Seeking to protect itself from any takeover attempt, Chesapeake Energy on Thursday moved to adopt a poison pill…a shareholder rights plan which will protect the Oklahoma City company from those investors who might decide to seek control. Chesapeake Energy declared a purchasing dividend for its shareholders on April 23, in essence a shareholder rights plan. …
Maybe it was the result of a tweet by President Trump threatening to shoot down any Iranian boats harassing US ships in the Strait of Hormuz. Whatever it was, it caused oil prices to recover by another 22% for another day as West Texas Intermediate crude rose more than $3 a barrel to finish Thursday’s …
The Petroleum Alliance of Oklahoma announced today that after an extensive nationwide search, Brook A. Simmons formerly with Newfield Exploration has been chosen as its next president, effective May 1, 2020. “After a collaborative and exhaustive search, we are pleased to have found a new leader for the Alliance whose background and experience so …
Military drone-maker Kratos Defense and Security Solutions, the San Diego-based company with a manufacturing plant in Oklahoma City continues to get more and more defense contracts. The latest is one for more than $19 million to build 21 jet-powered target drones to be made in Oklahoma City. The company’s Unmanned Systems Division obtained the sole-source …
Methane emissions from the Permian basin of West Texas and southeastern New Mexico, one of the largest oil-producing regions in the world, are more than two times higher than federal estimates, a new study suggests. The findings, published Wednesday in the journal Science Advances, reaffirm the results of a recently released assessment and further call …
The nation’s electric co-ops, and that includes those across Oklahoma which often must maintain miles of powerlines to support small numbers of customers, say they have been slammed by the decline in electricity consumption due to the drop in economic activity during the Covid-19 pandemic. A study released Wednesday by the National Rural Electric Cooperative …
** U.S. crude oil production is down 100,000 barrels per day from last week, to 12.2 million bpd, according to data from the Energy Information Administration. The agency also calculated crude production is down 800,000 bpd from the end of March. ** Almost three dozen oil tankers carrying 20 million barrels of oil are gathered off California’s coast, with …
It no doubt comes as no surprise that manufacturing in Oklahoma and other states that make up the Tenth District of the Federal Reserve Bank of Kansas City dropped in the past month. But what is a surprise is that the April Manufacturing Survey found results at their lowest level in 26 years. ““If the …
One northern Colorado County knows it will take an especially hard hit from the pandemic and the oil crisis. It is Weld County, the heart of the D-J Basin where Oklahoma companies like SandRidge Energy have produced some lucrative wells. But the COVID-19 pandemic has slapped the county hard, as BizWest discovered in a series …
Normally Acela Truck Company, based in Belgrade, Montana manufactures high-mobile fire and rescue trucks—brush pumpers and the like used to fight wildfires. But the company has now been asked to do something entirely different on the manufacturing spectrum—make portable morgue trailers for the federal government as it deals with the deaths from COVID-19. The …
