Positive free cash flow reported by Ascent Resources

  The fourth quarter of 2019 saw a drop in earnings forAscent Resources Utica Holdings, LLC in Oklahoma City but its overall 2019 net income saw a huge turnaround compared to 2018. The company reported fourth quarter net income of $65 million and adjusted net income of $98 million compared to net income of $124 …

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OGE wants rate hike to repair aging system

Oklahoma Gas and Electric is hoping to convince state regulators to approve a plan to raise rates on customers so improvements can be made to the utility’s aging transmission and distribution system. The company filed a request Monday with Corporation Commissioners for approval of a cost recovery mechanism of a proposed five-year improvement plan. OGE …

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Flood maps and climate change to be focus of House hearing

Oklahoma U.S. Reps. Frank Lucas and Kendra Horn will be among those in Congress this week exploring the issue of whether the National Flood Insurance Program should be reauthorized. Both sit on the House Science, Space and Technology Committee. Rep. Lucas, a Republican is the ranking minority member while Congresswoman Horn is on the Democratic …

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EPA budget plan to be reviewed by House subcommittee

Oklahoma Congressman Markwayne Mullin and others on a House subcommittee will hear from EPA Administrator Andrew Wheeler this week to discuss the White House’s fiscal 2021 budget plan. Rep. Mullin, a Republican from eastern Oklahoma, is a member of the House Energy and Commerce Subcommittee on Environment and Climate Change where Wheeler will testify on …

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Energy stocks take a hit from spread of coronavirus

Not only did energy stocks across the board take a hit Monday as the coronavirus spread around the world, Oklahoma City’s Chesapeake Energy trading hit a record low on Wall Street. Chesapeake shares dropped 4% and hit an all-time low of 40.30 cents during mid-day trading. Crude oil futures dropped 4.6% to $50.95 while the …

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Misleading headline and study about fracking and sexual diseases

  Talk about a misleading headline—how’s this? “Fracking linked to increased  sexually transmitted infections.” It’s what the headline read over an E & E story about increased rate of sexually transmitted diseases and a study by Yale University researchers. “Rates of two sexually transmitted infections are higher in Texas counties with heavy fracking activity compared …

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Will bankruptcies grow with oil and gas slowdown?

While oil and gas exploration reaches a near stall across Oklahoma and the rest of the country, bankruptcies are being monitored.  Those that have happened and those that are about to happen. Some Oklahoma companies are mentioned as possible bankrupt cases, including some major firms, but so far in 2020, they have yet to happen. …

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Energy news in brief

** The U.S. Supreme Court heard arguments month in the long-running battle between developers a 605-mile long natural gas pipeline and environmental groups opposing it crossing the Appalachian Trail. Dominion Energy and Duke Energy still need a permit for the Atlantic Coast Pipeline and opponents contend the Forest Service does not have the authority to grant …

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New Mexico congresswoman is a Democrat and opposes fracking ban idea

She might be a Democrat but New Mexico U.S. Rep. Xochitl Torres Small knows where her state’s revenue comes from….her own congressional district that is rich because of the Permian Basin. She’s joined Oklahoma Democrat U.S. Rep. Kendra Horn in opposing a fracking ban proposed by other Democrats. She also finds herself on the same side …

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Boeing still working on KC 46 fixes

  Air Force Chief of Staff Gen. David Goldfein said recently that the Boeing Co. is closing in on a fix for one of the biggest issues still vexing the KC-46 tanker. It’s the new tanker that was presented at Altus Air Force base during ceremonies last year featuring Oklahoma U.S. Sen. Jim Inhofe. In an interview with Defense News, …

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