August 2020 archive

Bureaucratic rules reduction upsets environmentalists

  As expected, environmental groups are critical of the Trump administration for seeking to ease more rules for oil and gas drilling that were adopted under the Obama administration. The Associated Press reports the latest changes could save energy companies more than $130 million over the next ten years. The U.S. Bureau of Land Management …

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Michigan firm becomes majority owner of Texas wind farm

  Michigan-based Consumers Energy’s parent company has become a majority owner of Aviator Wind, a 525-megawatt wind energy farm in central Texas. The project will create electrical power for Facebook and McDonald’s. CMS Energy purchased 51% ownership in Aviator Wind, a 525-megawatt wind energy farm in central Texas, according to a Thursday, July 30 news …

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Internet connection available for low income students thanks to education grant

  Thanks to the CARES Act, low income students in 175 school districts in Oklahoma will be eligible for internet access. The Oklahoma Department of Education says the districts will receive mobile internet access and devices through 50,000 Verizon Unlimited 4G data plans and Jetpacks. Click here to read story at The McCarville Report.  

Arkansas farms create solar projects to power their operations

  Two major farming operations in northeast Arkansas have developed the first agricultural energy project combined two different solar technologies as a means of transforming how they get power but also saving on energy costs. Southland Gin and Delta Farms, working with Craighead Electric Cooperative and Today’s Power, Inc. came up with the project that …

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Environmentalists critical of New Mexico regulators

  New Mexico’s oil and gas industry regulators were heavily criticized by environmental groups during a recent virtual public hearing on wastewater from petroleum extraction. Environmentalists argued against the reuse of wastewater for irrigating crops in the state reported Reuters. But their arguments were met with criticism from the state’s oil and gas groups. The state …

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7-Eleven Corp. buys Marathon gas stations in $21 billion deal

  The number of 7-Eleven stores in the U.S. just increased by nearly 4,000 as Seven & I Holdings Co., the world’s largest convenience-store franchiser agreed to buy Marathon Petroleum Corp.’s Speedway gas stations in a $21 billion deal. The transaction, to be paid in cash and partly financed using debt, will add about 3,900 …

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Chapter 11 bankruptcy filed by offshore driller Noble Corporation

  Not to be confused with Noble Energy, the firm just acquired by Chevron in a $5 billion deal, offshore drilling contractor Noble Corp. has filed for bankruptcy after citing $3.4 billion in debt. The Chapter 11 filing in Texas would eliminate all of the company’s bond borrowings by swapping debt for equity, the company …

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Investors review Magellan Midstream’s earnings

  While Tulsa’s Magellan Midstream reported what one advisor called “abysmal” earnings in the second quarter 2020, the pipeline company is still getting recommendations for investment. Motley Fool reviewed the second quarter results of the company after it reported a 24% drop in earnings. Click here to view the recommendations and highlights of the company’s …

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Marathon Petroleum won’t restart refineries in New Mexico and California

  New Mexico’s oil and gas industry is taking a major blow as Marathon Petroleum Corp., the largest U.S. independent oil refiner says it will not restart its refinery in Gallup. The company said it will also not restart a California refinery amid concerns that demand for fuels is not likely to return to levels …

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  The first words from mission control to the astronauts were a humorous welcome home: “Thank you for flying SpaceX.” The astronauts had a cheerful message for their flight doctors waiting to check them out as well: “Let them know we’re feeling good.” The Crew Dragon capsule splashed down into the Gulf of Mexico, finishing …

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