We’ve all heard and read stories of how wealthy workers have become because of the oil and gas boom in West Texas. But $180,000 a year for cutting hair? It’s the story reported recently by the Wall Street Journal and is a must read: From The Wall Street Journal West Texas has seen its share of …
After acquiring Newfield Exploration in a $5.5 billion all-stock deal, Canadian energy firm Encana is laying off more than 270 workers at the former Newfield headquarters near Houston. The 275 job cuts will take place between now and the end of May. Newfield, the company with expansive drilling operations in Oklahoma’s STACK play had previously …
Just as earthquake experts started taking a close examination of Oklahoma following its earthquakes in the past few years, scientists are doing the same in the Permian Basin of West Texas. And they’re finding a growing increase in the number of quakes in the Delaware Basin where Oklahoma and other energy companies are going at …
Who wouldn’t like a $5.5 million severance package? It’s what Timothy L. Dove got as he retired immediately last week as chief executive at Pioneer Natural Resources Co. in Irving, Texas. He held the job slightly more than two years and was replaced by the company’s founding CEO and board chairman, Scott Sheffield. Pioneer …
The Oklahoma Corporation Commission meets Tuesday and one of the items on the agenda is an issue still related to the 2017 Tax Cuts and Jobs Act signed into law by President Trump. As a result of the Act, Oklahoma Gas and Electric had a $64 million net rate reduction which was approved by the …
The most recent filing with the Securities and Exchange Commission by ONEOK showed ownership of shares by the company’s Vice President and Chief Accounting Officer. The filing on March 1 indicated ownership of more than 14,000 shares by Mary M. Spears. Nearly 2,800 were part of her 401(k) while the remaining 12,000 were direct …
Oklahoma City’s Devon Energy has released its March Investor Presentation, highlighting its growth and accomplishments in the past year. The presentation emphasizes divestiture proceeds of $30 billion, its new assets and how its portfolio is positioned in the top oil basins in North America. It also discusses superior oil growth and pricing, improved per-unit costs …
After getting approval last week from the Federal Energy Regulatory Commission to begin construction of a 200-mile natural gas pipeline in Oklahoma, Cheniere Energy, Inc. gave the go-ahead orders to construction companies. Cheniere issued what is called a Notice to Proceed to four different companies including Strike, LLC, M.G. Dyess, Inc., TRC Pipeline Services, LLC …
While some in Congress are pushing the Green New Deal, a measure attacking the oil and gas industry, Oklahoma U.S. Sen. Jim Inhofe and others in the Senate are advocating a measure to protect the industry to some degree. Inhofe has cosponsored S. 383, the Utilizing Significant Emissions with Innovative Technologies (USE IT) Act. It …
Like most states in the oil and gas producing region, Oklahoma reported a loss of drilling rigs in the past week. Baker Hughes Co. reported Oklahoma’s count dropped by 2 to reach 115. Of the oil plays in the state, the Granite Wash, which includes the Texas Panhandle remained steady at 5 working rigs. The …