February 19, 2019 archive

Devon Energy unveils plans to dispose of more assets in 2019

While Oklahoma City’s Devon Energy reported Tuesday it had $1.1 billion in fourth quarter 2018 earnings, it plans to dispose of extensive assets in Canada and the Barnett Shale of North Texas. In an announcement, the company said it hopes to complete the separation of the assets by the end of 2019. The Board of …

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Halliburton’s 100 years of existence and success

Before his death, Erle Palmer Halliburton, the man who founded Halliburton spoke of the days when he struggled to survive in the oil and gas business. “There was no such thing as the good old days,” he said. “They were filled with back-breaking labor that aged people before their time. Thank God that American inventiveness …

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J.B. Hunt trucking expands with acquisition

The Lowell, Arkansas-based trucking firm J.B. Hunt Transport Services, Inc. has just grown larger with the firm’s acquisition of a home delivery trucking service. J.B. Hunt whose trucks run up and down I-40 and I-35 in Oklahoma finalized its acquisition of Cory 1st Choice Home Delivery. “Cory’s customer-first mentality and focus on the consumer experience …

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City of Durant in running for national TV show’s makeover for small businesses

City leaders in Durant are hoping to win a national TV show’s $500,000 makeover program. The city of Durant was named one of six finalists to be considered for an online small business makeover program according to the Oklahoma Department of Commerce. Now, the public has less than a week to vote for Durant to …

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Roan Resources announces development plan for 2019 but expects flat production in the first quarter

Oklahoma City-based Roan Resources, Inc. announced fourth quarter 2018 highlights and revealed an early view of its 2019 development plan. While management is optimistic, it also expects flat oil production in the first few months of the year. The announcement follows Roan’s corporate reorganization made in October 2018 and uplisting to the New York Stock …

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More federal funding of Amtrak leaves Oklahomans hopeful of extended rail service

Some Oklahomans are optimistic the federal funding bill signed into law last week by President Trump will lead to extended Amtrak passenger service in Oklahoma. The bill includes $50 million to protect rail service in Kansas. Amtrak runs from Kansas City to Newton, Dodge City and Garden City before heading into New Mexico and eventually …

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Legislator launches attack against what he calls “King Oil”

King Oil. It’s what Chickasha Rep. David Perryman critically called the industry as he attacked it in a letter this week.   The Democratic legislator launched his criticism especially against House Bill 2150, a mineral rights owner bill. “Unfortunately, campaign contributions from oil companies will once again influence more votes than will what is right or …

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Increased revenue for 4Q and all of 2018 is reported by OKC’s Enable Midstream Partners

  Oklahoma City’s Enable Midstream Partners, LP announced financial and operating results for fourth quarter and full-year 2018 showing all-time high for natural gas and crude oil gathered and processed, resulting in increased quarter and yearly income. Net income attributable to limited partners was $174 million for fourth quarter 2018, an increase of $66 million …

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Holly Energy reports lower quarterly earnings but higher year-to-year revenue

Holly Energy Partners, L.P. revealed lower earnings this week, showing financial results for the fourth quarter of 2018 totaled $47.5 million in net income or 45-cents per basic and diluted limited partner unit. The income for the Dallas, Texas based company that operates refineries in Tulsa and other cities across the U.S. compared to $86.1 …

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Aeronautics Commission announces aviation art contest winners

The Oklahoma Aeronautics Commission announced the names of twelve students that placed in the Oklahoma 2019 International Aviation Art Contest. The state-level Aviation Art Contest, sponsored by the Aeronautics Commission, encourages youth, ages 6 to 17, to reflect on aviation by designing a piece of art based on the year’s chosen theme. This year’s contest …

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