News

‘I’m just living a nightmare’: Oil industry braces for devastation

New York Times Workers at Marathon Petroleum’s refinery in Gallup, New Mexico, are turning off the valves. Oil companies in West Texas are paying early termination fees to contract employees ... Read More ...

President of local oil, gas producer optimistic in price turnaround sooner than expected

KWCH12 Kansas A day after oil markets crashed with the need for production down, the economy at a standstill and companies with nowhere to store their unused oil, Eyewitness News ... Read More ...

National Marginal Oil & Gas Producer Group Elects New Leader

OKLAHOMA CITY, Oklahoma, April 20, 2020 – The National Stripper Well Association (NSWA) recently elected Dick Schremmer of Haysville, Kansas to serve as its 2020-2021 chairman during their 2020 April ... Read More ...

World Oil analysis: Texas Railroad commissioners face difficult decision on prorationing

Kurt Abraham | World Oil The special open meeting on potential prorationing, held by the Railroad Commission of Texas (RRC) on Tuesday, was an event for the ages—a truly historic ... Read More ...

What To Do After Your PPP Loan Is Approved

Kansas Independent Oil & Gas Association hosted a webinar about everything you need to know about the Paycheck Protection Program. They covered topics such as: When do I take my ... Read More ...

OPEC+ Agree to Cut Production

Aindriu Colgan | NSWA Vice President, Governmental Affairs OPEC+ Agree to Cut Production Last Thursday, a marathon video conference between OPEC and other major energy producers ended with the group ... Read More ...

Interest Deductibility CARES Act

The cap was raised from allowing 30% of interest payments to be deducted in the year in which occurred to 50%. The effective date for this change means it applies ... Read More ...

Net Operating Loss (NOL) Provisions CARES Act

The CARES Act implemented numerous changes regarding Net Operating Losses. It allows for a 5 year carry back. The effective date for this change means the change applies to the ... Read More ...

CARES Act Money Bookmarked for Oil & Gas

17 GOP senators are urging The Honorable Steven Mnuchin, Secretary of the Treasury, to ensure some of the $500 billion in Treasury loans from the CARES Act goes to oil ... Read More ...

Washington Works to Solve Historically Low Oil Prices

Aindriu Colgan | NSWA Vice President, Governmental Affairs President Trump Meets with Oil Executives President Trump met Friday with the head of the American Petroleum Institute (API), Continental Resources founder ... Read More ...

Emergency Paid Leave Programs

On April 1, the U.S. Department of Labor (DOL) announced new action regarding how “American workers and employers will benefit from the protections and relief” offered by the Emergency Paid ... Read More ...

Chaos and scrambling in the US oil patch as prices plummet

Cathy Bussewtiz | AP News NEW YORK (AP) — In Montana, a father and son running a small oil business are cutting their salaries in half. In New Mexico, an ... Read More ...