May 16, 2019 archive

OKC homeowners head to trial over decades old saltwater contamination

A lawsuit filed by nearly three dozen homeowners who accused ConocoPhillips of decades old saltwater and chemical contamination in the West Edmond Oil Field is about to go to trial in Oklahoma City federal court. The original suit was filed in Oklahoma County district court then transferred to U.S. District court in 2017. It accused …

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OGE Chairman talks of strong future for the utility

OGE Energy Corp. Chairman, President and CEO Sean Trauschke today told the company’s shareholders that the company is “strong and built for the long term.” Speaking at the company’s annual meeting, Trauschke said he was pleased with the performance of both OG&E, Oklahoma’s largest investor-owned utility, and Enable Midstream, in which the company owns interest, as both had contributed to …

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Williams gas line rejected by New York governor

A week after Williams received FERC approval for its controversial Northeast Supply Project from New Jersey to New York, the gas pipeline project was blocked Wednesday night by the governor of New York. It comes at a time when New York City is converting thousands of homes and businesses from heating fuel to natural gas. …

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Two counties eligible for SMA help following April storms

 Governor Kevin Stitt has announced that two Oklahoma counties may now receive disaster assistance from the U.S. Small Business Administration (SBA) as a result of the severe weather that began April 30. The designation provides SBA low-interest disaster loans for homeowners and business owners in Bryan and Pittsburg counties to replace any property damaged by …

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ExxonMobil and XTO contribute millions to colleges and universities

  ExxonMobil and its XTO Energy subsidiary workers and others contributed more than $413,000 to 10 Oklahoma colleges and universities and in turn, the donations were matched by more than $1.1 million. The matches were in unrestricted grants from the ExxonMobil Foundation as part of the foundation’s 2018 Educational Matching Gift Program. The company contributed …

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NuStar to offer senior notes in money-raising move

NuSTar Logistics, L.P., the San Antonio based energy company with storage tanks and pipelines in Oklahoma announced the offering of senior notes. The company is following through after making a filing with the Securities and Exchange Commission. NuStar said the notes will be fully and unconditionally guaranteed by NuStar Energy as the parent guarantor and …

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Congress probes 4,400% profit on Air Force parts

Some of the parts likely used on those T-38 trainers at Oklahoma’s Vance Air Force base and the Sheppard Air Base in Wichita Falls, Texas likely involved extreme profit margins now under investigation by Congress. The House Oversight and Government Reform Committee has started looking into a Cleveland, Ohio-based company called TransDigm. It is accused …

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Anadarko issues dividend as it prepares to be acquired by Occidental Petroleum

  Days after accepting Occidental Petroleum’s $57 billion acquisition offer, the board of directors at Anadarko Petroleum Corporation announced a 30-cent-a-share dividend. The board said the dividend will be payable June 26, 2019 to those stockholders of record at the close of business on June 12, 2019. The dividends are determined on a quarterly basis. …

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Legislator defends OGE power plant purchase in his district

Poteau Rep. Lundy Kiger is accusing an energy company of “bullying” in opposing OGE’s recent $53 million dollar purchase of two power plants, a purchase approved this week by the Oklahoma Corporation Commission. At the same time, he has been accused of a conflict of interest. The Republican legislator responded after the Oklahoma Energy Results …

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Continental hits another big one in Blaine County

Continental Resources has brought in another big producer in Blaine County, one with more than 1,700 barrels of oil a day in production. The Tolbert Federal 5-32-29XHM sits right in the STACK play and in the same zone near Greenfield where Continental Resources has seen huge success. Located at 5 14N 11W, the well site …

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