greater Sage Grouse

  The U.S. House Armed Services Committee, including Oklahoma Representatives Steve Russell and Jim Bridenstine turned back a move by a Democratic Representative to strip part of a national defense spending bill that included exemption of protection for the greater sage-grouse on military lands. The vote was 27-35 against removing the limits as part of …

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ETE Announces Quarterly Cash Distribution

Energy Transfer Equity, L.P., the company involved in a messy merger with Tulsa-based Williams Cos. has announced a quarterly cash distribution of $0.285 per common unit. That figures to be $1.14 per unit on an annualized basis or a 16-cent a unit increase. It is also a 16% increase compared to the first quarter of …

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Oil and Gas Employment Holds Steady in Oklahoma…..Government Employment Continues to Grow

While the state’s oil and gas industry held its own in March, the latest employment report from the Oklahoma Employment Security Commission indicates there was still a loss of at least 600 jobs from March 2015 to this year. The reported indicated the oil and gas sector, defined in the Commission’s Mining and Logging division …

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ConocoPhillips Reports $1.5 billion in First-Quarter Losses

  ConocoPhillips says it lost nearly $1.5 billion in the first quarter of 2016 so it has reduced its 2016 capital spending as a result of the impact of the industry’s low energy prices. The Company, with major operations in Ponca City and Bartlesville reported a first quarter loss of $1.47 billion or $1.18 a …

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Inhofe says Oklahoma Will Gain from New Water Development Act

  Senator Jim Inhofe says as chairman of the Senate Environment and Public Works Committee, he’s been able to get a Water Resources Development Act of 2016 approved that will directly benefit Oklahoma. “WRDA 2016 ensures that Oklahoma projects, including the McClellan-Kerr Arkansas River Navigation System and the Tulsa and West Tulsa Levee System, continue …

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Rep. Russell Wages Fight against New Space Rocket Engines

  Before joining others on the U.S. House Armed Services Committee in approving a $610.5 billion National Defense Spending bill this week, U.S. Rep. Steve Russell waged a fight against spending billions on new engines for America’s space rockets. As the Committee hearing seeped into the early morning hours of Thursday, the Congressman said his …

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