Tulsa-based NGL Energy Partners LP reported its fourth quarter and full year fiscal 2020 results revealing fourth quarter losses of $223 million, including a non-cash goodwill impairment charge of $250 million and a $1 billion increase in company debt. The $250 impairment was in the company’s Water Solutions segment. For the full fiscal year, NGL …
June 2020 archive
More solar power being expanded in Taos
A northern New Mexico power company is planning extensive expansion of its solar operations. Taos-based Kit Carson Electric Cooperative’s largest solar array to date came online May 14, but the power company is developing two much larger facilities as it seeks to achieve 100 percent daytime solar energy by 2022 according to the Santa Fe …
Electricity use slumps during pandemic
American Electric Power, the parent company to Public Service of Oklahoma reports a drop in the electricity use by its customers in 11 states during the month of April. AEP confirmed weather-normalized retail load for April dropped 4.3% compared to April 2019 with a 6% increase in residential sales, most likely caused by stay-at-home orders …
Boil order issued for water system in Payne County
E. coli has been found in a water system in Payne County, resulting in a boil order issued by the Oklahoma Department of Environmental Quality. The Oklahoma Department of Environmental Quality (DEQ) has advised the MRT Properties water system, located in Payne County, to inform users of its drinking water to use water that has been brought to a …
Energy news in brief
** A new report reveals oil and gas drilling has reached its lowest level since 1949 because of oil price volatility and the coronavirus crisis. ** OPEC+ members are in talks to lengthen current crude oil output curbs instead of loosening the restrictions as envisioned in their April agreement, per reports in Bloomberg and Reuters. ** The closing of the $252 million bankruptcy sale …
Historic low rig count in Colorado
As OK Energy Today reported this week, the nation’s oil and gas rig counts continue dropping and that only six drilling rigs remained active in Colorado. The Colorado Sun reported it is an historic low for the state where the average for the month of May was only seven drilling platforms, the fewest in 28 …
Icahn gets more control over Occidental Petroleum
Carl Icahn, the man known as the “corporate raider,” won three seats on Occidental Petroleum’s board Friday, giving the billionaire activist investor greater control over the direction of the embattled Houston energy company. It came two years after Icahn made a similar move and wrestled control of the now-failing SandRidge Energy company, a firm that …
“Hard labor” part of Louisiana bill targeting trespassing oil/gas protesters
Oklahoma did it in 2017 and now other states are considering adopting the same law targeting protesters who trespass on energy sites, whether they be oil pipelines or other operations. Some are getting tougher. The latest is Louisiana where Gov. John Bel Edwards (D) is considering whether to sign a bill sent to him late last …
2019 shutdown of Houston Ship Channel leads to lawsuits
A group of energy companies have sued the Intercontinental Terminals Co. over what they called major financial damage resulting from last year’s closure of the Houston Ship Channel. Rio Energy International, Gunvor USA, and Texas Aromatics are seeking $3 million combined in their lawsuits against ITC from losses following the Deer Park chemical fire, which shut down the waterway for …
OU researchers arrested on federal charges of misspending Energy grant
Two University of Oklahoma researchers are accused of misspending a $2.1 million U.S. Department of Energy grant and face criminal federal charges. Shaorong Liu and Juan Lu, who are married to one another appeared in Oklahoma City Federal court on Friday and if convicted could fax a maximum of 20 years in prison. They were …
