• OIL AND GAS PRICES

    Published: Fri, Jan 29, 2016

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Thursday: Oklahoma Sweet: Sunoco Inc. — $29.75 Oklahoma Sour: Sunoco Inc. — $17.75 Oklahoma oil and gas drilling activity posted Jan. 18: COMPLETION Alfalfa: Chesapeake Operating LLC; Wilber 26-27-11 No. 1H Well; SW1/4 SE1/4 SE1/4 SE1/4 (SL) of 26-27N-11W; 574 barrels oil per day, 2,321,000 cu-ft gas per day; TD 10,834. Midstates Petroleum Co. LLC; Baker 2512 No. 5H-28 C Well; SE1/4 SE1/4 SW1/4 SE1/4 (SL) of 28-25N-12W; 365 barrels oil per day, 2,176,000 cu-ft gas per day; TD 11,966. Midstates Petroleum Co. LLC; Baker 2512 No. 5H-33 C Well; SE1/4 SE1/4 SW1/4 SE1/4 (SL) of 28-25N-12W; 207 barrels oil per day, 1,705,000

  • Harold Hamm, CEO of Oklahoma City-based Continental Resources, expects oil prices to rebound by mid-2016

    By Adam Wilmoth Energy Editor awilmoth@oklahoman.com | Published: Thu, Jan 28, 2016

    While most observers expect a tough 2016, Oklahoma City oilman and Continental Resources CEO Harold Hamm expects to see crude prices begin recovering by mid-2016 and "by the end of this year we will see $60 oil."

  • Oklahoma business briefs for Jan. 29, 2016

    From Staff Reports | Published: Thu, Jan 28, 2016

    Oklahoma business briefs for Jan. 29, 2016

  • Helmerich & Payne announces 'better than expected' first quarter results

    BY CASEY SMITH, Tulsa World | Published: Thu, Jan 28, 2016

    Tulsa-based Helmerich & Payne reported Thursday net income of $16 million from operating revenues of $488 million for the first quarter of its 2016 fiscal year that ended Dec. 31. Those earnings represent a significant — 92 percent — drop compared to the same quarter a year ago, which ended in December 2014, when net earnings were $203.6 million and operating revenue was $1.06 billion. Helmerich & Payne's first quarter earnings were 15 cents per diluted share, compared to earnings of $1.87 per diluted share in the first quarter of the company's fiscal year 2015.

  • Oklahoma wind capacity on track to pass California for third place

    By Paul Monies Business Writer pmonies@oklahoman.com | Updated: Wed, Jan 27, 2016

    Oklahoma remained in fourth place among states for wind capacity in 2015 but could surpass third-place California by next year with projects in the pipeline.

  • Oklahoma, 28 other states seek stay in appeal of EPA's Clean Power Plan

    By Paul Monies Business Writer pmonies@oklahoman.com | Published: Wed, Jan 27, 2016

    The U.S. Supreme Court was asked Tuesday to grant a delay for Oklahoma and the 28 other states who've filed an appeal of the Environmental Protection Agency's Clean Power Plan to reduce greenhouse gases at generating plants. Oral arguments in the case were scheduled for June 2 last week after the U.S. Court of Appeals for the District of Columbia denied a stay.

  • OIL AND GAS PRICES

    Published: Wed, Jan 27, 2016

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Tuesday: Oklahoma Sweet: Sunoco Inc. — $28 Oklahoma Sour: Sunoco Inc. — $16 Oklahoma oil and gas drilling activity posted Jan. 14: COMPLETION Alfalfa: Midstates Petroleum Co. LLC; Baker 2512 No. 6H-28 D Well; SE1/4 SE1/4 SW1/4 SE1/4 (SL) of 28-25N-12W; 522 barrels oil per day, 3,706,000 cu-ft gas per day; TD 11,900. Coal: Pablo Energy II LLC; Eddings No. 3H-20 Well; SE1/4 SW1/4 SE1/4 SW1/4 (SL) of 20-01N-10E; 3,510,000 cu-ft gas per day, 33 barrels oil per day; TD 13,047. Pablo Energy II LLC; Eddings No. 4H-20 Well; SE1/4 SW1/4 SE1/4 SW1/4 (SL) of 20-01N-10E; 3,675,000 cu-ft gas per day, 48 barrels oil per day; TD

  • Continental cuts drilling budget by two-thirds but predicts price recovery

    By Paul Monies Business Writer pmonies@oklahoman.com | Updated: Tue, Jan 26, 2016

    Oklahoma City-based Continental Resources said it plans to spend $920 million for capital expenditures this year, but officials predict there will be a price recovery in the energy industry this year. In 2015, Continental spent $2,5 billion.

  • OIL AND GAS PRICES

    Published: Tue, Jan 26, 2016

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Monday: Oklahoma Sweet: Sunoco Inc. — $26.75 Oklahoma Sour: Sunoco Inc. — $14.75 Oklahoma oil and gas drilling activity posted Jan. 13: COMPLETION Canadian: Newfield Exploration Mid-Con Inc.; Kunneman No. 1H-29X Well; NE1/4 NW1/4 NW1/4 NW1/4 (BHL) of 29-14N-07W; 367 barrels oil per day, 591,000 cu-ft gas per day; TD 19,950. Carter: Wildhorse Operating Co.; Telford No. 5-27 Well; NE1/4 NE1/4 NW1/4 NE1/4 of 27-02S-02W; 2 barrels oil per day; TD 1,595. Wildhorse Operating Co.; Telford No. 6-27 Well; NW1/4 SE1/4 NE1/4 NE1/4 of 27-02S-02W; 1 barrels oil per day; TD 1,250. Wildhorse Operating Co.; Telford No.

