Noble Energy reverses Colorado well shut-ins after big second-quarter losses

  Colorado’s second largest oil producer, Noble Energy has reopened the producing wells it shut-in during April and May. The Houston-based company indicated in its second quarter financial earnings report that 80% of its well shut-downs occurred in Colorado’s D-J Basin. During the quarter, the D-J Basin production was 144 MBoe/d and the company operated …

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Valero Energy reports 2Q profit

  San Antonio’s Valero Energy Corp. reported a second quarter profit as the company said its reported net income to stockholders was $1.3 billion or $3.07 a share. The amount compared to net income of $612 million or $1.47 a share in the second quarter of 2019. However, the reported adjusted net loss attributable to …

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Bloomberg—hire jobless oil and gas workers to target climate change

  Former Democratic presidential hopeful and New York City Mayor Michael Bloomberg says the U.S. should attack the climate change crisis by hiring thousands of laid-off oil and gas workers. Here’s how he presented his plan this week in a Bloomberg Opinion: — As Congress debates how to address the economic calamity we are facing, …

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Hertz must offload almost 200,000 cars by the end of 2020 as part of its bankruptcy deal

  Hertz, the car rental company that closed its operations in Oklahoma earlier in the year before filing for bankruptcy has a problem—how to get rid of 182,521 cars. But it might present some “good” deals for car buyers. The Associated Press reported that Hertz must somehow unload the cars because it was part of …

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More jobs expected as result of KC-46 tanker expansion at Tinker AFB

  The arrival of the KC-46 Pegasus air refueling tanker in the Air Force means more jobs and construction at Tinker Air Force Base in Oklahoma City. As Inside OKC reported, the work on the Oklahoma City Air Logistics Complex is resulting on a positive impact on the state’s economy. The massive program, which began …

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Acquisition target Noble Energy reports 2Q loss

  Noble Energy, Inc., the company set to be acquired by Chevron later this year, is out with its second quarter earnings report showing a $408 million or 85 cent a diluted share loss. Excluding items impacting comparability, the Company generated adjusted net loss and adjusted net loss per share attributable to Noble Energy for the quarter of $114 …

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Sale results in water-well drilling plant closure in Enid

  More than 90 workers are set to lose their jobs with the pending closure and sale of the GEFCO, Inc. manufacturing plant in Enid. In a WARN notice to the Oklahoma Office of Workforce Development as well to Enid Mayor George Pankonin, the company said the closure will occur because GEFO plans to sell …

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AG says US Supreme Court could release violent prison inmates in Oklahoma

Oklahoma Attorney General Mike Hunter isn’t finished with the recent U.S. Supreme Court decision that resulted in a flood of inmates challenging their state convictions on historic tribal lands and confusion in the energy industry. In response to the challenges, some associated with the Muscogee (Creek) Nation, Hunter announced Monday he will file a brief with …

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Oil prices end higher after upbeat readings on manufacturing activity

  Crude oil prices ended higher on Monday with West Texas Intermediate crude for September delivery adding 74 cents or 1.8%. WTI settled at $41.01 a barrel in trading on the New York Mercantile Exchange as analysts credited the increase on upbeat readings on manufacturing activities. Some also see a limited field of improvement for …

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Williams reports increased adjusted earnings in 2Q

  Williams Cos. in Tulsa reported a second quarter net income of $303 million or 25 cents per diluted share while its adusted EBITDA for the quarter totaled $1.24 billion and $2.502 billion for the year to date—an increase for the year. The company reported that excluding its non-cash deferred revenue step down, the second …

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