Category: Oil & Gas

Arkansas Sends $1.8 Million Settlement Proposal to Exxon Mobil for 2013 Pipeline Spill Damage

Arkansas state and federal officials are seeking more than $1.8 million from Exxon Mobil to compensate for damage and wildlife restoration efforts caused by a 2013 oil spill, according to a report published on Thursday by the Arkansas Democrat-Gazette. The Arkansas Game and Fish Commission mailed the settlement proposal to Exxon on Tuesday. The proposal …

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Russian Meddling in Oklahoma Energy Industry?

As national intelligence officials pointed the finger at Russian meddling in the 2016 Presidential election, an Oklahoma congressman participated in a House committee charged with determining whether similar efforts were pursued to influence the U.S. domestic energy policy. A recent report by the News 9 investigation staff reveals Congressman Frank Lucas’ involvement in meetings designed …

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Rig Count: National Count Jumps by 13, Oklahoma Gains 2 New Rigs

The number of U.S. oil and gas rigs jumped by 13 this week, while Oklahoma’s rig count climbed by two, Baker Hughes reported Friday. The country’s rig count increased to 1,057, up from 949 one year ago. Rigs drilling for oil increased by ten to 869, while the number of rigs drilling for natural gas …

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Governor Places SQ 800 on November 6 Ballot

  Governor Mary Fallin recently signed an executive proclamation to place the Oklahoma Vision Fund on the November 6 general election ballot. State Question 800, if approved by a majority of voters, would amend the state constitution by allowing the state to annually deposit five percent of the gross production tax collections. No more than …

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SemGroup Reports Net Loss of $2.7 Million for 2Q 2018

Tulsa-based SemGroup Corporation reported a net loss of $2.7 million for the second quarter of 2018, compared to net loss of $33 million in the first quarter of 2018 and net income of $9.6 million in the second quarter of 2017. The improvement in quarter over quarter earnings is primarily due to lower income tax and …

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Unit Corporation Posts $5.8 in Net Income for Second Quarter of 2018

Tulsa-based Unit Corporation posted a net income of $5.8 million for the second quarter of 2018, according to a company press release issued on Wednesday. The results reported below include those attributable to Unit’s consolidated subsidiaries. Second quarter highlights include: Net income attributable to Unit of $5.8 million; adjusted net income attributable to Unit of …

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Panhandle Oil and Gas Posts $775 Thousand Loss for 2Q 2018

Oklahoma City-based Panhandle Oil and Gas reported a loss of more than $775 thousand for the second quarter of 2018. It translated to a loss of five cents a share, according to a company press release. Panhandle declared a loss of nearly $2.129 million on its derivative contracts for three months ending in June of …

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Shareholders Approve Merger of Williams Companies, Inc. and Williams Partners L.P.

Following a special meeting of shareholders on Thursday, the Williams Companies, Inc. and Williams Partners L.P. announced that Williams shareholders approved the merger transaction between the two companies. More than 99 percent of the Williams voting shares approved the merger and related amendment. The Williams shares voted represented approximately 82 percent of Williams’ total outstanding …

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Mammoth’s Acquisitions Are Leading to Increased Growth and Revenue

Oklahoma City-based Mammoth Energy Services, Inc. posted $42.7 million in net income for the second quarter of 2018. Total revenue was approximately $533 million for the three months ended June 30, 2018, according to a company press release. The company also announced plans to pay its first quarterly cash dividend of $0.125 per share of …

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Frac Map Technology Is Latest Diagnostic Tool Used In Energy Sector

Technological advances are being used more often as gamechangers in many industries today and the energy sector is no different. A Houston-based company is featuring a new platform that uses parallel processing with algorithms to determine fracture geometry for large, complex pad operations in multiple zones. Reveal Energy Services recently announced it is enhancing IMAGE …

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