November 6, 2019 archive

Energy news in brief

** In Austin, Texas joint venture partners WhiteWater Midstream  alongside Agua Blanca lead investor First Infrastructure Capital announced final investment decision to proceed with the expansion of the Delaware Basin Agua Blanca System. The expansion includes a 42” diameter trunkline that more than doubles system capacity to over 3 billion cubic feet per day of natural …

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Power Pool approves future projects

Forty-four new projects including 166 miles of transmission line have been approved as part of the Southwest Power Pool’s Integrated Transmission Plan for 2019. More than 120 stakeholders met recently in Little Rock, Arkansas for the annual meeting of members. The upgrades, intended to ensure reliable deliver of lower-cost generation is expected to reduce the …

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Putting the spin on trespassing laws

The kind perspective that many major news groups give to coverage of President Trump isn’t the only example of the “spin” put on stories.  Environmentalists in news agencies have their own slant on energy stories and sometimes their bias is easily displayed. Take for example the trespassing laws like those enacted by the Oklahoma legislature …

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Denver’s Whiting Petroleum reports losses in 3Q

After a profit of more than $121 million in the third quarter of 2018, Denver-based Whiting Petroleum reported a loss of $19.1 million in the third quarter of 2019. On a per share basis, the loss was 21 cents according to the earnings report released this week.  The adjusted net income lost more than $35 …

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Net income in 3Q dropped for Plains All American Pipeline

Plains All-American Pipeline reported its third quarter 2019 earnings were ahead of expectations even as net income for the quarter dropped 37 percent from a year ago. Net income attributable to the Houston, Texas company was $449 million for the quarter, down from the $710 million reported in the third quarter of 2018. Net income …

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Net cash grows for Enable Midstream but net income slips

Enable Midstream Partners, LP reported a drop in its third quarter 2019 net income while at the same time it saw record oil production in some of its operations. The Oklahoma City company had net income of $132 million attributable to limited partners which was $6 million less than in the third quarter of 2018. …

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Earnings soared for AES Corporation

Virginia-based AES Corporation, the firm that sold its power operation in eastern Oklahoma earlier this year reported a large jump in earnings per share for the 2019 third quarter. The company had revenue of $2.63 billion and its third-quarter profit totaled $210 million. The results were better than what Wall Street analysts predicted. Earnings per …

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Wind farm operations for ALLETE show loss in 3Q

ALLETE, Inc. the Minnesota-based energy company that owns a wind farm operation in southern Oklahoma, reported third quarter 2019 earnings of 60 cents a share on net income of $31.2 million. The results compared to 59 cents a share a year ago on net income of $30.7 million. However, wind farm operations showed a loss …

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Pentagon might have solution to toxic chemical pollution at military bases

While most military bases in the U.S. are reporting contaminated ground water, usually from fire-fighting foam, the Pentagon has a plan to address the cancer-linked chemicals. A group of civilian researchers is exploring a high-tech solution according to a report in Military Times. The Enhanced Contact Plasma Reactor made its debut in September at Wright-Patterson Air …

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No slowing down of Houston firm’s exploration in the STACK

  The three-well single pad we reported earlier this week to be completed in Oklahoma’s STACK by Houston’s Oklahoma Energy Acquisitions LP was actually four wells at the same site. The company initially filed three completion reports showing production of more than 700 barrels of oil a day at 13 17N 5W in Kingfisher County …

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