E&P

A federal court has approved Magnum Hunter Resources Corp.’s reorganization plan, a critical step that brings it closer to emerging from Chapter 11 bankruptcy.

Expectations that maintenance projects that were deferred in the U.S. onshore last year would resume early in 2016 haven’t panned out as expected, Basic Energy Services Inc. CEO Roe Patterson said Thursday. However, production-related activities “appeared to have stabilized” in March, and there’s optimism, however slight, that work is improving steadily.

As first quarter results are unveiled, expect to hear more hardship from the oilfield services (OFS) sector, energy analysts said.

A federal court has approved Magnum Hunter Resources Corp.’s reorganization plan, a critical step that brings it closer to emerging from Chapter 11 bankruptcy.

In an effort to reinforce the response to seismic activity in the state, Oklahoma Gov. Mary Fallin signed a bill clarifying that state regulators — specifically, the Oklahoma Corporation Commission (OCC) — has the authority to declare an emergency in matters pertaining to the oil and natural gas industry, and to take appropriate action when an emergency occurs.

As first quarter results are unveiled, expect to hear more hardship from the oilfield services (OFS) sector, energy analysts said.

In an effort to reinforce the response to seismic activity in the state, Oklahoma Gov. Mary Fallin signed a bill clarifying that state regulators — specifically, the Oklahoma Corporation Commission (OCC) — has the authority to declare an emergency in matters pertaining to the oil and natural gas industry, and to take appropriate action when an emergency occurs.

Devon Energy Corp. is taking $200 million for a package of Mississippian Lime/Woodford Shale assets in a sale to White Star Petroleum LLC, the newly renamed American Energy-Woodford LLC business founded by the late Aubrey McClendon.

Devon Energy Corp. is taking $200 million for a package of Mississippian Lime/Woodford Shale assets in a sale to White Star Petroleum LLC, the newly renamed American Energy-Woodford LLC business founded by the late Aubrey McClendon.