Tulsa’s Laredo Petroleum reported fourth quarter 2018 net income of $149.6 million or 65 cents a share. It also stated its net income for all of 2018 totaled $325 million which translated to $1.39 per diluted share. Laredo’s production averaged 68,168 barrels of oil equivalent a day during 2018 which was a 17% increase over …
After 117 years of being Oklahoma owned, the Perry-based Charles Machine Works, makers of Ditch Witch equipment has been sold in a $700 million deal to the Toro Company. Toro is based in Bloomington, Minnesota and explained it is a cash deal for the Ditch Witch company that was founded in 1902. The deal is …
Oil and gas rig counts fell in the past week in several energy-producing states including Oklahoma where the count dropped one to reach 119. The national rig count grew by 2 to reach 1,051. It included 3 more oil rigs to reach a total of 857 while the gas rig count dropped by on e …
Oklahoma’s congressional delegation split its votes on the border wall funding agreement that was passed in the U.S. Senate then in the House. Sen. Jim Inhofe voted against the measure saying it failed to provide sufficient funding for border security. “I’ve been saying this from the beginning—we need to seriously strengthen our border security to …
A Boston, Massachusetts-based company has made a filing with the Securities and Exchange Commission on its ownership of shares in Oklahoma City’s Devon Energy. State Street Corporation indicated it has shared voting power with 22,705,926 shares in the company. But its total share ownership amounts to 24,475,859 which amounts to 5.2% ownership in Devon. State …
Chesapeake Energy Corporation announced a partnership to accelerate the company’s digital transformation and data-driven growth initiatives. Chesapeake continues to build momentum in early 2019, with a concentration on operational efficiency and optimization, capital discipline and growth by leveraging advanced data science and machine learning/AI to solidify its position as a top-tier operator. The …
When oil prices go up,so do the oil and gas taxes in North Dakota. But a move is underway to eliminate the so-called “trigger” tax. The trigger tax was created in 2015 when legislators reduced the overall tax charged on oil production from 11.5 percent to 10 percent. The trigger was added to increase the …
Dry conditions are sneaking into western Oklahoma again as the latest Drought Monitor report shows a slip in the amount of the state that has no drought. The Monitor indicates 92% of Oklahoma has no dry conditions, down from the nearly 97% reported a week ago. The amount of land considered to be “abnormally dry” …
Trash hauling can be profitable. Just ask management at Waste Management, Inc., the company whose trucks are seen throughout Oklahoma. The Houston, Texas-based firm announced an increase in fourth quarter revenues which topped $3.84 billion compared to the $3.65 billion reported for the same period in 2017. Net income for the quarter was $531 million …
An amended completion report was filed this week on a Continental Resources well that saw initial production of more than 2,500 barrels of oil a day in Blaine County, one of the principal counties that make up the STACK play. The report was on the Madeline 2-4-9XHM well located about 4 miles northwest of Watonga. …