Texas-based construction company, U.S. Trinity Energy Services has filed a lawsuit against a Pennsylvania pipeline company to get $103.8 million that it says it is owed, asking that the pipeline be sold to satisfy its claim. The suit was filed by U.S. Trinity Energy Services LLC in Allegheny County Common Pleas Court in Pittsburgh, …
Occidental Petroleum Corp announced it plans to finance development of the largest ever facility designed to pull carbon dioxide out of the air through a direct air capture process. Oxy Low Carbon Ventures LLC said it has formed a development company with sustainability-focused private equity firm Rusheen Capital Management LLC to license the direct …
The U.S. Securities and Exchange Commission is considering enforcement action against United States Oil Fund LP (USO), the largest crude oil exchange-traded fund, due to statements made after oil prices plunged into negative territory in April. The United States Oil Fund LP was designed to mimic day-to-day fluctuations in current U.S. oil futures. In …
The same Oklahoma Indian activist who made a run for Oklahoma Corporation Commissioner in 2018 was one of those taking part this week in a Democratic National Convention panel where she urged the destruction of capitalism in the U.S. Ashly Nicole McCray, known for her often blunt in-your-face opposition to police and government regulators …
A federal judge in Bismarck has ruled the state of North Dakota can move forward with a lawsuit against the U.S. Army Corps of Engineers in attempting to recover money spent policing protests against the Dakota Access oil pipeline. U.S. District Court Judge Daniel Traynor denied the federal government’s motion to dismiss North Dakota’s …
As it works on its long-term debt of $36 billion, Occidental Petroleum Corp has announced a $1.33 billion sale of some of its holdings in Colorado, Wyoming and Utah to Orion Mine Finance. As Reuters reported, Occidental amassed the debt it took on with its purchase of Anadarko. Occidental has been trying to …
After oil futures finished flat in Wednesday’s trading, most Oklahoma energy companies experienced declines. Only a few saw slight increases at day’s end. SandRidge Energy dropped 3 cents or 1.60% to $1.84. Devon Energy suffered a 2.21% or 25 cent drop to end the day at $11.09 a share. Continental Resources ended the day …
The U.S. crude benchmark shook off early losses to end little changed on Wednesday, finding support after government data showing a fall in gasoline inventories soothed jitters over demand as a pandemic-lightened driving season moves into its final stretch. Traders were also keeping an eye on a meeting of an OPEC+ panel that was …
Thanks to a partnership with a geoscientist in the Permian Basin, a family-owned oil company is celebrating its largest discovery yet: a 13,000-acre field in Val Verde County holding an estimated 417 billion cubic feet, or 74.2 million barrels, in oil and gas reserves. The Fort Worth Star Telegram reported Barron Petroleum, based in …
The Oklahoma Corporation Commission will meet again on Thursday and will take up a recommended continuation of a proration formula for natural gas production. Robyn Strickland, Director of Oil and Gas Conservation Division recommended the commission continue with a 50% proration formula. Her recommendation would cover the period of Oct. 1, 2020 and continue …
