Originally published on 26 June 2018 in the Journal of Petroleum Technology by Pam Boschee, Senior Editor
GE announced today that it is spinning off Baker Hughes (BHGE) in its strategic plan for growth and shareholder value creation. It plans to focus on aviation, power, and renewable energy.
GE CEO John Flannery said these areas share technologies, digital and additive strategies, and business models.
Baker Hughes, a GE company has posted Weekly Rig Count reports.
Baker Hughes Rig Count: U.S. +5 to 1,013 rigs
U.S. Rig Count is up 5 rigs from last week to 1,013, with oil rigs up 5 to 820, gas rigs unchanged at 192, and miscellaneous rigs unchanged at 1.
U.S. Rig Count is up 156 rigs from last year's count of 857, with oil rigs up 132, gas rigs up 25, and miscellaneous rigs down 1 to 1.
The U.S. Offshore Rig Count is up 2 rigs to 18 and down 2 rigs from last year's count of 20.
Baker Hughes, a GE company has posted Weekly Rig Count reports.
Baker Hughes Rig Count: U.S. +10 to 1,003 rigs
U.S. Rig Count is up 10 rigs from last week to 1,003, with oil rigs up 11 to 808, gas rigs unchanged at 194, and miscellaneous rigs down 1 to 1.
U.S. Rig Count is up 164 rigs from last year's count of 839, with oil rigs up 136, gas rigs up 29, and miscellaneous rigs down 1 to 1.
The U.S. Offshore Rig Count is unchanged at 12 rigs and down 10 rigs from last year's count of 22.
Oklahoma Energy Today | April 06, 2018
The man known nationwide as a “corporate raider,” Carl Icahn makes it clear, he wants control of Oklahoma City-based SandRidge Energy Inc.
After putting pressure on the company’s board late last year convincing it to pull out of a $746 million merger with Denver-based Bonanza Creek Energy, Icahn made it clear he intended to nominate at least one person to the SandRidge board. This past week in a regulatory filing with the Securities and Exchange Commission he said he will nominate a full slate to the board, a move that could allow him to dictate strategy for the company.
Emily Patsy | Associate Managing Editor, Hart Energy. Thursday, March 29, 2018
Unit Corp. (NYSE: UNT) said March 29 it agreed to sell a stake in its midstream affiliate for $300 million, which will partly be used to boost the company's E&P drilling program.
The sale comprises a 50% equity interest in Superior Pipeline Co. LLC, a wholly-owned subsidiary of Unit. The buyer, SP Investor Holdings LLC, is jointly owned by OPTrust and funds managed and/or advised by Partners Group, a global private markets investment manager.
April 04, 2018 | Oklahoma Energy Today
Oilman and cattleman Tom Ward has expanded his newly-formed company’s holdings in northwest Oklahoma with the purchase of more than 1,100 wells and 155,000 acres from Chesapeake Energy, the company he helped found years ago.
Ward’s BCE-Mach LLC announced the closing of the deal on land and wells in Woods and Alfalfa Counties. BCE-Mach LLC, a partnership between Bayou City Energy Management LLC and Mach Resources LLC of Oklahoma City was formed with a focus on acquisitions with strong cash flow generation and drilling inventories.
The purchase involves nearly 1,150 wells with daily production of...
Seismic work is underway across the entire Middle East and North Africa in search of new, giant shale reserves.
Based on what Bahrain just found, there are probably oceans of oil and gas yet to be found.
Who knows what unexplored shale reservoirs under Ghawar field (Saudi Arabia), Burgan field (Kuwait), Safaniya field (Offshore Saudi Arabia), and Upper Zakum field (Offshore Abu Dhabi) may hold?
by Mark Christian - January 20, 2018 - Updated 8:01 pm CDT
Author's note: It is helpful for readers to understand wastewater disposal when reading the recently published study by Virginia Tech researchers. To enhance that understanding, I included a couple of paragraphs about wastewater disposal via underground injection in Oklahoma.
Since 2011, Oklahoma became the most earthquake-prone state in the nation. Over the same time period, the volume of wastewater pumped into the Arbuckle formation via wastewater disposal wells increased 81%, a fact that plays a leading role in the scientific community's hypothesis that wastewater disposal wells induce seismic activity.
By Mark Christian | March 21, 2018
SEOUL, March 21 -- SK Innovation Company announced its intention to buy a 100 percent stake in Longfellow Nemaha, a U.S. gas exploration firm with acreage in Oklahoma. The transaction will be made by through SK's North American subsidiary, SK E&P America, Inc.
SK announced plans for a $4 billion dollar investment in U.S. shale during an economic mission to Wahington D.C. last year, and the Longfellow deal is their first acquisition in that growth initiative.
SK E&P America said Tuesday that it has entered into a definitive agreement to "acquire all of the outstanding membership interests of Longfellow Nemaha" in a transaction set to close in the second quarter of 2018.
Oklahoman | by Adam Wilmoth | 09/26/2017
Oklahoma City-based Chaparral Energy Inc. and Houston's Bayou City Energy have agreed to a $100 million joint venture for 30 wells in Oklahoma's STACK play, the companies said Monday.
The deal includes 17 wells in Canadian County and 13 in Garfield County, with the ability to expand the partnership to include additional wells in the future. The companies already have begun drilling their first joint-venture well.
Natural Gas Intelligence | by Carolyn Davis | March 21, 2018
Mach Resources LLC, formed last year by Oklahoma City energy guru Tom L. Ward, (photo) is partnering with Houston-based Bayou City Energy Management LLC as an equity partner to get more skin in the game for oil and natural gas development in the Midcontinent.
The partnership, BCE-Mach LLC, initially would work Oklahoma and Kansas acreage, while looking for “acquisition opportunities” with strong cash flow generation and drilling inventories. No financial details were provided.
REUTERS | March 26, 2018 | Reporting by John Benny in Bengaluru; Editing by Gary McWilliams and Phil Berlowitz
A little-known oil play in Oklahoma is attracting more drilling and investment as rising output from newer wells is enticing companies to boost production beyond the giant Permian basin in Texas.
CAMARILLO, Calif. -- BNK Petroleum Inc. has announced that the Company has finished the fracture stimulation of the Glenn 16-2H well in the Company’s Tishomingo field, in the SCOOP area of Oklahoma.
The Glenn 16-2H well was fracture stimulated with 10.7 million pounds of proppant and had 33 stages successfully stimulated. Flowback is expected later this week, after the plugs have been drilled out and the completion string is run. Production rates will be announced once stabilized rates have been obtained.
Joel Parshall, JPT Features Editor | 18 March 2018
Producers in the recently opened Merge play of Oklahoma’s Anadarko Basin are sitting atop a resource that rivals some of the world’s major gas fields and largest new discoveries, Geology CEO Greg Augsburger of Citizen Energy told the SPE Gulf Coast Section Business Development Group recently.
Merge lies between the prolific STACK (Sooner Trend, Anadarko, and Canadian and Kingfisher [counties]) and SCOOP (South Central Oklahoma Oil Province) plays, effectively tying them together. Privately funded Citizen Energy, formed in 2012, drilled the Merge discovery well in September 2015 and 18 delineation wells before significant competitor interest emerged.
Oklahoman Published: February 3, 2018 12:00 AM CDT
Oklahoma crude oil prices as of 5 p.m. Friday: