FYI: Business
BY Staff and Wire reports
Saturday, October 06, 2012
10/06/12 at 3:00 AM
Oklahoma rig count dips by one to 190
The number of drilling rigs actively exploring for oil or natural gas in Oklahoma fell by one this week to 190, Baker Hughes Inc. reported Friday.
The tally is down 12 from a year ago, when it stood at 202.
Nationwide, the number of active drilling units dropped by 11 this week to 1,837, according to Houston-based Baker Hughes' website. A year ago the U.S. rig count was 2,012.
Of the rigs operating this week across the country, 1,398, or 76 percent of the total, were drilling for oil, while 437 were exploring for gas. Two were listed as miscellaneous. A year ago, 53 percent of rigs were exploring for oil.
Accounting conferences set for Nov. 15, 16
Accountants can gain insights about the oil and gas industry and publicly traded companies by attending two Tulsa conferences sponosored by Oklahoma State University's Spears School of Business next month.
The eighth annual Oil and Gas Accounting Conference will be Nov. 15, and the 12th annual Accounting and Financial Reporting Conference is set for Nov. 16. Both are at the Hyatt Regency downtown.
Oklahoma Energy Secretary Michael Ming and Jonathan Duersch, associate chief accountant for the U.S. Securities and Exchange Commission, will be featured speakers at the first conference. The American Petroleum Institute's Stephen Comstock also will talk.
Mike Starr, former deputy chief accountant for policy and market monitoring at the SEC, will be a presenter at the second conference. ONEOK Inc.'s Clifton Gray also will give a talk titled "Myth of Multitasking."
Registration costs $165 for attending only the Oil and Gas Accounting Conference, and $295 for the Accounting and Financial Reporting Conference. The oil and gas portion is $145 if attending both conferences.
Call 405-744-5208, email cepd@okstate.edu or visit tulsaworld.com/osuaccounting for more information about registration and deadlines.
ConocoPhillips exiting two Peruvian areas
ConocoPhillips is pulling out of two exploration areas in the Peruvian Amazon jungle as it divests assets to focus on new European and U.S. ventures.
In a statement Friday, ConocoPhillips said it will transfer its 45 percent stake in Blocks 123 and 129 to Calgary, Alberta-based Gran Tierra Energy Inc. The transfer won't involve a financial transaction, Davy Kong, a spokesman for Houston-based ConocoPhillips, told Bloomberg News.
"It was a difficult decision to leave these blocks," Larry Archibald, vice president for exploration, said in the statement. "We reached this decision as part of the company's broader strategic effort to re-evaluate our investments and asset portfolio."
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