See here for a complete list of exchanges and delays. "s": "OANDA:NATGASUSD", ", © 2020 World Oil, © 2020 Gulf Publishing Company LLC. U.S. crude futures prices have tumbled, with coronavirus-related lockdowns and travel restrictions souring demand as OPEC and other producers waged a price war, sending oil to $13 a barrel this month from $61 at the start of the year. }, On March 6, the day a supply pact by OPEC and allies collapsed, Continental agreed to buy oil and gas properties from Tulsa, Oklahoma-based Casillas. Paschen For the West Lake Corridor Rail Expansion in Indiana, CVR Energy Reports Third Quarter 2020 Results, Alliant Energy Announces Third Quarter 2020 Results and Increased Annual Common Stock Dividend Target for 2021, Plains All American Pipeline and Plains GP Holdings Report Third-Quarter 2020 Results, Texas energy regulators to vote on production curtailments in May 5 meeting, Oil Bounces Back With Output Cuts Looming, Storage Filling, Customers must pre-pay at Ontario Husky gas stations starting Thursday, Oil Gains on Signals U.S. The majority of CTAP’s business came from Continental, an Oklahoma-based, top-10 U.S. oil producer and the largest leaseholder in the Bakken region, according to documents filed in the lawsuit. The case is Casillas Petroleum Resource Partners v Continental Resources, Tulsa County Oklahoma district court, No. "symbols": [ Continental Resources Inc. is being sued by a closely held oil driller that accused the shale giant of walking away from a $200 million deal following an historic collapse in crude prices. Announces Third Quarter 2020 Financial and Operating Results, Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Reports Third Quarter 2020 Financial and Operating Results, Infrastructure and Energy Alternatives, Inc. Enters Into $550 Million Joint Venture With F.H. If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware. U.S. crude futures prices have tumbled, with coronavirus-related lockdowns and travel restrictions souring demand as OPEC and other producers waged a price war, sending oil to $13 a barrel this month from $61 at the start of the year. "gridLineColor": "#e9e9ea", “One day you’re idling along and the next day you have this windfall,” Janvrin said. We provide live feeds designed to help energy professionals, field personnel, business owners, and senior business leaders get the latest energy news and data, energy industry press releases and energy job and event listings. But Continental got cold feet and proposed to postpone the closing due to “changes in the oil and gas markets,” and then terminated the agreement on March 24 citing title and other problems, the lawsuit alleged. “One day we were going great guns, and the next day we were completely out of business,” Janvrin recalled Friday. On Monday, BP agreed to restructure a $5.6 billion sale of Alaska oil properties to Hilcorp Energy. The majority of CTAP’s business came from Continental, an Oklahoma-based, top-10 U.S. oil producer and the largest leaseholder in the Bakken region, according to documents filed in the lawsuit. "s": "INDEX:IUXX", Last week, he called for futures market regulators to investigate potential market manipulation after oil futures turned negative for the first time. On Monday, BP agreed to restructure a $5.6 billion sale of Alaska oil properties to Hilcorp Energy. "d": "WTI Crude" "s": "INDEX:NYA", { Casillas Petroleum Resource Partners sued Continental Resources Inc, alleging the Oklahoma shale producer last month backed out of a $200 million oil and gas deal as prices crashed. On March 19, it disclosed a 55% reduction in 2020 spending and three weeks later suspended its dividend and reduced output by 30% for April and May. His firm recently declared force majeure on certain sales contracts. Four hours after Janvrin’s comments were published in the newspaper, a CTAP official called to tell him that CTAP would no longer do business with J&J Trucking. Shale producers Alta Mesa Holdings and Devon Energy accepted lower prices for pending asset deals. Melaney’s advice led Janvrin to Kenneth Barker, a lawyer in Belle Fourche with experience in oil-industry cases. "scaleFontColor": "#DADDE0", The case is Casillas Petroleum Resource Partners II LLC vs. Continental Resources Inc. Docket: CJ-2020-1346. "title": "Indices", Casillas Petroleum Resource Partners and Continental signed a so-called purchase and sale agreement on March 6, according to the lawsuit, one trading session before crude tumbled about $10 a barrel for the worst daily crash in almost 20 years. "width": "100%", Casillas could not immediately be reached for comment on the suit, filed on April 15, which asks the court to order Continental to complete the purchase and pay Casillas attorneys’ fees and other costs. Janvrin had employed up to 29 people, many of them local ranchers who used the jobs to help pay bills on their ranches. It’s the latest example of an oil and gas deal running into snags amid the unprecedented plunge in crude prices. All material subject to strictly enforced copyright laws Please read our Terms & Conditions, Cookies Policy and Privacy Policy before using the site. Continental slammed the brakes on spending and oil production as prices nosedived. "d": "Light Crude Oil Futures" A Louisiana police pension fund filed a lawsuit last week to stop Continental Resources from acquiring another company owned by Continental CEO Harold Hamm and Jeff B. Hume, vice chairman }, "height": "700", Completing the CAPTCHA proves you are a human and gives you temporary access to the web property. { "largeChartUrl": "http://energynow.com/data/", Daily Energy Market Summary #148 – October 29th, 2020. Help us to improve EnergyNow, Give us your feedback, Oil Gains With Market Rally, OPEC+ Hint of Delay to Output Hike, Archrock Reports Third Quarter 2020 Results, Frank’s International N.V. TradingView.com On Sept. 19, Barker filed a notice that Continental had finally paid Janvrin. He quickly passed it up the Continental chain of command, where it reached someone who contacted CTAP. "s": "INDEX:DOWI", } Casillas Petroleum Resource Partners and Continental signed a so-called purchase and sale agreement on March 6, according to the lawsuit, one trading session before crude tumbled about $10 a barrel for the worst daily crash in almost 20 years. Continental Resources did not respond to a request for comment. { Before it's here, it's on the Bloomberg Terminal. Back on April 20th, when you were hopefully stoned out of your mind, Continental Resources quietly filed a lawsuit against one of their former attorneys – Blaine Dyer; a former landman for the company – Justin Biggs; and about 48 other people, LLCs, local musicians, etc., from Oklahoma and Texas alleging they all worked together to cheat the company out of $5 million via what one Ogle … Reuters first reported the lawsuit. Continental Resources sued over failed $200MM oil deal By Rachel Adams-Heard on 4/28/2020 HOUSTON (Bloomberg) --Continental Resources Inc. is … • ] A representative for Continental didn’t immediately respond to a request for comment. “Almost immediately after the execution” of the contract, Continental sought to delay the closing that was set for the end of March, Casillas said in the suit filed in Tulsa County District Court in Oklahoma. { Continental Resources still paying in $60 million royalty lawsuit settlement May 1, 2019 Oklahoma City’s Continental Resources Inc. revealed in a SEC filing this week it is paying tens of millions of dollars to settle a class-action that alleged underpayment of royalties in Blaine County, Oklahoma. }, Reuters first reported the lawsuit. }. "d": "Brent Crude" { Performance & security by Cloudflare, Please complete the security check to access. Founder Harold Hamm, an early supporter of U.S. President Donald Trump, has urged Washington to impose tariffs on foreign oil imports and pushed for federal support of the oil industry. Janvrin sued Continental Resources in 2014 for cutting him out of the trucking business in the Bakken oilfield of North Dakota. } { “You don’t make plans for anything like that until it happens.”, Maps of counties in the STACK play showing townships and ranges. "s": "INDEX:DXY", }, Your IP: 187.86.152.162 Barker filed a lawsuit on Janvrin’s behalf in July 2014, and the case was tried Jan. 10-12, 2017, at the federal courthouse in Rapid City.
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