October 27, 2020 archive

Management shakeup at Unit Corporation—CEO Merrill leaves the company

  A big change in management at Tulsa-based Unit Corporation was announced Tuesday, including the departure of David Merrill has President and Chief Executive Officer. He not only stepped down as the company’s leader but resigned as well from the Board of Directors. The board of directors (Board) has named current Chairman, Philip Smith, to the …

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Williams Announces Quarterly Cash Dividend

  Tulsa-based Williams’  board of directors has approved a regular dividend of $0.40 per share, or $1.60 annualized, on the company’s common stock, payable on Dec. 28, 2020, to holders of record at the close of business on Dec. 11, 2020. The dividend is consistent with the third-quarter 2020 dividend and is a 5.3% increase …

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Valero to pay $2.85 million fine for violating pollution standards

Valero Energy Corp. agreed to pay a $2.85 million fine and to improve its emissions controls and fuel quality management to settle alleged violations of the Clean Air Act that the Environmental Protection Agency identified in an audit. The EPA said the San Antonio independent refiner produced millions of gallons of gasoline between 2012 and …

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Energy news in brief

** Southeast Texas player Yuma Energy is not doing reorganization, it’s liquidating. The Delaware corporation — which according to documents consulted by The Texas Energy Report, lists a Houston address — has had its voluntary Chapter 11 petition for relief under US bankruptcy laws converted to a Chapter 7 liquidation in Bankruptcy Court for the Northern District …

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Mid-Con Energy merging with Contango Oil and Gas

  The oil and gas industry’s latest merger, that of Tulsa’s Mid-Con Energy Partners and Fort Worth-based Contango Oil and Gas should be completed by early next year according to officials involved in the all-stock deal valued at about $400 million. The combined company will be headquartered in Fort Worth, TX but will continue to …

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Wheeler calls on DOJ to investigate Greens

  EPA Administrator Andrew Wheeler has asked the Justice Department to investigate several environmental groups over concerns they were receiving secret funding from foreign governments, such as China and Russia. POLITICO reported that Wheeler on Monday asked the Justice Department to investigate several environmental groups, including the Sierra Club and the Sunrise Movement, over concerns they …

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Boil order lifted in SE Oklahoma

  The boil order for the Sardis Lake Water Authority in southeast Oklahoma has been lifted by the Oklahoma Department of Environmental Quality. The DEQ, in an announcement this week said the water is now safe for human consumption. This order was issued due to high turbidity and an inadequate water treatment process. State and …

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Barrett on the bench—set to hear energy cases

  After being confirmed to the Supreme Court by the U.S. Senate Monday night on a 52-48 vote, Justice Amy Coney Barrett will leap right into cases involving the environment and energy, not to mention the more controversial Affordable Care Act, better known as Obamacare. She received the support of Oklahoma U.S. Sens. Jim Inhofe …

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Oklahoma voters to decide a Corporation Commission race

  Oklahoma voters will decide next week whether Corporation Commission chairman Todd Hiett should stay in office or be unseated by Libertarian Todd Hagopian. As the political news website NONDOC described the race, it was one of the “Battle of the Todds.” Click here to view the NonDoc story.  

National Oilwell Varco reports third quarter 2020 loss of $55 million

National Oilwell Varco, Inc. reported third quarter 2020 revenues of $1.38 billion, a decrease of seven percent compared to the second quarter of 2020 and a decrease of 35 percent compared to the third quarter of 2019. Net loss for the Houston-based company in the third quarter of 2020 improved $38 million sequentially to $55 …

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