Category: Oil & Gas

Kansas lawmakers reconsider a statewide energy plan following historic cold weather

  A move by Kansas legislators to reconsider whether the state needs a statewide energy strategy is one that will have a direct impact on at least one Oklahoma energy company. It’s a direct reaction to the historic and extreme cold weather that hit Kansas, Oklahoma and Texas. ONE Gas serves 2 million customers in …

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Increased earnings for midstream operator Holly Energy Partners

  Pipeline operator Holly Energy Partners, L.P. reported increased net income in the fourth quarter of 2020, reaching $51.3 million and 49 cents per basic and diluted limited partner unit. The income compared to the $45.7 million and 43 cents a unit for the fourth quarter of 2019. The Texas-based firm whose subsidiary is HollyFrontier …

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Energy news in brief

** New Mexico officials promote an oil and gas company’s 8 MW solar array in the Permian Basin as the type of carbon-reducing initiative companies could pursue under a statewide “clean-fuel standard.”  ** German automaker Porsche is working on a synthetic fuel technology that the company says has the potential to make combustion engines just as clean …

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Increased earnings reported by ONEOK Inc.

  ONEOK Inc. reported improved earnings in the fourth quarter 2020 and for the year. The company saw an 11% increase in operating income to nearly $539 million while it had 12% growth in adjusted EBITDA of $742 million. ONEOK reported full-year 2020 net income of $612.8 million, which includes noncash impairment charges of $644.9 million. The …

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Cimarex records 4Q net income instead of loss

  Things turned around for Denver-based Cimarex Energy as the company reported fourth quarter 2020 net income of $24.7 million or 25 cents a share. It came after the company also reported its entire 2020 loss totaled more than $1.9 billion or $19.73 compared to the 2019 net loss of $124.6b million or $1.33 per …

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Chesapeake takes next step after post-bankruptcy emergence

  Oklahoma City’s Chesapeake Energy took further steps this week to shore up its economics after emerging earlier in the month from Chapter 11 bankruptcy in a Houston, Texas federal courtroom. The company filed a Form S-8 with the Securities and Exchange Commission in which it registered 6,800,000 shares of common stock valued at a …

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Oklahoma legislators to investigate stormy utility bills

Oklahoma legislators joined the rush this week to begin investigations into the bills that Oklahomans might face as a result of the rolling blackouts and extreme natural gas costs during last week’s historic cold weather. Oklahoma House of Representatives Utilities Committee Chair Rep. Garry Mize, R-Guthrie, announced Monday his committee intends to hold hearings to …

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Gas industry fights bans and its efforts are spreading

  Pro-gas legislation is growing in several states as legislatures move to prevent natural-gas bans on new construction. Oklahoma is one of them. As National Public Radio reported, the gas industry is fighting to stay alive amidst the climate change struggle. Click here for NPR story.  

EPA changes stand on ethanol fight by Oklahoma refinery

  In a case directly involving at least one Oklahoma refinery, the federal government came out this week in support of the ethanol industry in a fight over biofuel waivers granted to oil refineries by the Trump administration. The Environmental Protection Agency announced its stand on Monday but the impact of the support on a …

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Writer says Texas power losses were inevitable because of green energy push

  Writing in USA Today, contributor Jason Hayes has another opinion about the massive power failure in Texas—that the state’s renewable energy sources were so large because of state mandates and federal subsidies and in turn, it led in part to the deadly situation. He says the outages were “inevitable.” “Over a decade of misguided …

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