  • SandRidge hires financial advisers as its draws down credit

    By Paul Monies Business Writer pmonies@oklahoman.com | Updated: Mon, Jan 25, 2016

    Oklahoma City-based SandRidge Energy Inc. says it has hired financial advisers to explore a possible restructuring. The company also says it drew down the remaining $489 million from a $500 million line of credit that will be used for "general corporate purposes."

  • SandRidge borrows $489 million

    By Adam Wilmoth Energy Editor awilmoth@oklahoman.com | Published: Mon, Jan 25, 2016

    SandRidge Energy Inc. last week borrowed almost $489 million, maxing out the credit line it secured early last year, the company said Monday. The Oklahoma City-based oil and natural gas producer said it plans to use the money for general corporate purposes. "Our cash is a valuable asset, and in this volatile market, having guaranteed liquidity provides the maximum operation and financial flexibility to SandRidge," spokesman David Kimmel said in a statement Monday. "By fully drawing on our revolver, we ensure that all of our liquidity is readily available to us." Including the $11 million SandRidge withdrew previously, the company now owes nearly $500 million on the credit line and has $855 million in cash on hand.

  • Oil foil

    By Carla Hinton Religion Editor chinton@oklahoman.com | Published: Sat, Jan 23, 2016

    Religious leaders say they are feeling the effects of the recent downturn in the energy industry, and are working on strategies to offset the financial and spiritual anxieties that have resulted.

  • OIL AND GAS PRICES

    Published: Sat, Jan 23, 2016

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Friday: Oklahoma Sweet: Sunoco Inc. — $28.75 Oklahoma Sour: Sunoco Inc. — $16.75 Oklahoma oil and gas drilling activity posted Jan. 12: COMPLETION Alfalfa: Midstates Petroleum Co. LLC; Richter 2612 No. 2H-11 A Well; SW1/4 SW1/4 SW1/4 SW1/4 (SL) of 11-26N-12W; 367 barrels oil per day, 2,150,000 cu-ft gas per day; TD 10,976. Custer: Continental Resources Inc.; Pickens Quarter No. 1-34-27XH Well; NE1/4 NW1/4 NW1/4 NW1/4 (BHL) of 27-15N-14W; 9,052,000 cu-ft gas per day, 8 barrels oil per day; TD 21,635. Grady: Apache Corp.; Thurston 1-5-6 No. 1H Well; SW1/4 SW1/4 SW1/4 SW1/4 (SL) of 01-05N-06W; 1,446,000 cu-ft gas per

  • Seventy Seven Energy receives delisting notice and downgrade

    By Paul Monies Business Writer pmonies@oklahoman.com | Published: Sat, Jan 23, 2016

    A day after Oklahoma City company Seventy Seven Energy Inc. received a delisting notice from the New York Stock Exchange, Moody's Investors Service on Friday downgraded some debt of oil-field service company.

  • First National redevelopment sale adjusts office vacancies downtown

    By Richard Mize Real Estate Editor richardmize@oklahoman.com | Published: Sat, Jan 23, 2016

    Price Edwards & Co. has taken First National Center off the books as available office space after its sale to developers to be turned into a hotel, apartments and parking. Its removal helps the marketability of other, vacant space downtown, the firm reports.

  • Chesapeake suspends preferred stock dividends

    By Paul Monies Business Writer pmonies@oklahoman.com | Updated: Fri, Jan 22, 2016

    Chesapeake Energy Corp. shares got a brief boost Friday morning after the company announced it would free up $170 million in cash annually by suspending dividends from its preferred stock. The gains were short-lived as shares went over $4 in morning trading before falling again to close at $3.51.

  • How will oil prices affect downtown development?

    BY STEVE LACKMEYER slackmeyer@opubco.com | Updated: Fri, Jan 22, 2016

    The Oklahoman's Steve Lackmeyer took questions from readers in today's OKC Central Live Chat. You can join Steve's Q&A's on Fridays at 10:30 a.m. and submit your questions about the happenings in and around downtown Oklahoma City.

  • OIL AND GAS PRICES

    Published: Fri, Jan 22, 2016

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Thursday: Oklahoma Sweet: Sunoco Inc. — $26 Oklahoma Sour: Sunoco Inc. — $14 Oklahoma oil and gas drilling activity posted Jan. 11: COMPLETION Canadian: Cimarex Energy Co.; Phillips No. 5-34H Well; SW1/4 SW1/4 SE1/4 SW1/4 (SL) of 34-14N-10W; 1,127 cu-ft gas per day, 36.9 barrels oil per day; TD 17,277. Grady: Ward Petroleum Corp.; Kent No. 1-27H Well; NE1/4 NW1/4 NE1/4 NE1/4 (BHL) of 27-06N-08W; 558 barrels oil per day, 559 cu-ft gas per day; TD 16,340. Kingfisher: Chaparral Energy LLC; Dover Unit (Chickadee) 1807 No. 2MH-13 Well; SE1/4 SW1/4 SE1/4 SE1/4 (SL) of 12-18N-07W; 400 barrels oil per day, 942 cu-ft gas per

  • Plugging In briefs for Jan. 22

    Theme briefs | Published: Fri, Jan 22, 2016

    Plugging In briefs for Jan. 22, 2016

  • Court rejects Oklahoma's effort to stay Clean Power Plan

    By Paul Monies Business Writer pmonies@oklahoman.com | Published: Fri, Jan 22, 2016

    At question is a plan to cut greenhouse gas emissions at power plants.




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