May trial date set for Chinese National accused of stealing trade secrets from Phillips 66

The 35 year old Chinese national arrested in January and accused of stealing trade secrets from Phillips 66 where he worked in Bartlesville was supposed to go to trial this coming week. But a new date of May 20 has been set in the case against Hongjin Tan, according to records on file at the …

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Scott Pruitt becomes lobbyist in Indiana

After months of being quiet since he resigned amidst scandals at the Environmental Protection Agency, former administrator Scott Pruitt has surfaced. The former Oklahoma Attorney General has become a registered lobbyist for a coal company in Indiana. Pruitt lists himself as a self-employed consultant and his only client is RailPoint Solutions LLC. Read the full …

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Kinder Morgan wants 3rd natural gas pipeline in Permian Basin

Talks are underway at Kinder Morgan as the company wants to build a third natural gas pipeline serving the Permian Basin. Chief Executive Officer Steven Kean told investors this week demand continues to surge for gas takeaway capacity and natural gas production has outgrown the pipeline capacity. “Demand to get gas out of the Permian …

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Holly Frontier announced increased quarterly distribution

Holly Energy Partners, L.P. announced its 58th consecutive quarterly distribution increase. The board of directors declared a cash distribution of 67 cents per unit for the first quarter of 2019.  It’s two cents more than the distribution declared for the first quarter of 2018. Holly Energy, a firm with a refinery in Tulsa as well …

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Chesapeake declares dividends and sets date for 1Q financial results to be released

  Oklahoma City’s Chesapeake Energy has declared a quarterly dividend and also announced it will release its financial results on May 8. The dividends are on the company’s outstanding convertible preferred stock issues as shown below: 4.50% 5% 5.75% 5.75% (Series A) NYSE Symbol CHK Pr D N/A N/A N/A Date of Original Issue September 14, …

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New Petroleum Storage bill signed into law in Oklahoma

One of the bills signed into law this past week by Gov. Kevin Stitt pertains to the Oklahoma Corporation Commission. House Bill 2151 by Rep. John Pfeiffer (R-Orlando) and Sen. Dave Rader (R-Tulsa) makes changes to the Corporation Commission’s underground storage programs. It creates the Oklahoma Petroleum Storage Tank Regulatory Act and also provides for …

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Drilling rig numbers slip below last year’s count

The nation’s oil and gas rig count has fallen below the mark a year ago according to figures released by Baker Hughes Co. of Houston. More rigs are in storage nationally and in Oklahoma. The U.S. rig count fell by 10 this past week to 1,012 or one less than last year when the rig …

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ONEOK declares increased dividend

Tulsa’s ONEOK, Inc. has declared a quarterly dividend of nearly 87 cents a share. The action by the Board of Directors resulted in an increase of 0.5 cents or 9 percent more compared to the dividend announced in April 2018. On an annual basis, it means a dividend of $3.46 per share. The dividend will …

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Chaparral Energy to release 1Q results May 9

  Oklahoma City-based Chaparral Energy, Inc. plans to release its first quarter 2019 financial results on May 9. The release will be made before the open of the U.S. financial markets on that Thursday. A conference call will be held at 9 a.m. the same day where management will discuss the details. In addition, a …

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Students plan May 3 climate change strike

Students in Oklahoma are expected to join a nationwide climate change strike on Friday May 3. Organizers say it’s in protest of the government failure to take action to stop climate change. The Oklahoma  effort is led by a group called Youth Climate Strike Oklahoma and it intends to hold a rally in front of …

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