January 4, 2019 archive

Oklahoma holds steady while national rig count drops amid lower oil prices

The continuation of falling oil prices no doubt affected the number of oil and gas drillers across the U.S. as reflected by the number of active rigs reported this week. While the U.S. slumped by 8 rigs to 1,075, the number in Oklahoma remained at 140.  Nationally, there were 8 fewer oil rigs, dropping to …

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Slowdown in energy growth found by Dallas Federal Reserve Bank

Some of the oil and gas states covered by the Dallas Federal Reserve Bank have seen a slow down in energy sector activity in the fourth quarter of 2018. The Dallas fed Energy Survey called it a significant slowdown in growth. The business activity index—the survey’s broadest measure of conditions facing Eleventh District energy firms—remained …

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Williams gets FERC approval for second large LNG pipeline serving the Texas coast

The final nod of approval from the US Federal Energy Regulatory Commission has come for Williams to start full service on its Gulf Connector Expansion Project to feed two LNG export terminals on the Texas coast. The two terminals are Cheniere Energy’s Corpus Christi operation on the coast and Freeport LNG. The Connector is the …

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OU meteorologist confirmed as President Trump’s science adviser

University of Oklahoma meteorologist Kelvin Droegemeier finally won approval this week from the U.S. Senate to be the top science adviser to President Donald Trump. His confirmation came on a voice vote in the Senate. He had been nominated Aug.1 to head the Office of Science and Technology Policy. Droegemeier will be President Trump’s first …

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Governor-elect Stitt names banker as his Commerce Secretary

Oklahoma Governor-elect Kevin Stitt has named Regent Bank chairman and CEO Sean Kouplen to be the Commerce Secretary in his new incoming administration. He also picked Enid Regional Development Alliance executive director Brent Kisling to be the executive director of the Commerce Department.  Kouplen will need confirmation from the Oklahoma Senate. “Sean Kouplen is a …

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4Q earnings report coming next month from Phillips 66

Phillips 66 plans to release its fourth-quarter 2018 earnings report next month. The Houston company said it will hold a conference call webcast at 11 a.m. Oklahoma time on Friday, Feb. 8 to discuss the results released earlier in the day.    

Tulsa’s Alliance Resources wraps up $176 million acquisition of oil and gas assets

Alliance Resource Partners, L.P., the big coal company based in Tulsa, Oklahoma announced it’s finalized its $176 million acquisition of partnership interests in AllDale Minerals LP and AllDale Minerals II LP. It’s part of Alliance’s move into the oil and gas industry and one that gives the company control of nearly 42,000 net royalty acres …

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Chesapeake Energy leadership pushes ahead with more personal acquisitions of company stock

Chesapeake Energy executives are gobbling up more of their company’s low-priced shares. Form 4 filings made this week with the Securities and Exchange Commission showed four officers purchased nearly $1.3 million in shares. The purchases followed earlier acquisitions totaling millions of dollars in shares by company executives. In the latest round of buyups, Chief Executive …

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