Oil futures were sharply lower Thursday, with prices logging their lowest settlement since mid-September, as worries about rising cases of COVID-19 worldwide fed expectations for a slowdown in energy demand. West Texas Intermediate crude for November delivery dropped $1.50, or 3.7%, to settle at $38.72 a barrel on the New York Mercantile Exchange, following a …
NextEra Energy is acquiring GridLiance in a $660 million deal announced this week, one involving some Oklahoma operations. The actual purchase is made by NextEra Energy Transmission, LLC, a subsidiary of Next Era Energy, Inc., a large wind farm operator in Oklahoma. Based in Dallas, GridLiance operates more than 700 miles of transmission lines …
After talking to nearly 50 educators from all across the state, the OERB announced it is partnering with Oklahoma teachers through Operation Engagement to provide high-quality, relevant training for 2020. These two-hour virtual workshops provide the tools they need to keep students engaged, in person or virtually, during this tough school year. This is the only …
U.S. pipeline companies are sweetening terms in a competition to keep producers using their lines as the industry downturn caused by the coronavirus pandemic means there is less oil to transport. Tulsa-based Magellan is one of them. The pandemic has ended a boom in U.S. shale production which had prompted a rapid expansion in …
Oasis Petroleum Inc and Lonestar Resources US Inc’s bankruptcy filings are the latest in a slew of restructurings that put oil-and-gas producers on track for their biggest year of bankruptcies since the 2016 shale downturn. Thirty-six producers with $51 billion in debt filed for bankruptcy protection in the first eight months of the year, …
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 …
