Category: Oil & Gas

Midwest City Receives ACOG Grant of Nearly $50,000 for New CNG Waste Collection Truck

The city of Midwest City continues to roll out its fleet of alternative fuels with the recent deployment of a new refuse truck powered by compressed natural gas (CNG). The municipality received a grant from the Association of Central Oklahoma Governments (ACOG) to offset the expense associated with supplying the tanks and CNG system for …

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Trump Selects James Danly for Vacant FERC Panel Post

The Trump administration nominated Federal Energy Regulatory Commission General Counsel James Danly to fill the open seat vacated by the death of Kevin McIntyre. Danly was appointed as the Commission’s general counsel in 2017 after serving as an associate attorney in the energy regulation and litigation division of Skadden Arps. He served as a law …

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Contango Readjusts to Make Big Moves

Like a phoenix rising from the ashes, Houston-based Contango Oil and Gas appears to be quickly transforming to a viable energy company. Following the 2013 death of founder Kenneth Peak, the latest energy bust incarnation, financial difficulties and the prospect of new ownership, it seemed that Contango was on the ropes. Enter Fort Worth real …

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SCOTUS May Tackle Four Significant Energy Cases

The U.S. Supreme Court will begin its 2019 term next Monday with four energy-related cases potentially gaining exposure. Pipeline cases involving the Appalachian Trail, the quick take of property by developers, state land takings and the use of eminent domain for export markets could become hot topics of discussion before the nine justices. Atlantic Coast …

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Devon Reduces Oklahoma City Staff by 40

Another day…another round of layoffs at Devon Energy. The company announced on Monday that it laid off forty employees in Oklahoma City as part of its continued plan to streamline operations and realign costs, according to a story aired by KWTV-9. “Throughout 2019, Devon has made a number of bold strategic moves that will position …

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Laredo Petroleum Succession Plan In Action as Jason Pigott Assumes CEO Role

The changing of the guard is under way at Tulsa-based Laredo Petroleum Inc. with Jason Pigott leading the way on October 1. Pigott continues in his role as President while succeeding Randy Foutch as the company’s new Chief Executive Officer. OK Energy Today announced Laredo’s succession plan back on April 26, 2019. Pigott joined Laredo …

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Chaparral Reaffirms $325 Million Borrowing Base

Chaparral Energy, Inc. announced the company’s bank group has completed its regularly scheduled fall borrowing base redetermination and reaffirmed the borrowing base at $325 million. As of June 30, 2019, the Oklahoma City-based independent oil and natural gas exploration and production company had approximately $33 million in cash and cash equivalents and $85 million drawn …

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NGL Completes Divestiture of TransMontaigne for Nearly $300 Million

Tulsa-based NGL Energy Partners LP announced it has completed its transaction to sell TransMontaigne Product Services, LLC and its associated assets to an undisclosed buyer for $275.5 million in proceeds at closing, according to a company press release issued on Monday. NGL monetized approximately $15.6 million in derivative assets associated with the business and slashed …

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Energy Transfer to Acquire Tulsa’s SemGroup Corporation for $5 Billion

Dallas-based Energy Transfer LP has set its sight on acquiring Tulsa-based SemGroup Corporation with a stock and cash merger transaction deal valued at $17 per share, which includes assumption of nearly $5 billion in debt, according to a recent company press release. The SemGroup acquisition will increase Energy Transfer’s scale across multiple regions and provide …

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Energy Information Administration Details Short-Term Energy Outlook

The US Energy Information Administration released its short-term energy outlook this week, outlining the country’s energy production in 2019 and future production in 2020. According to an article published by Power Technology, Brent crude oil prices averaged at $64 a barrel in July 2019, falling from $74 a barrel in July 2018. The EIA estimates …

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