August 20, 2018 archive

Houston’s Saxet Petroleum gets more funding to widen STACK and SCOOP operations in Oklahoma

Houston’s Saxet Petroleum, Inc., , a firm with core positions in Oklahoma’s STACK and SCORE plays received a $100 million equity commitment recently from Post Oak Energy Capital, LP. Post Oak made the announcement on Monday indicating that it achieved the commitment through investment partnerships it manages. The commitment is for Saxet III Minerals, LLC. …

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$289 million California judgment against Monsanto similar to claims made by Oklahomans

The recent $289 million judgment against chemical maker Monsanto, won by a former California school groundskeeper dying of cancer is similar to lawsuits filed against the company in Oklahoma. The California jury agreed with Dewayne “Lee” Johnson that his use of Monsanto’s weed killer Roundup contributed to his non-Hodgkin’s lymphoma. It awarded him $289 million …

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New possible rules for coal-fired power plants will impact Oklahoma operations

In a move that will affect coal-fired electric generating plants in Oklahoma and across the U.S., President Trump could unveil a plan on Tuesday to rewrite government rules to help operators of those plants. The plants were targeted by the Obama Administration using the Clean Power Plan which was attacked by then-Oklahoma Attorney General Scott …

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Chesapeake Energy names new board member

Chesapeake Energy Corporation on Monday announced the appointment of Mark A. Edmunds to the Board of Directors, effective August 17, 2018. Edmunds will serve as a member of the Audit Committee and the Compensation Committee and will stand for re-election at the 2019 annual meeting of shareholders. Chesapeake Chairman R. Brad Martin commented, “We are very pleased to welcome …

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Despite recent gains, nation’s crude oil stockpile is still less than a year ago

While the Energy Information Administration reported last week large gains to liquid petroleum stockpiles in the U.S., one energy analyzing firm in Houston says the levels are still weaker than last year’s level. Stratas Advisors, based in Houston indicated the crude stocks moved up by 6.81 million barrels while most analysts expected a decline of …

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Federal Judge resorts to bible in blasting environmental group in water ruling

In a water ruling against an environmental group challenging actions of the U.S. Army Corps of Engineers, a New Mexico federal judge resorted to quoting the bible. The ruling against the WildEarth Guardians, a group based in Santa Fe, U.S. District Judge Robert C. Brack began his ruling with the quote: And Elijah the Tishbite, …

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Appeals Court rules in 2007 railroad chemical leak in Kansas

Two railroad workers exposed to chemicals in a 2007 Burlington Northern Santa Fe train incident near Ottawa, Kansas have won their case with the U.S. 10th Circuit Court of Appeals in Denver. The Appeals court reversed a lower court ruling against Larry D. Lincoln and Brad C. Mosbrucker who were partially and permanently disabled after …

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Cushing terminal’s storage dropped 60% in 15 months

In nearly 15 months, the massive amount of oil stored at the Cushing hub has plummeted an estimated 60 percent, easing a bottleneck that in 2017 slowed the transportation of Midwest oil to terminals on the Gulf Coast. As Jack Money at the Oklahoman reported, expansion efforts have eased the storage problem at Cushing, going …

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State to expand use of cable barriers on highways

Drivers for utility companies, oil and gas firms and electric cooperatives might find something new in the state as they travel state highways—-more cable barriers instead of the concrete barriers. As the Journal Record reported recently, the Oklahoma Department of Transportation is in the process of possibly replacing guard rails with cable barriers on some …

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Well close to production at site of deadly fire and explosion

The Oklahoma Corporation Commission indicates the well that blew up last January killing 5 men near Quinton has been completed.  Spokesman Matt Skinner told the Tulsa World the well is one step from being put into production. The cause of the deadly explosion and fire remains under investigation and just last week, the U.S. Chemical …

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