December 2018 archive

Four burned in attempt to steal natural gas in OKC

Four people were badly burned Christmas Day while allegedly trying to steal natural gas. Firefighters responded after screams of the burning victims were heard in a residential neighborhood near SW 27th street around 10 a.m. on Tuesday. Fire Battalion Chief Randy Cornelius said the four had used a garden hose to transport natural gas from …

Continue reading »

Kansas City Southern to release 4Q financial results

Kansas City Southern, the railway that passes through eastern Oklahoma while servicing other southern states plans to release its fourth quarter 2018 financial results on Friday, Jan. 18, 2019. The results will be released before the opening of trading on the New York Stock Exchange. The firm will hold its fourth quarter conference call at …

Continue reading »

Amtrak to get new locomotives under $744 million contract with Siemens

Amtrak’s just announced a $744 million contract for new diesel-electric locomotives to be manufactured by Siemens Mobility. Siemens, the international company headquartered in Munich, Germany will build 75 locomotives to replace and supplement Amtrak’s aging national network diesel locomotive fleet which includes the Heartland Flyer in Oklahoma. Delivery of the new locomotives will begin in …

Continue reading »

Crude oil prices rebounded Wednesday but slump raises questions

From a historical perspective, those U.S. crude oil futures that dropped below $43 a barrel this week did so for the first time since June of 2017. But on Wednesday, prices rebounded. WTI up 4.19 to close at $46.72 – change 9.85% Brent up 4.58 to close at $55.05 – change 9.07% Natural gas up 0.05 to close at 3.51 – change 1.30% Still, …

Continue reading »

Enbridge finishes $3.5 billion in housekeeping changes

Canada’s Enbridge Inc. has wrapped up $3.5 billion in deals to consolidate its Houston, Texas based master limited partnership operations. As the Houston Business Journal reported, Enbridge concluded the acquisition of all shares of Enbridge Energy Partners LP and all of the outstanding public units of Enbridge Energy Management LLC. The deals were valued at …

Continue reading »

Falling prices force Earthstone Energy to back out of Sabalo Energy purchase

A drop in commodity prices is blamed for Earthstone Energy backing out of its acquisition of Sabalo Energy LLC based in Corpus Christi, Texas. The purchase was announced in October but Earthstone Energy, Inc. executives in Houston said that due to the recent significant decline in commodity prices and the re lated adverse effect on …

Continue reading »

Chesapeake Energy execs push ahead with buyup of company stock

Even as we reported how the stock buyups by executives at Oklahoma City’s Chesapeake Energy were growing, more purchases were made this week by leaders of the company. Chairman Emeritus Archie Dunham made still another acquisition as reported by Chesapeake in a filing made Dec. 26 with the Securities and Exchange Commission. His latest purchase …

Continue reading »

Appeals court upholds $6 million judgment in support of OKC oil company

The Denver Federal Appeals court has ruled against two defendants who appealed after losing a lawsuit filed by Husky Ventures, Inc., an Oklahoma City oil and gas company. The unsuccessful appeal had been filed by B55 Investments,  LTD and its president Christopher McArthur. A jury awarded Husky $4 million compensatory damages against B55 and McArthur …

Continue reading »

Wind power records keep falling

The Southwest Power Pool, of which Oklahoma is a member, set another wind generation record in the past week.  Wind-generated electricity totaled 16.38 gigawatts for the customers in the 546,000 square miles served by the pool. It was on Thursday and came at 7:40  in the morning as the electricity provided by wind farms throughout …

Continue reading »

Trade secret ruling goes against Colorado driller

A Colorado company that successfully sued over an employee’s newly-designed sealed bearing pack for mud motors used in oil and gas drilling has lost an attempt to reopen a second lawsuit. The U.S. 10th Circuit Court of Appeals ruled against Hawg Tools, LLC in a legal fight with Newsco International Energy Services, Inc., Newsco International …

Continue reading »