Ponca City refinery to get upgrades in 2020 Phillips 66 capital spending budget

The Phillips 66 refinery located in Ponca City, Oklahoma will get an upgrade as part of the company’s new 2020 capital program announced over the weekend. Phillips 66 revealed at capital budget of $3.3 billion, net $0.5 billion expected cash capital contributions from joint venture partners. The adjusted capital budget includes $0.9 billion for Phillips …

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Energy news in brief

**  Rogers Oil Co. in Oklahoma City recently purchased a new office building, paying $1,043, 700 for the site at 9537 N. Kelley Avenue. The 5,894-square office building was sold by Boyington Eat LLC which had owned it since 2009. ** A new oil industry report says technology to capture carbon dioxide emissions needs more …

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Democrats complain about EPA’s Chief of Staff

The actions of Oklahoman Ryan Jackson, a former aide to U.S. Sen. Jim Inhofe and now Chief of Staff at the EPA prompted the chairmen of two House committees to complain to EPA Administrator Andrew Wheeler. In a letter to Wheeler, Democrats Eddie Bernice Johnson who chairs the House Committee on Science, Space and Technology …

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Chesapeake Energy gets a ‘delisting’ warning from NYSE

    Another sign of struggles for Oklahoma City’s Chesapeake Energy Corporation—it’s been warned of being delisted from trading on the New York Stock Exchange. The company confirmed Friday it received written notice on Dec. 10 from the NYSE of its noncompliance with the standard set forth in a rule of the NYSE Listed Company …

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Stillwater oilman to pay nearly $3 million to settle SEC complaint

The U.S. Securities Exchange Commission announced that Stillwater oilman John Special agreed to pay nearly $3 million to settle an insider trading civil complaint against him. His is the second case stemming from allegations of insider trading involving former Marathon Oil Corp. chairman Dennis Reilley of Oklahoma City. (see Dec. 4 OK Energy Today)The case …

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SandRidge Energy replaces President after 11 months

  Oklahoma City’s SandRidge Energy, Inc. apparently figured its 11-month leadership under Paul D. McKinney wasn’t working and replaced him on Friday with interim CEO John P. Suter. McKinney had been CEO only since January 2019 and his replacement came as SandRidge announced it had initiated a series of actions designed to “improve shareholder value.” …

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STACK yields 6,000 barrels of oil a day from 3 sister wells

Harold Hamm received quite a gift as he stepped down as Chief Executive Officer and moved up to Executive Chairman of Continental Resources Inc., the company he founded 52 years ago. The same week his firm made the announcement of a new CEO, the company filed completion reports on three STACK wells that had combined …

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Have drilling efforts stabilized across Oklahoma and the U-S? Rig counts are steady

Oil and gas rig counts in Oklahoma and the rest of the U.S. went unchanged over the past week, perhaps a sign that the decline in rig numbers has come to an end. Oklahoma’s count remained unchanged at 50 compared to the 140 working rigs reported last year at this time. Across the U.S., the …

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Bleak future for natural gas

The shaky and weak market for natural gas in this country leads many speculators and market observers to claim Chesapeake Energy in Oklahoma City won’t be alone in battling debt. “If low natural gas prices persist beyond 2020,” stated Moody’s in a recent report, “companies may need to reduce debt to maintain compliance with financial …

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Senators oppose pipeline safety bill without addressing methane leaks

New Mexico Democratic U.S. Sen. Tom Udall joined a handful of other Democrats in opposing a plan to reauthorize the nation’s pipeline safety regulators without addressing methane leaks. He and Senators Dianne Feinstein of California, Jeff Merkley of Oregon, Martin Heinrich also of New Mexico, Kirsten Gillibrand of New York and Cory Booker of New …

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