October 2017 archive

Up, Up and Away! Crude Oil Futures Settle Higher on Tuesday

Oil continued to climb on Tuesday as settlements rose to yet another two-year high, according to Bloomberg MarketWatch. December Brent crude, which expired at the session’s settlement, added 47 cents, or 0.8%, to finish at $61.37 a barrel on ICE Futures Europe Exchange. The January contract tacked on 35 cents, or 0.6%, for a settlement of $60.94 …

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Devon Reports 3Q 2017 Earnings of $228 Million

Oklahoma City-based Devon Energy Corporation’s third quarter ended on a positive note, with $228 million in net earnings, or 43 cents a share, for the third quarter of 2017, according to a company press release issued on Tuesday. This figure is down sharply from $993 million, or $1.89 a share, in the third quarter of …

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Company Withdraws Power Plant Site in Nebraska

An Omaha-based power company has backed out of plans to build a 38-megawatt power plant in Nebraska. Bluestem Energy Solutions withdrew its permit application from the Nebraska Power Review Board and will build the $38.5 million plant elsewhere in the Southwest Power Pool’s 14-state territory. By building out of state, Bluestem Energy will be allowed …

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Growth of Crude Oil Exports Raises Questions About Capacity

With so much crude oil being shipped overseas from U.S. ports, it has some crude experts wondering if it could soon affect the price of U.S. oil. Brent crude in London went over the $60 mark this week while West Texas Intermediate oil hit $54.  All the while, crude exports hit a record 2 million …

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127 Gas Stations Cited for Price Gouging After Hurricane Harvey in Texas

More than 100 businesses in Texas have been hit with price gouging charges following Hurricane Harvey. The Texas Attorney General’s Consumer Protection Division notified 127 gas stations this week they were accused of price gouging. In some of the cases, the stations charged nearly $4 a gallon for unleaded gas. “At the outset of Harvey, …

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Noble Energy’s Quarterly Losses Smaller Than Expected

Houston’s Noble Energy did better than expected in its third quarter earnings. While the company reported a third quarter net loss of $136 million or 28 cents per share, it was smaller than expected.  A year ago, the company had a third quarter net loss of $144 million or 33 cents a share. Noble, the …

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ONE Gas Reports 3Q Growth That Results in Dividend

With a third quarter net income of $18.8 million, Tulsa-based ONE Gas Inc. declared a quarterly dividend of 42 cents a share. The net income compared to $12.7 million in the third quarter 2016. “Our solid third-quarter results were primarily supported by new rates from pipeline system integrity investments in Kansas and Texas and lower operating costs,” said Pierce H. …

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Governor Moves to Claim $21 million in VW Pollution Lawsuit

Oklahoma Gov. Mary Fallin moved this week for the state to lay claim to $21 million as part of its share of the federal government’s settlement of the lawsuit against Volkswagen for violating the Clean Air Act. Gov. Fallin signed an executive order declaring Oklahoma as a participant in the mitigation trust agreement. The settlement …

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Gas Leak Plagues Women’s Prison in OKC

Gas service at the Oklahoma City Community Corrections Center is expected to be off until Wednesday while crews continue searching for the leak. The staff used large hotplates to serve hot meals to the 250 female inmates at the center. Space heaters and carbon monoxide detectors in the inmates’ rooms were reported to be functioning …

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Another Company Moves To Ending Coal-Fired Operations

Public Service Co. of New Mexico is putting out a request for plans to provide power if and when its coal-fired power in the northwestern part of the state were to close after 2022. It has plans to close two units of its San Juan Generating Station, located between Farmington and Shiprock. The closure is …

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