December 2, 2021 archive

Energy Transfer and Enable Midstream Announce Merger Completion

Dallas-based Energy Transfer LP and Oklahoma City-based Enable Midstream Partners, LP announced the completion of their merger. The terms of agreement were approved earlier this year by Enable’s two largest unitholders, CenterPoint Energy, Inc. and OGE Energy Corp., which together owned approximately 79% of Enable’s outstanding common units. Effective with the opening of the market …

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Chesapeake Energy Corporation announces $1 billion common stock And warrant repurchase authorization

    Chesapeake Energy Corporation announced that its Board of Directors has authorized the repurchase of up to $1 billion in aggregate value of its common stock and/or warrants from time to time. The repurchase authorization permits Chesapeake to make repurchases on a discretionary basis as determined by management, subject to market conditions, applicable legal requirements, available …

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Nation’s rig activity is growing

  The latest U.S. rig report from Enverus Rig Analytics based in Austin, Texas, showed an increase of six in the past week to 670 as of Dec. 1. That’s an increase of 3% in the last month and 70% from a year ago. There were no significant changes in major plays in the last …

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Energy Transfer heads to North Dakota Supreme Court

  Dakota Access Pipeline developer Energy Transfer is headed to the North Dakota Supreme Court in a fight over thousands of documents about the company that handled security at the time of the construction of the controversial line. The Associated Press reports the case grew out of a lawsuit filed by Energy Transfer and its …

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Regulators correct impact of ONG rate hike

  The Oklahoma Corporation Commission sent out a correction Thursday to its original announcement about the ONG rate hike and how much it will affect residential customers. The Commission approved a settlement agreement which will initially result in an average increase of $1.27 in the average residential bill stated the correction version. However, the settlement includes a …

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Record $5.3 billion in revenue from oil and gas in New Mexico

  Those New Mexico leaders who want to shift away from oil and gas toward renewable energy sources have a good reason to reconsider—oil and gas just pumped a record $5.3 billion into the state’s governments over the past fiscal year. The Santa Fe New Mexican reports a new report by New Mexico Tax Research …

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Investigators stall approval of nuke storage site in New Mexico

Efforts to create another high-level nuclear waste storage site in southeast New Mexico were delayed this week as federal regulators weren’t satisfied with the answers they got from the company behind the project. The Carlsbad Current-Argus reported Holtec International was notified of the delay in approval for its plans to build the facility near the …

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ONE Gas to participate in December symposium

    Tulsa-based ONE Gas, Inc. will take part in the upcoming Wells Fargo Midstream, Utility & Renewables Symposium. The virtual participation  will be on Wednesday, Dec. 8, 2021. Robert S. McAnnally, president and chief executive officer, Caron Lawhorn, senior vice president and chief financial officer, and Curtis Dinan, senior vice president and chief operating …

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ConocoPhillips completes all-cash Permian asset acquisition

ConocoPhillips announced that it has completed its acquisition of Shell Enterprises LLC’s prolific Delaware basin position for $9.5 billion in cash. After customary closing adjustments, cash paid for the acquisition is approximately $8.6 billion, with an effective date of July 1, 2021. The assets include ~225,000 net acres and producing properties located entirely in Texas, …

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Centennial Resource Development announces closing of non-core asset divestiture

  Denver-based Centennial Resource Development, Inc.  announced it has closed the previously announced sale of non-core assets to affiliates of Henry Resources, LLC and Pickering Energy Partners, LP for a cash purchase price of $101 million, subject to customary closing adjustments. The properties sold include approximately 6,200 net leasehold acres and related assets located on …

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