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Tag Archives: oil drilling

3.5 magnitude earthquake rattles parts of northern Oklahoma

Oklahoma earthquake, wastewater disposal well

PERRY, Okla. (AP) — The U.S. Geological Survey says an earthquake has rattled parts of northern Oklahoma. Geologists say a 3.5 magnitude temblor was recorded at about 12:21 p.m. Tuesday in Garfield County, about 16 miles west of Perry. The USGS says the earthquake was recorded at a depth of three miles. No damage or injuries were immediately reported. Geologists ...

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In reversal, Obama administration to block Atlantic oil drilling

In reversal, Obama administration to block oil drilling in Atlantic

WASHINGTON (AP) — In a major reversal, the Obama administration said Tuesday it will bar oil drilling in the Atlantic Ocean, a move cheered by environmentalists and consistent with the president’s aggressive steps to deal with climate change. Interior Secretary Sally Jewell made the announcement on Twitter, declaring that the administration’s next five-year offshore drilling plan “protects the Atlantic for ...

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North Dakota governor orders cuts amid $1B budget shortfall

North Dakota governor orders cuts amid $1B budget shortfall

BISMARCK, N.D. — North Dakota Gov. Jack Dalrymple ordered deep cuts to government agencies and a massive raid on the oil-rich state’s savings on Monday to make up for a more than $1 billion budget shortfall due to a drop in oil drilling and depressed crude prices. The state had more than $2 billion in various reserve accounts just one ...

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US rig count down 18 this week to 619; Texas down 13

oil derrick

HOUSTON — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 18 this week to 619. The Houston firm said Friday 498 rigs sought oil and 121 explored for natural gas amid depressed energy prices. A year ago, 1,543 rigs were active. Among major oil- and gas-producing ...

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Bakken oil drilling declines, but jobs and pay remain firm

Getty Images via Newscred

Last year, when low oil prices cut North Dakota’s Bakken drilling in half, things in Montana really didn’t look much different. It turned out the Treasure State really didn’t have much wealth beneath it anyway, at least none that could be tapped as easily as the oil beneath North Dakota. The number of rigs in North Dakota slid from roughly ...

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Marathon Oil slashes dividend, capex to save cash

Oct 29 – U.S. oil producer Marathon Oil Corp on Thursday said it is slashing its quarterly dividend 76 percent and further reducing capital expenditures to preserve cash on hand as it tries to withstand a prolonged crude price slump. Crude prices have lingered below $50 a barrel for weeks, a level that renders some shale oil drilling unprofitable. To ...

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Area cities oppose Everglades drilling proposal

Picture of an alligator in the Everglades, Florida. Getty Images via Newscred.

Many cities in Broward County have passed resolutions opposing plans by a Miami-based company to conduct exploratory oil drilling in the Everglades. The company’s plans include digging up to two miles to explore the chances of extracting oil. Miramar, which is the city that will be the most affected if the drilling took place, acted first and exhorted the Florida ...

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King George sets public hearing on its proposed fracking ordinance

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The King George County Board of Supervisors will hold a public hearing on Tuesday about its proposed ordinance on hydraulic fracturing, or fracking. Board members started looking into the issue more than a year ago and held several informational meetings about the process, which injects water and chemicals deep into the ground to free trapped gas and oil. After the ...

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Lackluster venture may spur port to cut budget revenues by millions

Getty Images via Newscred

In an unusual move, the Port of Vancouver is expected to cut $15.29 million in revenue from its overall 2015 budget because it now anticipates a new freight-hauling venture will not live up to expectations. Under the “dedicated rail service” plan, the port anticipated $18.57 million in revenue from leasing rail cars to haul oil-drilling materials to North Dakota; those ...

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