Oklahoma

Two Midstreamers Pick Up Water, Natural Gas Pipelines in Separate Lower 48 Deals

Two Midstreamers Pick Up Water, Natural Gas Pipelines in Separate Lower 48 Deals

Houston-based Black Bear Transmission LLC said Thursday it has completed the sale of natural gas gathering assets in Oklahoma and Arkansas acquired earlier this year from Enbridge Inc.   The assets, owned by Ozark Gas Gathering LLC (OGG), were sold to an undisclosed buyer and terms were not released. OGG was acquired from Enbridge as part…

October 1, 2020
Natural Gas Pipeline Explosion Rattles Kingfisher County in Oklahoma Oil Patch

Natural Gas Pipeline Explosion Rattles Kingfisher County in Oklahoma Oil Patch

A raging fire lit up the night sky in rural Oklahoma Wednesday night after a natural gas explosion about three miles north of Piedmont in Kingfisher County, on a pipeline owned by DCP Midstream Partners LP. DCP confirmed to NGI there was a “pipeline release” around 8:30 p.m. The cause was not yet known. “At…

September 17, 2020
Explosion Rocks Natural Gas Pipeline in Heart of Oklahoma Energy Patch

Explosion Rocks Natural Gas Pipeline in Heart of Oklahoma Energy Patch

A raging fire lit up the night sky in rural Oklahoma Wednesday night after a natural gas explosion about three miles north of Piedmont in Kingfisher County, on a pipeline owned by DCP Midstream Partners LP. DCP confirmed to NGI there was a “pipeline release” around 8:30 p.m. The cause was not yet known. “At…

September 17, 2020
Oklahoma Keeps Natural Gas Proration Formula at 50%

Oklahoma Keeps Natural Gas Proration Formula at 50%

The Oklahoma Corporation Commission (OCC) has voted to leave a proration formula in place that limits natural gas production from some of the state’s most prolific wells.  In a 2-1 vote, with Chairman Todd Hiett and Commissioner Dana Murphy in support of the current formula, operators are required to limit an unallocated gas well’s absolute…

August 31, 2020
Chaparral Seeking Chapter 11 Protection, while Lilis Looking to Unload Permian Assets

Chaparral Seeking Chapter 11 Protection, while Lilis Looking to Unload Permian Assets

Anadarko Basin-focused Chaparral Energy Inc. said Monday a voluntary bankruptcy protection plan is in the offing to reduce debt and continue operating.  The Oklahoma City-based independent, which filed Chapter 11 petitions in U.S. Bankruptcy Court for the District of Delaware, has a restructuring support agreement (RSA) with funded debt holders to equitize $300 million of…

August 17, 2020
Marathon Oil Slashes Costs, But Says it is Gathering Production Momentum

Marathon Oil Slashes Costs, But Says it is Gathering Production Momentum

Marathon Oil Corp. said stabilization in commodity prices enabled the company to raise its full-year oil production outlook even as it keeps costs in check and further lowers its capital expenditure (capex) plans. Houston-based Marathon — which works in Oklahoma, the Delaware Basin and the Bakken and Eagle Ford shales — raised slightly its 2020…

August 10, 2020
Natural Gas Futures Slip as EIA Storage Data Reflects ‘Woefully Oversupplied’ Market

Natural Gas Futures Slip as EIA Storage Data Reflects ‘Woefully Oversupplied’ Market

Natural gas futures buckled under pressure Thursday after a slightly larger-than-expected storage injection sapped the momentum prices had earlier in the week. The September Nymex futures contract settled at $2.165, down 2.6 cents day/day. October also slipped 2.6 cents to $2.305. Spot gas prices softened across the board as well, dragging down NGI’s Spot Gas…

August 6, 2020
Gulfport Keeping Utica Natural Gas Curtailed to Await Better Prices

Gulfport Keeping Utica Natural Gas Curtailed to Await Better Prices

Gulfport Energy Corp. is still curtailing Appalachian natural gas production in anticipation of better prices later this year and into 2021.  Given an uncertain economic outlook, weak energy demand and a slight rebound in associated gas volumes, Gulfport remains “cautious near-term on natural gas pricing,” said CEO David Wood during a call to discuss second…

August 6, 2020
Midcontinent Oil, Gas Execs Looking for Higher Prices to Boost Activity as Covid-19 Takes Toll

Midcontinent Oil, Gas Execs Looking for Higher Prices to Boost Activity as Covid-19 Takes Toll

Oil and natural gas operators that work through the midsection of the country faced dire activity levels during the second quarter and don’t expect much of an uptick through the rest of the year. The Federal Reserve Bank of Kansas City, aka the Kansas City Fed, every quarter traces energy activity in the Tenth District,…

July 13, 2020
Finally Toppled by Debt, Chesapeake in Bankruptcy

Finally Toppled by Debt, Chesapeake in Bankruptcy

Chesapeake Energy Corp., once a symbol of the American natural gas industry’s revival and a disruptive leader that helped spark the nation’s unconventional boom, filed for Chapter 11 protection on Sunday to wipe out $7 billion of debt.  The move follows months of speculation and years of cost-cutting initiatives at the Oklahoma City-based independent, which…

June 29, 2020
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