Arkansas federal judge rules sleeping truckers are still on the job

An Arkansas federal judge has ruled against P.A.M. trucking in a class-action lawsuit involving 3,000 drivers who argued they should be paid even while sleeping in their trucks. U.S. District Judge Timothy L. Brooks in Fayetteville issued his ruling denying the Tontitown, Arkansas-based trucking company a motion to dismiss the lawsuit, The trucking company, with …

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BLM yanks 149,000 acres out of oil and gas lease sale in Colorado

Colorado Gov. John Hickenlooper’s concerns about oil  and gas drilling on the greater sage grouse have prompted the Colorado Bureau of Land Management to remove nearly 149,000 acres from a December sale of federal oil and gas leases. The BLM announced it would remove 142 parcels totaling 148,797 acres that are in the greater sage …

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Drill bit manufacturer sold in $700 million acquisition

Reuters is reporting Blackstone Group has agreed to buy Ulterra Drilling Technologies of Fort Worth in a $700 million acquisition. Ulterra, manufacturer of drill bits and downhole tools is said to be one of several oilfield service firms shopped around in recent weeks. The company is not commenting about the sale. But sources indicate Blackstone …

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Hyperloop proposed to link Kansas City and St. Louis

Plans have been unveiled for a Missouri Hyperloop linking Kansas City with high-speed transportation along Interstate 70 to Columbia, Missouri and St. Louis. Black and Veatch released its feasibility study after 9 months of reviewing the possibility of such a transportation line. A report by the Kansas City Business Journal indicated the study claimed the …

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Schlumberger reports increased earnings in 3Q

Houston-based Schlumberger Limited reports a 2% increase in third quarter earnings of $8.5 billion.  The company said its pretax operating income was $1.2 billion which was a 5% increase sequentially. But operations in Oklahoma and Texas didn’t produce the realized revenue that the company was anticipating. Cash flow from operations totaled $1.8 billion leading Paal …

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Holly Energy reports 56th straight dividend increase

With crude oil gathering and storage operations in Oklahoma, Dallas-based Holly Energy Partners, L.P. announced an increase of its quarterly dividend for the 56th consecutive quarter. The company declared a cash dividend of 66 cents a share for the third quarter of 2018 which was a 3.1% increase over the third quarter 64 cent dividend …

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Halliburton reports “flat” earnings for 3Q

Halliburton Company reported third quarter earnings of $435 million or 50 cents a diluted share. The Houston company with major operations in Duncan, Oklahoma and offices throughout the state considered revenue to be flat. It’s a drop from the $511 million reported in the second quarter of the year when the earnings were 58 cents …

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Quakes struck the region over the weekend including a 4.0 quake in the Texas Panhandle

At least three earthquakes were reported over the weekend in Oklahoma, Missouri and Texas. The U.S. Geological Survey indicated at 3.1 magnitude earthquake struck Saturday morning at 7:47 with an epicenter a few miles west of the Post Oak in southern Oklahoma. The epicenter was also about 19 miles southwest of Ardmore with a depth …

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Oil well leak contaminates creek near Purcell

The oil leak into Turkey Creek in Purcell involved an estimated 45 barrels of oil from a production tank over the weekend. Matt Skinner, a spokesman with the Oklahoma Corporation Commission indicated the oil came from a tank and well operated by January Investments, LLC of Norman. A total of about 132 barrels of oil …

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Gasoline prices take an 8-cent plunge in Oklahoma

With national gasoline prices reaching an average of $2.85 a gallon, prices have fallen in Oklahoma to an average of $2.61, down 7 cents in the past week. Oklahoma’s average is the same in Texas while prices are slightly higher in Kansas where the average is $2.67. Missouri’s down to $2.59 a gallon and the …

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