April 3, 2019 archive

One dead—2 critically hurt in Texas chemical plant explosion

One worker was killed and two others were critically injured in a massive explosion at a chemical plant near Houston on Tuesday. The fire at the KMCO chemical processing plant in Crosby was ignited by a flammable gas called isobutylene.¬† Some employees working at the plant narrowly escaped danger. Contractors Brian Balcerowicz and Cesar Mendoza …

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Canadian County Commissioners consider legal action over well damages

  Canadian County Commissioners find themselves considering their next step after learning a recently-drilled oil and gas well reduced the value of county property. A lawsuit is a possibility. The matter came to light after three appraisers indicated the well drilled on 3 and three-quarters acres adjacent to the County Children’s Justice Center caused $55,000 …

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Inhofe repeats his charge—the Green New Deal is about socialism

Oklahoma U.S. Sen. Jim Inhofe and James Lankford think alike when it comes to the Democrats’ Green New Deal. Both contend it is really about ‘socialism’ and not so much about protecting the environment and fighting climate change.¬† Sen. Lankford made the claim last week in an interview with OK Energy Today. This week, Sen. …

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Enel Green expects to add 1GW of new power this year

Enel Green, the renewable energy company with large operations in Oklahoma and even bigger ones in Texas expects to bring online 1 gigawatt in new renewable energy projects in each of the next three years. It’s what company leaders said in a recent interview with North American Wind Power. Enel Green already launched construction this …

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Brent crude approaches $70 a barrel in trading

Oil prices rose for a fourth day on Wednesday, pushing Brent towards a nearly five-month high of$70 a barrel on OPEC-led supply cuts and U.S. sanctions, but a surprise increase in American inventories capped the gains. Brent futures moved up 31 cents, or 0.45 percent,to$69.68 by 1045 GMT. They earlier reached $69.96 – the highest …

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NGL Energy Partners announces $450 million in sale of senior notes

  Tulsa’s NGL Energy Partners LP announced Wednesday a $450 million offering in senior notes. The company and its wholly-owned subsidiary NGL Energy Finance Corp. offered to sell the senior notes that are due 2026. NGL plans to use the net proceeds to repay indebtedness under its revolving credit facility which NGL might reborrow from …

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Tulsa’s WPX Energy gains from $3.6 billion sale of Permian pipeline operator

The $3.6 billion sale of Permian Basin pipeline operator Oryx means $350 million in net proceeds for Tulsa-based WPX Energy. One of WPX’s subsidiaries was a joint venture partner in the Oryx II pipeline and signed agreements to sell the project in the acquisition by New York private equity firm Stonepeak Infrastructure Partners. The WPX …

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Permian basin pipeline operator sold for $3.6 billion

A $3.6 billion sale of an oil gathering and transportation system in the Permian Basin has been announced. Oryx Southern Delaware Holdings, LLC entered into an agreement to sell 100 percent of the equity interests in its subsidiaries¬† to New York private equity firm Stonepeak Infrastructure Partners. The sale was announced Tuesday with Stonepeak buying …

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Tulsa’s Unit Corp. seeks investors at symposium

  As it seeks new investors, Tulsa’s Unit Corporation management will take part in the upcoming Independent Petroleum Association of America’s 2019 Oil and Gas Investment Symposium. It will be held April 8 and 9 in New York City. Unit’s presentation will be broadcast live over the Internet on Tuesday April 9 at 10:35 a.m. …

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Judge halts Frack Master’s plea deal in fraud case

A federal judge in Texas stepped in this week and stopped the plea deal that U.S. prosecutors made with the man known as the “Frack Master.” Reports indicate it took only a few minutes for the judge to reject the plea agreement with Christoper A. Faulkner who was accused of taking more than $71 million …

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