Category: Oil & Gas

FERC Complaint Lodged Against CenterPoint Over Secret Hedge Fund Involvement

Houston-based CenterPoint Energy is the target of a recent Federal Power Act complaint filed by two consumer adversary groups with the Federal Energy Regulatory Commission. Public Citizen and Citizens Action Coalition of Indiana allege CenterPoint Energy failed to disclose its financial affiliation with New York-based hedge fund, Elliott Management Corp., led by billionaire Paul Elliott …

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NRG Energy Appoints Lisa Donohue to Expanded Board

Houston-based NRG Energy announced the appointment of Elisabeth (Lisa) Donohue as a new Independent Director to its Board of Directors effective October 5, 2020, according to a company press release issued Monday. “The Board is pleased to welcome Ms. Donohue as our newest Independent Director; Lisa’s distinguished consumer- and digital-focused career will bring valuable diversity of thought and expertise …

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Judge Acquits Arkema, CEO and Former Plant Manager From 2017 Chemical Fire Charges

A Texas judge acquitted the U.S. arm of French chemical maker Arkema SA and a top executive of criminal recklessness stemming from a 2017 blaze that injured 21 people, according to Reuters. The verdict, rendered Thursday, ends all charges against Arkema and its managers. The company’s Crosby, Texas, plant became waterlogged and lost power needed …

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Senior Management Changes at Basic Energy Services

Texas-based Basic Energy Services, Inc. announced the resignation of CFO David Schorlemer in order to pursue other interests. He will remain as the company’s Executive Vice President, Chief Financial Officer, Treasurer and Secretary until October 9, 2020.   “On behalf of the Board of Directors and the entire Company, I’d like to express our thanks to David …

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Black Bear Transmission Completes Divestiture of Ozark Gas Gathering Assets

Houston-based Black Bear Transmission LLC announced that it has completed the divestiture of all the assets owned by Ozark Gas Gathering, L.L.C. to an undisclosed buyer, according to a company press release issued on Wednesday. This divestiture follows two bolt-on acquisitions completed by Black Bear this year – the purchase of the Ozark Gas Transmission …

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KPMG’s Manny Fernandez Appointed to HollyFrontier Board of Directors

Dallas-based HollyFrontier Corporation announced that Manny Fernandez will join its Board of Directors effective October 1, 2020, according to a company press release. Prior to his appointment, Fernandez was employed by KPMG LLP for more than 15 years and served in a number of leadership positions until his retirement in September 2020. Most recently, Fernandez …

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OCC Discusses Oil & Gas Deputy Director Vacancy

The Oklahoma Corporation Commission meeting held on Wednesday was contentious as the commissioners discussed hiring a deputy director for the Oil and Gas Conservation Division. According to a report published by Janice Francis-Smith in The Journal Record, Vice-Chairman Bob Anthony offered recommendations to fill the vacancy but Chairman Todd Hiett and Commissioner Dana Murphy did …

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OU Doubles Engineering Enrollment, Creates Strategic Plan to Promote Energy Workforce

Engineers are in high demand in the workforce. The enrollment figures at the University of Oklahoma support this upward trend. The Journal Record reported that OU’s undergraduate enrollment at the Gallogly College of Engineering doubled in size from 1,768 in Fall 2007 to 3,630 in Fall 2018. The increase is attributed to OU’s outreach and marketing …

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Unit Corporation Extends Early Tender Date for Exchange Offer

Tulsa-based Unit Corporation announced that it has extended the early tender date for its previously announced offer to exchange its outstanding 6.625% Senior Subordinated Notes due 2021 (CUSIP No. 909218AB5 / ISIN US909218AB56) for newly issued 10.000% Senior Secured Notes due 2024 and 7.000% Junior Secured Notes due 2025, according to a company press release …

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EIA Data Predicts Continued Downturn in Oil and Gas Production

A federal agency tied to the U.S. Department of Energy and responsible for analyzing official energy statistics for the government is predicting 9il and natural gas production in South Texas will continue to decline, according to a report by the San Antonio Business Journal. The U.S. Energy Information Administration predicts an average 14,000 barrel-per-day decline …

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