Marathon Petroleum Corp , the largest U.S. oil refiner, said it would lay off about 2,050 employees, or 12% of its workforce, at its U.S. operations, excluding Speedway, as the COVID-19 pandemic crushed global demand for motor fuels. The workforce reduction plan is a result of indefinite idling of its Martinez, California and Gallup, …
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 …
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 …
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 …
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 …
Tribal governments are working with archaeologists to identify thousands of culturally-sensitive sites and resources in the Greater Chaco region of northwest New Mexico in hopes of preventing oil and gas development in the area from encroaching further onto the sacred landscape. The New Mexico Political Report said the studies are part of a multi-pronged …
ConocoPhillips provided information regarding certain preliminary third-quarter 2020 operational and financial updates. Final third-quarter results will be reported on Oct. 29. The company also announced that it intends to resume share repurchases of $1 billion during the fourth quarter of 2020 under its existing authorization. The repurchases will be funded from available cash on …
The Board of Directors of Ring Energy, Inc. in Midland, Texas announced it has appointed former SandRidge Energy President Paul D. McKinney as Chief Executive Officer and Chairman of the Board of Directors. McKinney, an industry veteran, began his career in 1983 with Anadarko Petroleum Corporation. Over a 23 year period with Anadarko, he …
NGL Energy Partners LP announced that the partnership signed a new water supply agreement and a separate produced water transportation and disposal agreement with a leading, super major producer customer operating within the Delaware Basin. The new produced water minimum volume commitment covers acreage located in Lea County, New Mexico . The minimum volume …
While oil futures went up in Wednesday’s trading, Oklahoma energy stocks did just the opposite with one local company seeing a nearly 14% plunge in the value of its shares. Alliance Resource Partners dropped 2 cents or about 1% to settle at $2.77. Blueknight Energy Partners slipped 5 cents for a 3.14% decline to …
