February 2019 archive

Some are skeptical about Devon Energy’s plans to sell Canadian properties

Devon Energy’s announced intentions this week to sell some of its assets in Canada  prompted at least one major Canadian news source to suggest it could be a difficult sale for the company. The Financial Post reported “analysts think Canadian producers will be cautious about spending billions to buy the properties.” Read Geoffrey Morgan’s story. …

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$300 million solar commitment in West Texas

While some Oklahoma legislators and the Sierra Club are pushing for more solar energy growth in the state, an Austin, Texas firm is making a $300 million commitment to an energy project in West Texas. 7X Energy Inc. announced it has entered into a power purchase agreement for 250 MWac from phase one of its …

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Increased 4Q and 2018 earnings reported by Energy Transfer LP

  Energy Transfer LP, the Dallas company with pipeline operations all over Texas, Oklahoma and the Midwest reported $617 million in fourth quarter net income, an increase of $366 compared to the fourth quarter of 2017. It also had record adjusted EBITDA of $2.67 billion, an increase of 29 percent from a year earlier or …

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Higher oil production led to a “pivotal year” for WPX energy in Tulsa

Saying 2018 was a “pivotal year”, management at Tulsa’s WPX Energy reported increased oil volumes and fourth quarter 2018 net income. The company said unaudited fourth quarter 2018 net income was $353 million or 83 cents a share on a diluted basis. A year ago the company reported a net loss of $24 million. The …

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Border wall funding could affect military construction in Oklahoma

A report by Gaylord News at the University of Oklahoma suggests nearly $178 million in military construction in the state could be endangered if President Trump redirects defense spending for his national emergency declaration over the border with Mexico. The $178 million i for construction of maintenance and training facilities at Tinker Air Force and …

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Halliburton announces date for release of earnings report

Halliburton Company will host a conference call on Monday, April 22, 2019, to discuss its first quarter 2019 financial results. The call will begin at 8:00 AM Central Time (9:00 AM Eastern Time). The company will issue a press release regarding the first quarter 2019 earnings prior to the conference call. The press release will …

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Unit Corporation reports net income losses for 2018 and 4Q

Tulsa’s Unit Corporation reported an increase in oil and natural gas production in 2018 but it also lost net income in both the fourth quarter of 2018 and for all of 2018. Net loss attributable to Unit for the quarter was $77.8 million, or $1.49 loss per diluted share, compared to net income attributable to …

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OGE Energy Corp. reports increase in 2018 net income but a drop in earnings

As OGE Energy Corp. reported an increase in net income for 2018 and a drop in earnings, leadership was calling it one of the best years in the history of the company. Earnings per average diluted share last year was $2.12 compared with $3.10 per share in 2017. In 2018, OG&E, a regulated electric utility, reported …

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Democrats now want to explore EPA’s enforcement program under Trump administration

Democrats now in charge of the U.S. House Energy and Commerce committee aren’t letting up in their environmental claims and charges against the Trump Administration. The Committee leadership plans a Feb. 26 hearing on the Environmental Protection Agency’s enforcement program. The decision came after the EPA recently reported gains in some areas such as criminal …

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PSO grants $250,000 to Weatherford Air and Space Museum

Public Service Company of Oklahoma announced a $250,000 grant from the American Electric Power Foundation to help Weatherford’s Stafford Air & Space Museum reach its Legacy Campaign goal.  The money raised during the campaign will fund a planned 18,000 square foot expansion of the museum. Tiffini Jackson, PSO vice president for external affairs, announced the …

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