#OilmanNEWS 2016 July-August Oklahoma 

Oklahoma’s STACK Play Gaining Attention

Despite continuing low commodity prices, activity in the fairly new STACK play in Oklahoma has become a main focus for operators working in the Sooner state. Just this week, Newfield Exploration bought 42,000 acres from Chesapeake Energy expanding their industry-leading STACK footprint to approximately 265,000 net acres. More than 90% of the acreage to be acquired is held-by-production, requiring only… Read More
#OilmanNEWS 2016 July-August 

Halliburton, Baker Hughes Abandon Merger

In a surprise move, oilfield services giants Halliburton and Baker Hughes on May 1 announced that plans for a merger had been terminated. The announcement follows a regulatory review that had threatened the $35 billion deal and resulted in a lawsuit filed by the Justice Department in April. “While both companies expected the proposed merger to result in compelling benefits… Read More
#OilmanNEWS 2016 May-June 

Budget Problems Abound in the Oilfield

While lawmakers in Oklahoma work to fill the $1.3 billion hole in the state’s budget for next year, Moody’s Investors Service released reports on several oil-producing states this week, and the news was not good for the Sooner State. The report shows declining revenues for state and local entities due to the slowdown in oil and natural gas production and… Read More
#OilmanNEWS 2016 May-June 

Halliburton – Baker Hughes Merger Derailed Again

On Wednesday, the proposed merger of the No. 2 and No. 3 oilfield services firms was derailed again by the U.S. Department of Justice (DOJ), which filed a civil antitrust lawsuit in the U.S. District Court for the District of Delaware. The deal has been complicated by regulatory reviews since 2014, and is “unfixable,” according to Assistant Attorney General Bill… Read More
#OilmanNEWS 2016 May-June 

USGS Report: 7 Million Americans at Risk of Experiencing Seismic Events

The U.S. Geological Survey (USGS) on Monday released a report on seismic activity to update the agency’s 50-year seismicity projections. This forecast is updated every six years and is used by public and private entities to establish building codes and insurance rates in affected areas. For the first time, USGS researchers forecasted the risk of man-made earthquakes, and according to… Read More
#OilmanNEWS 2016 May-June 

North Texas Exploration & Production Safety Network Resurrected

Officials from the Occupational Safety and Health Administration (OSHA) along with representatives from the North Texas Exploration & Production Safety Network (NTEPS) participated in a ceremony on March 18 in Arlington, Texas, marking the revival of the safety association. The NTEPS association is a volunteer organization based in North Texas that is an independent network of the National Service, Transmission,… Read More
#OilmanNEWS 2016 May-June 

The Methane Battleground

A new study has revealed that the recent increase in oil and natural gas production in the U.S. has not caused increased methane levels on a global level despite accusations that the industry is polluting the world’s air. The announcement of this scientific discovery follows a jury’s decision on March 11 finding Cabot Oil & Gas Corp. responsible for water… Read More
#OilmanNEWS 2016 May-June 

Candidates and Court Address Fracking

Less than 48 hours after opening briefs were filed in federal court by four Western states, oil and gas trade groups, and one tribe challenging the Obama administration’s new rules for hydraulic fracturing, Democratic presidential contenders Hillary Clinton and Sen. Bernie Sanders attacked the process in a debate. While Clinton stopped short of proposing an all-out ban, the restrictions she… Read More
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