April 10, 2019 archive

Mineral Rights bill slips through Senate committee

The bill to give mineral rights owner the ability to sue municipalities for restricting oil and gas use survived a vote this week in the Oklahoma Senate Judiciary Committee. By a vote of 7 to 5, House Bill 1250 co-authored by Sen. Mark  Allen, R-Spiro and Rep. John Pfeiffer,  R-Orlando won approval after the enacting …

Continue reading »

Higher oil and gas tax collections reported in Oklahoma

Gross production tax collections on oil and gas were up again in March as Oklahoma’s general revenue fund collections increased as well. The Office of Enterprise Management Services released figures this week showing gross production collections were $74.1 million for March or $26.7 million above the estimate. The collections were also 136.4 percent or $42.8 …

Continue reading »

NORDAM flies out of bankruptcy

Aerospace manufacturer NORDAM announced it has emerged from bankruptcy after nearly crash-landing and filing Chapter 11 reorganization nearly 9 months ago. The Tulsa-based company stated that all creditors will get full payment. The emergence came after NORDAM.’s reorganization plan was approved by the U.S. Bankruptcy Court for the District of Delaware. NORDAM’s approval also came …

Continue reading »

Electric car maker Fisker looking at 11 states for new manufacturing site

Electric-car maker Fisker is looking for a place to build a new manufacturing plant and eleven states are under review. Oklahoma is not one of the states. But the list includes California, Georgia, Indiana, Kentucky, Michigan, Missouri, North Carolina, Ohio, Tennessee, Texas and Virginia. Fisker is based in Los Angeles and is in the process …

Continue reading »

Investment group reports sale of 7 million shares in NGL Energy Partners

A New York based investment group reported the recent disposal of more than 7 million shares in Tulsa’s NGL Energy Partners LP. HIghstar NGL Prism/IV-A Interco LLC made a filing with the Securities and Exchange Commission showing its sale of 7,468,874 shares in NGL at a price of $9.918 per share. Oaktree Capital Group Holdings …

Continue reading »

Net Neutrality bill declared ‘dead on arrival’ in US Senate

You can forget any efforts in the U.S. Senate this year to restore the 2015 net neutrality rules adopted when President Obama led the country. This week, U.S. Senate Republican leader Mitch McConnell said the Democratic effort was “dead on arrival in the Senate.” His comments came as the House debated the plan to reinstate …

Continue reading »

NGL Energy Partners boosts company’s liquidity with financial moves

  Management at Tulsa’s NGL Energy Partners LP say recent financial transactions have addressed the company’s debt and at the same time increased liquidity. Trey Karlovich, the Partnership’s Chief Financial Officer issued a statement this week. “We have made tremendous progress on improving our leverage, and we will continue to focus on our balance sheet …

Continue reading »

WPX to release 1Q earnings report in May

Tulsa’s WPX Energy will release its first-quarter 2019 financial and operations results on May 2 of this year. Management will hold a webcast at 9 a.m. CDT on that Thursday. Chief Executive Officer Rick Muncrief, Chief Operating Officer Clay Gaspar and Chief Financial Officer Kevin Vann will discuss the the company’s performance. Investors are encouraged …

Continue reading »

ONEOK sets date to release earnings report

  The first-quarter 2019 earnings by ONEOK, Inc. will be released after the market closes on April 30, 2019. The company’s executive management will also take part in a conference call the next day on May 1 at 10 a.m. Central Daylight Time. It will be carried live on ONEOK’s website, www.oneok.com. ONEOK’s 4th quarter …

Continue reading »

Space Authority to meet next month

The  Wednesday meeting of the Oklahoma Space Industry Development Authority was cancelled. It was to be a regularly scheduled meeting of the board. The next meeting will be held in Burns Flat on May 8.