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Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
The total rig count, which when including natural gas rig fell by 30, now stands at 541.
The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.
Casper businesses were the hub for Wyoming’s oilfields during the boom years. Today, they are rewriting business plans, reassigning machines for jobs outside the oil patch and experimenting with new product lines.
In a surprising moves to legal experts, the Supreme Court today in a 5-4 ruling stayed the implementation of the EPA’s Clean Power Plan (CPP) supporting greenhouse gas reductions at fossil fuel fired power plants. The move was surprising because the Supreme Court rarely involves itself in the determination of whether or not a temporary […]
The cut will save the company $450 million annually.
The 13-member OPEC raised its daily output by 280,000 barrels in January as Saudi Arabia, Iran and Iraq bolstered production.
The Oklahoma City oil and gas producer has some $11.6 billion in debt and a $500 million note due next month, according to regulatory filings.
Prices at the pump are currently at their lowest prices in seven years courtesy of bountiful supply and cheap costs of crude oil
According to the U.S. Geological Survey, Oklahoma this year has already had more than 90 earthquakes of magnitude 3.0 or greater, which is generally when most people start to feel them.