October 19, 2017 archive

Oil Settles Lower on Thursday as Analysts Predict A Year-End Peak for Oil, Shale

  After four consecutive sessions of gains that lifted prices to their highest levels since late September, crude oil futures dipped on Thursday, according to Bloomberg MarketWatch. November West Texas Intermediate crude¬†lost 75 cents, or 1.4%, to settle at $51.29 a barrel on the New York Mercantile Exchange. December Brent crude, the global benchmark,¬†fell 92 …

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McClendon Firm Could Be For Sale

The Wall Street Journal is reporting that an oil and gas company founded by the late Aubrey McClendon in Oklahoma could see a major development—-either a sale or an initial public offering. The speculation centers on Ascent Resources LLC and the paper indicated the company anticipates aIn stock-market valuation of more than $3.5 billion. Sources …

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Corn Staters Lobby to Protect Ethanol

While a two-day ethanol summit is underway in Houston featuring industry and government officials from more than 15 countries, the issue was at the focus of political posturing in Washington DC this week too. Right in the middle of it was former Oklahoma Attorney General Scott Pruitt who now heads the Environmental Protection Agency. Here’s …

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Moody’s Report Says Oklahoma is Least Prepared to Handle Another Recession

Revenue from the gross production tax on oil and gas has definitely propped up Oklahoma’s state government but a new report from Moody’s Analytics indicates Oklahoma is one of three states ‘least’ prepared for another recession. The report indicated 15 state government don’t have enough money saved to make up for the revenue that would …

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Couple Settles First Earthquake Lawsuit in Prague

The Prague couple that filed the first lawsuit blaming energy companies and their wastewater injection wells for causing earthquakes recently reached a settlement with two of the firms. Sandra Ladra sued New Dominion LLC of Tulsa and Spess Oil Company of Cleveland after she was hurt and her home badly damaged in the 2011 quake …

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Blueknight Energy Declares Quarterly Cash Distribution

A quarterly cash distribution of $0.1450 per common unit was announced this week by Oklahoma City-based Blueknight Energy Partners. The board of directors declared the distribution which was unchanged from the Partnership’s second quarter 2017 distribution. Payments will be made Nov. 14 on outstanding common and preferred units to unitholders of record as of the …

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Phillips 66 Announced 3rd Quarter Cash Distribution

The board of directors of Houston-based Phillips 66 Partners LP announced this week it had declared a third-quarter 2017 cash distribution of $0.646 per common unit. The distribution represents a 5 percent increase over the previous quarterly distribution of $0.15 per unit. It is also a 22 percent increase over the third-quarter 2016. The company …

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Texan Indicted on Charges of Lying About Blowout Preventer Tests

A Texas man has been indicted on charges of lying about tests on a blowout preventer at an offshore oil and gas platform five years ago. Kenneth Johns, 45 of Rosharon, Texas was indicted recently on one count of conspiracy to obstruct justice and two counts of making false statements, according to a report by …

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