July 2021 archive

Devon interested in Shell’s Permian Basin holdings?

  Reports indicate that Oklahoma City-based Devon Energy is among major energy firms possibly interested in the purchase of Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields. ConocoPhillips is also said to be interested in a sale that could bring as much as $10 billion in a sale reported Bloomberg.   Click here …

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Increased dividend declared by Continental Resources

    Continental Resources Inc. declared an increase in a quarterly dividend on Friday. The Oklahoma City company’s board of directors declared a 15-cent a share dividend on the firm’s outstanding common stock. It will be payable on August 20, 2021 to stockholders of record on August 10, 2021. “Continental’s dividend update is a $0.04 increase to …

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Crude oil prices maintain their climb upward—stocks moved down

  While crude oil prices made gains to close the week of trading on Friday, Oklahoma energy stocks went the opposition direction. West Texas Intermediate crude for September delivery rose 33 cents to finish at $73.95 a barrel. Global benchmark Brent crude for September delivery went up 28 cents and closed at $76.33 a barrel …

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Republicans on House Science Committee ask for COVID-19 origins probe

Led by Oklahoma Rep. Frank Lucas, the ranking member of the House Committee on Science, Space, and Technology, the remaining Republican members requested the Democratic leadership to begin an investigation into the origins of COVID-19. One of them was Oklahoma freshman Rep. Stephanie Bice. Their letter of request was made to Committee chairwoman Eddie Bernice …

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Rig numbers slipped in past week but were steady in Oklahoma

  Oklahoma’s rig activity was unchanged in the past week while the number of  rigs nationwide slipped according to the weekly count released on Friday by Baker Hughes Co. Oklahoma’s numbers were unchanged at 30 while nationally, the count fell by 3 to 488 oil and gas rigs. The number of active oil rigs last …

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Enable Midstream announces quarterly distributions

  Oklahoma City-based Enable Midstream Partners, LP  announced Friday  that the board of directors of its general partner declared today a quarterly cash distribution of $0.16525 per unit on all outstanding common units for the quarter ended June 30, 2021. The distribution is unchanged from the previous quarter. The quarterly cash distribution of $0.16525 per …

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Civeo reports another quarter of debt reduction

  Civeo Corporation, the energy housing provider reported second quarter revenues of $154.2 million and a net loss of $0.5 million but also managed to reduce its debt for the 8th consecutive quarter. It’s second quarter adjusted EBITDA was $32.2 million and the Canadian-based firm with operations in Oklahoma managed free cash flow of $13.7 …

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Baker Hughes company announces $2 billion share repurchase authorization

  Baker Hughes Company announced Friday that its Board of Directors has authorized Baker Hughes Holdings LLC  to repurchase up to $2 billion of its common units. The announcement said the firm will use the proceeds from the sale of its BHH LLC common units to repurchase its Class A shares. “Today’s announcement represents further …

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Energy news in brief

** Xcel Energy Inc. (reported 2021 second quarter GAAP and ongoing earnings of $311 million, or $0.58 per share, compared with $287 million, or $0.54 per share in the same period in 2020. ** The ALLETE, Inc.  board of directors has declared a quarterly dividend of 63 cents per share of common stock. On an annual basis, the …

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Losses increased in 2Q for Mammoth Energy

Mammoth Energy Services, Inc. reported a drop in its second quarter total revenue and an increase in its net loss from $15.2 million in the first quarter to nearly $35 million in the quarter just completed. The company reported total revenue was $47.4 million compared to more than $60 million in the same quarter last …

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