Oklahoma oil companies to boost Oklahoma drilling

  • February 24, 2017

Adam Wilmoth, NewsOK.com – There was much agreement over the past two weeks as executives from Oklahoma City’s largest publicly traded oil companies reported 2016 earnings and discussed their plans for the future.

The biggest overarching theme was gratefulness that 2016 is over.

The companies have used the downturn over the past two and a half years to cut costs, focus on their best assets, improve techniques and processes, and reduce debt. The producers that survived the downturn generally are much stronger.

But it was a painful year.

By the fourth quarter, however, losses were narrowed and companies including Devon Energy Corp. and Continental Resources Inc. reported fourth-quarter profits.

Executives from Continental Resources, Chesapeake Energy Corp. and SandRidge Energy Inc. held conference calls with analysts on Thursday. Devon executives had their quarterly call last week.

Read more at Newsok.com.

Join the Discussion