Forecast calls for Marathon to see a decline in revenues

Another company that is expected to report a year-over-year drop in earnings on lower revenues this month is Marathon Petroleum, the Texas company with a footprint all over Oklahoma’s STACK play. The company’s earnings report will be released next week on January 29. Some analysts suggest Marathon’s quarterly earnings will be 85-cents a share, a …

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DEQ pushes National Radon Action month

The U.S. Environmental Protection Agency (EPA) has designated January as National Radon Action Month. The Oklahoma Department of Environmental Quality (DEQ) is working with EPA in a nationwide campaign to educate Americans about the dangers of radon exposure and to encourage citizens to take action to protect their homes and families. Radon is a naturally …

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Texas oil and gas operators hit with $900,000 in fines

Texas Railroad Commissioners laid out nearly $900,000 in fines this month against pipeline contractors and oil and gas operators. The $899,005 in fines involved 222 enforcement dockets against operators and businesses. The commissioners took the action as they have primary oversight and enforcement of the oil and gas industry and intrastate pipeline safety in Texas. …

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Work to begin soon on Keystone XL pipeline

Pre-construction work on the Keystone XL oil pipeline could begin in a few weeks according to Canadian pipeline company TC Energy Corp. The company stated this week that it will begin the work in February on the long-delayed project. TC Energy explained in a filing with the U.S. District Court in Montana it plans to …

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Quarterly dividend declared by Blueknight Energy Partners

Tulsa’s Blueknight Energy Partners, L.P. announcedthat the board of directors of its general partner has declared a quarterly cash distribution. The dividend is on the Partnership’s common units of $0.04 per common unit, as well as a cash distribution of $0.17875 per unit on the Partnership’s preferred units for the quarter ended December 31, 2019. …

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200-foot long broken underwater pipe stuck in straits

The broken section of pipe in the Straits of Mackinac in Michigan is far more extensively damaged then initially reported. A 200-foot-long broken boring pipe remains embedded at the bottom of the Straights and Enbridge Inc. now says it might not be able to recover the pipe. The company was able to recover a broken …

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FERC approves new natural gas pipeline in Permian

Federal regulators have signed off on Kinder Morgan’s planned Lockridge natural gas pipeline in the Permian Basin in West Texas. The U.S. Federal Energy Regulatory Commission on Wednesday approved the line that is designed to help remove natural gas from the Permian basin in West Texas and eastern New Mexico. The basin has seen record …

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Gulfport Energy to pay $1.7 million EPA fine

Oklahoma City-based Gulfport Energy Corp. has agreed to pay a $1.7 million fine to the U.S. Environmental Protection Agency for alleged violations of the Clean Air Act at some of its oil and natural gas production wells in Ohio. The Chicago office of the EPA made the announcement this week and said Gulfport will not …

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Sister wells a solid hit for Gulfport MidCon Energy

Tulsa’s Gulfport Midcon LLC had some success in Oklahoma’s SCOOP where it completed two sister wells with production of nearly 1,500 barrels of oil a day. The company drilled the two Dale wells at 13 4N 6W or about 5 miles south of the Grady County town of Alex. The first well had production of …

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Big writeoff for Halliburton in 4Q

In reporting a fourth quarter loss of $1.7 billion, U.S. oilfield services firm Halliburton Co.also disclosed a $2.2 billion charge to earnings as weakening North American shale activity continued to hit the industry. The charge for asset impairments was centered on hydraulic fracturing and legacy drilling equipment units, and employee severance costs, the company said. …

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