September 29, 2020 archive

NextEra Energy to Acquire GridLiance for $660 Million

Florida-based NextEra Energy Transmission, LLC, a subsidiary of NextEra Energy, Inc., will acquire Dallas-based GridLiance Holdco, LP and GridLiance GP, LLC for approximately $660 million, including the assumption of debt, according to joint press releases issued on Tuesday by both companies. “GridLiance partners with electric cooperatives and public power utilities to enhance transmission system reliability and …

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$10 Million Federal Grant Awarded to Kiamichi Railroad for Upgrades

Oklahoma’s Kiamichi Railroad was awarded a $10 million federal grant by the U.S. Department of Transportation to fund improvements. In a story published Tuesday by Randy Ellis of The Oklahoman, the award will pay half of the project cost with the rest funded by the railroad owner. The project includes replacement of approximately 23 miles …

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Max Midstream announces $1 billion new pipeline to Texas Gulf coast

  Max Midstream announced the acquisition of the Seahawk Pipeline and Terminal from Oaktree Capital at the Port of Calhoun to connect the Port directly to both Eagle Ford and Permian Basins to transport up to 20 million barrels a month to a revitalized terminal at the Port. Exports will begin with completion of the …

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State Commission to Receive Update on Nine Business Incentives

The Oklahoma Incentive Evaluation Commission has scheduled a special virtual meeting for Thursday, October 1, 2020 at 10:00 a.m. The IEC will receive an update on the Year Five 2020 incentives by Randall Bauer of PFM Group Consulting LLC. Bauer will discuss the following economic incentives and related recommendations: Five Year Ad Valorem Tax Exemption …

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Marathon Petroleum, Top U.S. Refiner, Begins Widespread Job Cuts

 Marathon Petroleum Corp , the largest U.S. oil refiner, began cutting jobs on Tuesday across the company, according to people familiar with the matter, as the COVID-19 pandemic sapped demand for motor fuels. U.S. refiners have posted large losses this year as fuel consumption tumbled amid lockdowns and work-from-home policies to combat the spread of …

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More energy firms saw their stocks drop than increase in Tuesday’s trading

 Oil prices dropped to a two week low in Tuesday’s trading and Oklahoma energy stocks followed suit in many instances. Alliance Resource Partners dropped more than 2% or 6 cents a share to settle at $2.79. Blueknight Energy Partners saw a more than 8% increase or 12 cents to reach $1.59. Chesapeake Energy dropped nearly …

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Oil falls as demand concerns send U.S. prices to lowest finish in 2 weeks

  Oil futures fell sharply on Tuesday, sending U.S. and global benchmark crude prices to their lowest finish in two weeks. West Texas Intermediate crude for November delivery fell $1.31, or 3.2%, to settle at $39.29 a barrel on the New York Mercantile Exchange, after gaining 0.9% on Monday. Front-month November Brent lost $1.40, or 3.3%, to …

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Completion reports for September 29, 2020

Completion reports issued on September 29, 2020. completions: none were processed today

Permits to drill for September 29, 2020

Permits to drill issued on September 29, 2020. Canadian County CAREL #1H-2524X, September 29 2020 36 11N 8W NWNWNWNW API: 01725205 Lat: 35.390999458330526, Long: -98.00707539515349 CIMAREX ENERGY CO MU, DR, 21912 ft, WOODFORD(11330) Canadian County CAREL #2H-2524X, September 29 2020 36 11N 8W NWNWNWNW API: 01725209 Lat: 35.39099945783674, Long: -98.00700829673414 CIMAREX ENERGY CO MU, DR, 21900 ft, …

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Pendley court ruling could unravel Trump’s public lands decisions

  A federal judge’s decision to boot a top Trump appointee could jeopardize years of actions the administration has taken on public lands, including an expansion of oil and gas drilling and the decision to uproot the Bureau of Land Management (BLM) headquarters. A Montana-based U.S. District Court judge on Friday ruled William Perry Pendley, …

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