A federal judge has ruled against a massive 5,000-well project in Wyoming involving two Oklahoma oil and gas companies. Continental Resources and Devon Energy, based in Oklahoma City, along with Anschutz Exploration of Colorado were involved in the Converse County Oil and Gas Project that was nullified in a decision by U.S. District Judge …
Category: Oil & Gas
Ascent Resources plans expanded drilling in 2026
An expanded drilling program is the goal of Oklahoma City-based Ascent Resources. The company released its fourth quarter and full year 2025 earnings report an indicated it will increase 2026 land spending by nearly 40% up to nearly $225 million. The company wants to beef up its long-term inventory and also take advantage of the …
Oil tax revenue dropped last month in Oklahoma
Gross production tax revenue for the month of February in Oklahoma took a nearly 10% drop, according to the February Revenue report issued by the State Treasurer. The tax revenue from oil and gas production was $87.4 million with a decline of 9.9% in the last year, reported Treasurer Todd Russ. “February’s report reflects …
Harold Hamm—-U.S. Senator? Maybe
The news spread quickly. By Friday morning, rumors circulated that Oklahoma oilman Harold Hamm, the man who founded Continental Resources and became a billionaire, had asked Oklahoma Gov. Kevin Stitt to be appointed U.S. Senator. Hamm wasted little time, according to reports, in phoning the governor Thursday evening after it was reported President Trump …
Oil and gas rig activity still strong across the U.S. as prices climb to $90
As crude oil prices hit more than $90 a barrel on Friday, the number of active drilling rigs in the U.S. showed a slight increase while Oklahoma’s count was unchanged. The Baker Hughes Rig Count released on Friday indicated the U.S. total grew by one to 551 and the breakdown reflected an increase of 4 …
$105 oil arrives during expanding war by US and Israel against Iran
As Iranian crude oil storage tanks burned following weekend attacks by Israeli warplanes, crude oil prices soared to more than $100 a barrel on Sunday. Prices in the U.S. hit $105.70 a barrel following a $14.80 or 16.28% jump for West Texas Intermediate crude. Brent crude, the global benchmark, rose to $106.50 a barrel after …
Oil, gasoline, diesel fuel rose again while fighting grew against Iran
While fighting continues in the Middle East and the US, Israel and other countries are relentless in their attacks on Iran, crude oil prices rose again on Thursday. Both benchmarks finished the day’s trading into the $80s as the Strait of Hormuz remained closed to oil-transporting tankers. Brent crude, the global standard finished up with …
Commissioners stand by their denial of CWIP costs by OGE—OGE plans an appeal
With a split vote on Thursday, Oklahoma regulators stood by their original denial of allowing Oklahoma Gas and Electric to charge ratepayers for an energy expansion project while it is under construction. The utility offered immediate reaction in which it said it plans to appeal to the Oklahoma Supreme Court. “OG&E is disappointed the Oklahoma …
Chevron Warns Newsom Policies Threaten CA Refineries
Chevron Warns Newsom Climate Policies Could Threaten Refineries, Jobs and Fuel Prices Chevron is raising serious concerns about California climate regulations promoted by Gov. Gavin Newsom, warning the policies could damage the state’s economy, threaten refinery operations and increase fuel prices for consumers. The warning came in a letter from Chevron President Andy Walz to …
Gulfport Energy makes $17 million share buyback
Gulfport Energy Reports $17.2 Million Share Buyback Oklahoma City-based Gulfport Energy Corporation reported this week the buyback of more than 84,000 shares of its common stock as part of the company’s $1.5 billion common share repurchasing program. The deal totaled $17.2 million in value. Repurchase Agreement Filed With SEC It reported in a filing with …