June 7, 2016 archive

WTI, Brent Crude Settle Over $50 a Barrel on Tuesday

Oil futures continued trading higher on Tuesday, besting marks not seen since last year, according to Bloomberg Marketwatch. July West Texas Intermediate crude added 67 cents, or 1.4%, on the New York Mercantile Exchange to end trading at $50.36 a barrel. August Brent crude, the global benchmark, tacked on 89 cents, or 1.8%, to settle …

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Tulsa Mayor, Former Williams Leaders Advise Shareholders to Reject ETE Merger

Tulsa Mayor Dewey Bartlett and three former Williams Companies chief executive officers joined forces in an effort to block the company’s merger with Energy Transfer Equity LP, according to a Bloomberg report. “My city will bear a very substantial cost for a transaction that destroys value for the shareholders it is supposed to benefit,” said …

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Completion Reports June 8, 2016

ALFALFA COUNTY Chesapeake Operating Llc 23 27N 12W Rice Trust 14-27-12 1h, May 23, 2016 HH, TA, TD: 10515 ft Lat: 36.81126, Long: -98.46582 API: 35003231870000 BLAINE COUNTY Continental Resources Inc Mississippian(9730): Oil 2345 Gas 5966 Water 1363 Flow 23 16N 10W Verona 1-23-14xh, May 03, 2016 HH, OIL, TD: 19997 ft Lat: 35.84174, Long: …

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Permits to Drill June 8, 2016

Alfalfa County SAM 9-27-11 #1H, June 07 2016 09 27N 11W NENWNENE API: 00323237 Lat: 36.84018740475008, Long: -98.38071151082063 CHESAPEAKE OPERATING LLC HH, DR, 10700 ft, MISSISSIPPIAN(5100) Garfield County BLACK BEAR CREEK #1, December 08 2015 26 22N 3W SWSENESW API: 04725061 Lat: 36.35131943516035, Long: -97.48891877493224 ALLTERRA ENERGY LLC SH, DR, 2100 ft, HERINGTON(900), HOTSON(1500), RAGAN(2000) …

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Seventy Seven Energy Files Pre-Packaged Chapter 11 Plan

Oklahoma City-based Seventy Seven Energy Inc. announced it has filed a pre-packaged plan for Chapter 11 bankruptcy in the Bankruptcy Court for the District of Delaware. In doing so, the company said the plan provides for a substantial deleveraging transaction pursuant to which nearly $1.1 billion of the company’s outstanding debt will be converted to …

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Gary England Bridge Proclaimed Near Seiling by Governor Mary Fallin

  With the stroke of her pen, Oklahoma Gov. Mary Fallin signed a bill into law on Monday proclaiming a bridge over the North Canadian River near Seiling to be the “Meteorologist Gary England Bridge.” The bridge spans the river on U.S. Highway 60 north of the hometown of England who later went on to …

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Tax Rebate Program for At-Risk Oil Wells Cut with Governor’s Signature

  The measure cutting Oklahoma’s tax credit for at-risk oil wells to $12,500,000 a year was signed into law Monday by Gov. Mary Fallin. Senate Bill 1577 was sent to her last week after the legislature debated its merits. The cost-cutting move came after experts decided that falling energy prices might increase the credit to …

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Enid Considering Sales Tax to Finance Kaw Lake Water Pipeline

The city of Enid is considering a possible election to allow voters to decide on a sales tax hike to fund a Kaw Lake water pipeline project. City Commissioners might ask voters to create a new 1/4 percent tax to pick up where a quarter percent tax funding capital improvements will end in March 2018. …

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Oklahoma Gasoline Averages $2.13 a gallon, but Texas Flooding Might Affect Prices

Gasoline prices in Oklahoma continue holding at an average of $2.13 a gallon, according to the latest price survey from AAA Oklahoma. It is the same price as one week ago. Nationally, the average is $2.36 a gallon a increase of four cents a gallon since last week’s Memorial Day Holiday. “The state average has …

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Chevron Still Fighting Superfund Cleanup at Abandoned Mine near Red River, N.M.

Chevron USA is still fighting the Environmental Protection Agency, contending that the Federal government should pay some of the cleanup costs at the Superfund site that once was the company’s Questa Mine in northern New Mexico. The company made recent arguments to the U.S. 10th Circuit court of Appeals in Denver, hoping to revive its …

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