August 5, 2019 archive

Continental Resources sees 20% drop in profits in 2Q

Oklahoma City-based Continental Resources’ second quarter earnings came in short of estimates as the company reported net income of $236.6 million or 63 cents a diluted share. Quarterly adjusted profit was down 19.7% because of weaker crude and natural gas prices that offset an increase in the company’s overall production. U.S. light crude prices averaged …

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Gasoline prices trending downward in Oklahoma

  Like the national gasoline trend, prices at the pump in Oklahoma dropped a penny to two cents a gallon in the past week. The national average price, according to AAA Oklahoma is $2.71 while the average in Oklahoma is down to $2.42 per gallon. Tulsa county has the lowest average at $2.32 a gallon …

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Judge dismisses part of class-action lawsuit against OKC energy firm

An Oklahoma City U.S. District Court judge has dismissed part of a class-action lawsuit filed by employees of the Oklahoma City firm of SB Directional Services LLC. Judge Robin J. Cauthron ruled in a lawsuit brought by Clayton Foutch against the company that has experience in management, oil and gas and directional drilling. Foutch’s lawsuit, …

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Small town Texas mayor wants to store US nuclear waste

The mayor of a small town in the heart of the Permian Basin of West Texas wants to store some of the nation’s nuclear waste at a proposed site. Read the story at Finance and Commerce. Click here.

Scooters adding to greenhouse emissions

Those scooters you see ridden in downtown Oklahoma City and more and more metro areas might be harming the climate more than other forms of transportation according to one new study. E and E News reports that electric scooters may emit more greenhouse gas emissions than competing modes of transportation, resulting in a larger environmental …

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Comparing WPX’s new $100 headquarters tower

The Tulsa World featured a pictorial comparison of how WPX Energy’s $100 million, 11-story new headquarters tower compares with other high-rise buildings in Tulsa. WPX announced plans for the new tower in June. Click here to view the Tulsa World story.      

Mammoth Energy deals with federal investigation

Oklahoma City-based Mammoth Energy revealed more information about the federal investigation into the former President of the company’s subsidiary that handled contracts to restore electrical power electric power to Puerto Rico following the September 2017 category five Hurricane Maria. In a Form 10-Q filed with the U.S. Securities Exchange Commission, the company said the investigation …

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Dividend declared for shareholders in Baker Hughes

Shareholders in Baker Hughes, a GE company are getting a cash dividend of 18 cents a share. The company’s board of directors declared the dividend on Class A common stock that will be payable on Aug. 23, 2019 to holders of record on Aug. 13, 2019. The dividend will be funded by a distribution of …

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Commissioner complains to legislature about Universal Service Fund

Corporation Commissioner Bob Anthony has complained to legislative leaders about the rising Universal Service Fund costs that taxpayers are being forced to bear. In a recent letter to them, the Commissioner said complaints are increasing because of 400 and 500% increases in telephone surcharges. “In July 2019, the monthly OUSF fee charged on my personal phone …

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