Monthly Archive: September 2016

Has Jobless Path Bottomed Out for Oklahoma’s Energy Sector? One Expert says it’s Possible

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The trend of oil and gas workers being let go by the thousands in Oklahoma might have bottomed out.

So says Lynn Gray, Director of Economic Research at the Oklahoma Employment Security Commission.

“I’m cautiously optimistic that if oil and gas prices stay in the range they’re in, we may have seen the …

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Chesapeake Proves Haters Wrong after OPEC Announcement

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The moves by Oklahoma City’s Chesapeake Energy this week proved to be successful as OPEC agreed to cut its production and the company announced a private placement of up to $1 billion of convertible 10-year debt.

The announcement came less than a day after OPEC’s announcement of cutting oil production by 700,000 barrels …

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Bakken Might be Better than Ever, but Continental Resources’ Jack Stark says Best Play is Oklahoma’s STACK

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The Bakken is better than ever. It’s what Jack Stark, president and COO of Oklahoma City’s Continental Resources recently told the North Dakota Petroleum council Annual Meeting. And his company will be there for years to come.

There’s a good reason why Continental will be busier than ever in the Bakken. Nearly two-thirds …

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Latest Aubrey McClendon Estate Fight Focuses on Alleged Conflict of Interest

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One of the growing legal issues confronting the estate of the late Oklahoma oil and gas mogul Aubrey McClendon focuses on the sale of 18,000 production acres in Oklahoma’s SCOOP and STACK plays.

The investment group, Wilmington Trust which is a major creditor in the McClendon probate case, is opposed to the sale …

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McClendon’s Widow Unloading $14 million Mansion in Bermuda

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Aubrey McClendon’s widow is attempting to sell their luxury home in Bermuda for nearly $14 million.

Called Winsor House, it sits on a cliffside and is officially listed for sale for $13.9 million.  Already, it is under contract according to the Royal Gazette. The paper also said that despite the huge price …

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Newfield Wraps up $380 million Sale of Texas Holdings

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Newfield Exploration, the Houston-based company with a large presence in Oklahoma’s STACK play has finished its $380 million sale of its oil and gas assets and undeveloped acreage in Texas.

The company announced earlier in the year of its plans to unload the Texas holdings so it could focus on the successful STACK. …

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SandRidge Prepares to Emerge from Chapter 11 Bankruptcy with Aggressive Drilling Program

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Oklahoma City-based SandRidge Energy is expected to come out of bankruptcy in the coming week and already has announced plans to spend an estimated $250 million on 37 wells in the remainder of the year.

SandRidge filed Chapter 11 bankruptcy earlier in the year but now plans to embark on an aggressive drilling …

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Ground Water Protection Council Gets $5 million Energy Department Grant

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WASHINGTON – U.S. Sen. Jim Inhofe (R-Okla.), chairman of the Senate Environment and Public Works (EPW) Committee, praised the $5.2 million Department of Energy (DoE) grant awarded to the Ground Water Protection Council in Oklahoma.

‘I applaud the Ground Water Protection Council for being awarded this $5.2 million federal grant, showing that …

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Chesapeake Hit With Another Federal Subpoena on Account Methodology

Oklahoma City-based Chesapeake Energy Corporation has received a new subpoena from the U.S. Department of Justice, according to a report published in The Oklahoman.

In its Form 8-K filed on Thursday with the U.S. Securities and Exchange Commission, Chesapeake disclosed the company received a DOJ subpoena seeking information on its accounting methodology for …

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OPEC Decision to Limit Production Results in Higher WTI, Brent Crude Settlements on Thursday

Crude oil futures soared higher on Thursday as traders positively reacted to OPEC’s plan to scale back production, according to Bloomberg MarketWatch.

In Algiers, OPEC members agreed to a scaled back production plan on Wednesday. Cartel members agreed on a preliminary outline to cut its collective output to between 32.5 million barrels a …

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