ONEOK prepares for quarterly release of earnings report

While ONEOK, Inc. is preparing to release its first quarter 2020 earnings later this month, the company also took part Tuesday in a virtual summit aimed at attracting investors. ONEOK took part in the SunTrust Robinson Humphred Power, Utilities and Midstream Summit virtual conference and made investor materials available on its website, www.oneok.com. The quarterly release of …

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SandRidge names new President and suspends drilling and capex budget

    Struggling after emerging from its 2016 bankruptcy reorganization, Oklahoma City’s SandRidge Energy on Tuesday announced the naming of a new company president. At the same time, it suggested further employee reductions are coming along with a suspension of drilling activities and its remaining 2020 capital expenditures budget. Carl F. Giesler, Jr., formerly CEO …

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Paloma scores on 3 Blaine County wells

Oklahoma’s STACK play keeps coming up with big producers as completion reports filed this week showed three sister wells with combined oil production of nearly 2,000 barrels a day. It was in Blaine County where Paloma Operating Co. LLC, based in Houston drilled the three Big Nugget 9_4-15N 13W wells. The site is at 9 …

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Energy news in brief

** President Trump on Friday said he would nominate a judge who has called on his colleagues to curb agency independence to a seat on the federal appeals court where many of the nation’s environmental and regulatory disputes are decided. ** U.S. oil-by-rail volumes have declined 11% from a year ago as new pipelines and price declines offer cheaper …

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Oil loses gains made last week–Hamm still optimistic

As a survey of 30 analysts, strategists and traders showed they believe oil prices will plunge below $20 a barrel, the price of oil on Monday fell more than $2 to a level of slightly more than $26 a barrel. The CNBC survey indicated some analysts believe crude prices will actually fall to as low …

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Texas regulators to consider curbing oil production—OK regulators are mum

  Oklahoma regulators have yet to respond to one oil group’s request to consider action to help oil and gas producers, but in Texas, the Railroad Commission plans an April 14 emergency meeting to discuss curbing oil production. The meeting will specifically discuss a complaint from Pioneer Natural Resources and Parsley Energy “to determine reasonable …

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92 cent gasoline reported in Oklahoma

Gasoline prices in Oklahoma have dropped another dime this week, reaching $1.47 a gallon, but the statewide average is nearly 40 cents more than the $1.09 average for Pottawatomie County, home to the city of Shawnee. AAA Oklahoma reports motorists in Shawnee can pay as low as 92 cents a gallon for gasoline pumped at …

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Trump now hints he might consider tariffs on oil imports

    A day after meeting with oil executives from around the U.S. including Oklahoma oilmen Harold Hamm and Dave Hager, to discuss the crude oil crisis, President Trump signaled he might consider imposing tariffs on imports of crude oil in order to protect American workers from the crash in oil prices. It’s what he …

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Valero shuts down two ethanol plants and converts a third

Valero Energy Corp. has temporarily closed two of its ethanol plants and is retooling a third to make hand sanitizer as gasoline demand collapses globally. Ethanol, produced from corn processed in the plants, is used in gasoline, but the coronavirus pandemic has kept many commuters at home. “When gasoline consumption goes off the cliff, ethanol …

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NM project to reuse oil and gas waste water in growing crops moves forward

    Plans are moving ahead for a southeast New Mexico operation to treat oil and gas waste water from the Permian Basin drilling activities to be reused to water crops in the region. A Wyoming environmental company is behind the effort in Lea County and working with Hungry Horse Environmental Services based in Hobbs, …

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