Phillips 66 Partners LP will offer shippers storage on its Gray Oak crude oil pipeline system in Texas because of an urgent need for tank space, the company said on Friday, as an oil glut in the United States worsens from a sharp falloff in fuel demand. Crude storage space has quickly filled since the coronavirus pandemic has …
April 6, 2020 archive
Wilks brothers buying up struggling independents
Stories are growing of major companies and owners snapping up struggling independents and smaller operators amidst the downturn from the oil price war and the effects of the coronavirus pandemic. One of the latest involves oil billionaire Dan Wilks who, according to Reuters acquired 10% of struggling shale fracking company ProPetro Holding Corp. This, …
Oil leader renews call for investigation of oil price war impacts
Writing in the Sunday edition of the Oklahoman, David Le Norman, chairman of the Petroleum Alliance of Oklahoma made a renewed call for a federal investigation of the national security implications of what has happened to the oil and gas industry. Here is his opinion as expressed in the newspaper: “Oil and natural gas have …
What one Oklahoma oilman remembers about Tom Coburn
The late U.S. Sen. Tom Coburn is remembered by thousands who had personal contact with him. One of them is Mike Cantrell, the immediate past president of the Oklahoma Energy Producers Alliance, who wrote about his memories of the Senator in the Sunday Oklahoman. “There are very few truly great men, but I consider former …
Laredo proposes reverse stock split for shareholders
Tulsa’s Laredo Petroleum is among the latest energy companies proposing a reverse stock split as an economic move to survive in the plummet of oil prices and the impact of the coronavirus. The company notified shareholders this past week of its proposal to be decided at the upcoming May 14 annual meeting scheduled for now, …
Michigan court rules in favor of fracking-ban petitioners
An appeals court ruling might very well mean Michigan could become the next state where voters will have a say whether to ban fracking. And they could vote on the issue as soon as November of this year. The Michigan state appeals court last week ruled in favor of fracking opponents and revived their effort to present …
Coalition urges more anti-fossil fuel programs in next stimulus package
While Democrats in Congress now push for a possible fourth coronavirus stimulus bill, a coalition of scientists including a University of Oklahoma weather researcher wants the effort to include more environmental efforts. It is also clear they are against the fossil fuel industry. Zeke Baker, identified as a Postdoctoral Research Associate at the University of …
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