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Train passenger service hits a snag
Proposed passenger rail service between Oklahoma City and Tulsa was derailed this week when Stillwater Central Railroad failed to meet a 6-month pilot program. Click here to read the story in The Oklahoman.
Increased revenues reported by WPX Energy
Tulsa’s WPX Energy reported increased oil production as well as second quarter income for 2019. Total production revenues for the quarter came to $558 million and were seven percent higher than the second quarter of 2018. Total product revenues of $1,065 million during the first half of 2019 were 15 percent higher than $927 million …
Mississippi firm makes $147 million buyout offer of Tulsa’s Blueknight Energy
Tulsa-based Blueknight Energy Partners, L.P. announced it has received a $147 million buyout offer from Ergon, Inc. based in Jackson, Mississippi. Ergon, Inc. is a crude oil processor, transporter and marketer of refined products including asphalt. It also manufactures road maintenance products and equipment and predominant owners are members of the Lampton family including William …
Decline in revenues reported by Enable Midstream
Oklahoma City’s Enable Midstream Partners LP reported a decline of overall revenues for the second quarter 2019 but an increase in net income. The company had total revenues of $735 million, a decline of $70 million compared to the $805 million reported in the second quarter of 2018. Net income attributable to limited partners was …
Despite increased oil production, Unit Corporation reports a 2Q loss
Tulsa-based Unit Corporation reported a second quarter net loss of $8.5 million or 16 cents a share compared to $5.8 million in net income and 11 cents a share for the second quarter of 2018. The company blamed the loss on the declining prices of natural gas liquids. The company’s adjusted net loss for the …
Chesapeake reports a dime a share loss but record oil production
Despite record oil production in the second quarter of 2019, Oklahoma City-based Chesapeake Energy reported a quarterly loss of a dime a share. The company had earnings of 15 cents a share one year ago. Chesapeake reported revenues of $1.45 billion for the quarter that ended in June while one year ago, its revenues …
3,800 barrels of oil a day on a single pad and 3 wells in Blaine County
Devon Energy reports three wells on a single pad in Oklahoma’s STACK produced nearly 3,800 barrels of oil a day upon completion. The Baker 9_6-15n-11w wells were drilled at 9 15N 11W or about 3 miles southeast of the city of Watonga in Blaine County. The largest well had production of 1,374 barrels of oil …
Permits to drill for August 5, 2019
Permits to drill filed on August 5, 2019. Cleveland County CONRADO #1-25, August 05 2019 25 10N 4W SENWNESE API: 02721500 Lat: 35.310657944747106, Long: -97.56806642151706 GULF EXPLORATION LLC SH, DR, 10000 ft, PENN BASAL(7750), HUNTON(7900), VIOLA(8350), WILCOX(8700), TULIP CREEK(9100), MCLISH(9200), OIL CREEK(9500), ARBUCKLE(9600) Garvin County LEWIS #22-4N-3W, August 05 2019 22 4N 3W SESESWNW API: 04925305 Lat: …
Completion reports for August 5, 2019
Completion reports filed on August 5, 2019. ALFALFA COUNTY Bce-mach Llc Mississippi Lime(5958): Oil 239 Gas 1540 Water 1666 Gaslift 20 25N 12W Sharp 20-25-12 2h, September 19, 2018 HH, OIL, TD: 10885 ft Lat: 36.63722, Long: -98.51730 API: 35003233290000 Bce-mach Llc Mississippian(5048): Oil 304 Gas 1969 Water 1435 Pump 8 28N 11W Alva 5-28-11 1h, October 23, 2018 HH, OIL, TD: 10274 ft Lat: 36.92754, …
Continental Resources sees 20% drop in profits in 2Q
Oklahoma City-based Continental Resources’ second quarter earnings came in short of estimates as the company reported net income of $236.6 million or 63 cents a diluted share. Quarterly adjusted profit was down 19.7% because of weaker crude and natural gas prices that offset an increase in the company’s overall production. U.S. light crude prices averaged …