Marathon Oil on Thursday announced plans to spend $2.3 billion on its capital budget in 2018 with 90% of that money to be spent in four U.S. shale plays where production is expected to jump 20% to 25%, Kallanish Energy reports.
When oil producers in Oklahoma were ordered by regulators to severely cut back the volume of waste water injected into the earth to lessen man-made earthquakes, the number of tremors fell to fewer than two a day, from more than five.
Oklahoma in the early 2000s, looking to diversify its oil- and gas-dominated economy, sought to diversify, and offered the wind industry generous state tax incentives and access to inexpensive tracts of land.
SandRidge Energy, which survived the ouster of its founder in 2013, and three years later, Chapter 11 bankruptcy, could not withstand the onslaught of one Carl Icahn, announcing Thursday president and CEO James Bennett, and chief financial officer Julian Bott are leaving the company.
Oklahoma City, Okla.-based SandRidge announced Thursday it was heading in a “new strategic direction,” which does not include the independent producer’s president/CEO and chief financial officer. (See accompanying story.)
Cardinal Midstream III, with $250 million in financial backing from investor EnCap Flatrock Midstream, on Wednesday announced it’s developing the Iron Horse, a natural gas gathering/processing system to serve producers working in Oklahoma’s SCOOP/STACK/Merge play.
Valiant Midstream, backed by a $150 million commitment from private equity firm Tailwater Capital, on Wednesday said it’s begun construction on a $200 million natural gas gathering system and gas processing plant in the Arkoma Stack play in southeast Oklahoma.