November 9, 2018 archive

Cooperatives get part of $1.6 billion in USDA loans

Three electric cooperatives serving Oklahoma customers are among 46 nationally getting part of $1.6 billion in loans approved by the U.S. Department of Agriculture. The largest is $133 million loaned to KAMO Electric Cooperative Inc. in Vinita. The money will be used to improve transmission lines serving customers in northeast Oklahoma and southwest Missouri. A …

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Anadarko unloads midstream assets in $4 billion sale

Houston’s Anadarko Petroleum is unloading nearly all of its midstream assets in the Permian Basin in Texas and New Mexico and the DJ basin Colorado. It’s selling them to its master limited partnership Western Gas Partners for $4.02 billion. The sale includes pipelines and Western Gas will  take over complete ownership of DBM Oil Services …

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Cheniere Energy reports a 3Q profit following a loss a year earlier

Cheniere Energy, Inc., a Texas-based company with major operations in Oklahoma reported $65million net income in third quarter 2018 following a reported loss a year earlier. The company said its per share value had a 26-cent profit. The company indicated total revenues for the quarter came to $1.8 billion, up from the $1.4 billion reported …

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Dividend okayed by Williams

Shareholders in Tulsa’s Williams Companies are getting a new dividend, courtesy of the board of directors. The board voted to support a regular dividend of 34 cents a share or $1.36 annualized. It will be payable on Dec. 31, 2018 to those who are holding shares at the close of business on Dec. 14, 2018. …

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New Cushing pipeline one of two to be built by Phillips 66

Phillips 66 and Bridger Pipeline LLC are looking for customers for their proposed Liberty Pipeline to carry crude oil from the Rockies and Bakken production areas south to Corpus Christi, Texas. And Phillips is planning a new line in Oklahoma. The two have also announced a joint open season for the line to carry up …

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Midstates says 3Q income grew but it’s taking a ‘pause’ in the 4Q

  Tulsa’s Midstates Petroleum Company, Inc. reported its third quarter 2018 net income totaled $11.5 million or 44 cents a share., much better than the $3.7 million and 14-cents a share earnings a year earlier. It also was an improvement over the second quarter of 2018 when the company reported a net loss of $1.5 …

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Governor takes some of the credit for Oklahoma’s low jobless rates

Oklahoma Gov. Mary Fallin is taking some of the credit for the fall of unemployment rates in every Oklahoma County in September, saying it’s a result of the pro-business policies enacted during her administration. She said it shows the policies are working. “Oklahoma’s overall economy is healthy,” the governor said at a Seminole Chamber of …

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Oklahoma’s jobless rates tumble and energy played its role

While some candidates were celebrating their election night victories, state leaders were excited over Oklahoma’s newest employment figures. The state’s energy industry can take some of the credit. Every one of the 77 counties in the state reported lower unemployment rates for September, according to the Oklahoma Employment Security Commission. And all 77 county rates …

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Newfield pushes ahead with STACK drilling following purchase by Encana

Even as Newfield Exploration based in Houston came under new ownership, Newfield hasn’t backed off its oil and gas exploration in Oklahoma’s STACK play. The latest reports for permits to drill issued by the Oklahoma Corporation Commission show Newfield was issued 8 of the 9 permits for drilling in Kingfisher county. It’s planning 8 wells …

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Permits to drill issued for Nov. 8, 2018

Permits to drill for Nov. 8, 2018. Atoka County DUSU #5-53A, November 08 2018 05 1N 15E SWNWSWSE API: 00520469 Lat: 34.581438921042626, Long: -95.75016978092107 WESTERN OIL AND GAS DEVELOPMENT CORP SH, DR, 2100 ft, STANLEY UP(1944) Atoka County DUSU #5-59A, November 08 2018 05 1N 15E SWSWSESW API: 00520468 Lat: 34.57962564953562, Long: -95.75457015419822 WESTERN OIL AND GAS …

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