** The Trump administration says the oil industry is in a “transition to greatness,” but a new report indicates demand for oil could be flattened through the next decade because of the coronavirus pandemic. ** President Trump is now two seats short of a Republican majority on the Ninth U.S. Circuit Court of Appeals, a reliably pro-environment appellate court that has …
May 13, 2020 archive
Strict rules announced for annual meeting of National Oilwell Varco
National Oilwell Varco is getting tough about its upcoming annual meeting and how the COVID-19 pandemic affects it. The company says everyone attending will answer questions about their travel and have their temperature taken and if they refuse, they won’t be allowed inside the meeting room. In a proxy statement filing with the Securities …
$1 billion in notes offered by Williams Cos.
Tulsa’s Williams announced Wednesday that it has priced a public offering of $1 billion of its 3.50% Senior Notes due 2030 at a price of 99.495 percent of par. The expected settlement date for the offering is May 14, 2020, subject to customary closing conditions. Williams intends to use the net proceeds of the offering …
Ascent Resources improves earnings
Oklahoma City’s Ascent Resources Utica Holdings, LLC reported first quarter 2020 net income of $85 million and adjusted net income of $36 million, a turnaround from the net loss of $85 million and adjusted net income of $79 million a year earlier. Ascent is the seventh largest producer of natural gas in the United States …
Energy and pandemic impact on Oklahoma tax collections
State officials admit they were off the mark in estimating the impact of the COVID-19 pandemic and oil crisis on Oklahoma’s General Revenue Fund collections for April. Way off the mark. The $529.1 million in collections was 44% below the monthly estimate or $416.2 million less than predicted. It was also nearly 42% or …
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