ONEOK leaders busy with investment conferences in August

  Executives at Tulsa-based ONEOK, Inc. will be busy this month attending investor conferences—virtually. The first was held Thursday as they took part in the 11th annual Tuohy Brothers Annual Energy Conference. On Aug. 11, ONEOK leaders plan to take part in the Goldman Sachs Power, Utilities, MLPs and Pipelines conference. They will also seek …

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Plains All American reports 68% plunge in 2Q net income

  Houston’s Plains All American Pipeline, L.P. reported a 68% drop in net income as it totaled $142 million in the second quarter of the year and delivered adjusted EBITDA of $524 million. Net income a year ago was $446 million and company write-downs reached more than $3 billion for the first half of the …

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Lower earnings reported by OGE Energy Corp.

    Lower earnings in the second quarter of 2020 were reported Thursday by OGE Energy Corp., the parent company of Oklahoma Gas and Electric Company. The drop in earnings appears to have been driven by the firm’s part ownership of Enable Midstream, a firm with lower revenue due to the COVID-19 pandemic. Earnings were …

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Laredo Petroleum reports $545 million 2Q loss

  Tulsa’s Laredo Petroleum, Inc. reported a second quarter 2020 loss of $545.5 million or $46.75 per diluted share. The company also indicated it plans to resume well completions in Texas in the coming month. The company’s adjusted net income was $28.4 million or $2.43 per adjusted diluted share while its adjusted EBITDA was $132.8 …

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OGE power crews head east to New Jersey to help with tropical storm recovery

  Oklahoma Gas and Electric crews are on their way to New Jersey to help with restoration of electrical power after Tropical Storm Isaias hit the East Coast. At least 65 OGE workers gathered early Thursday morning and started driving their trucks to New Jersey where thousands are without power. OGE said Jersey Central Power …

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Natural gas replaces growing number of coal-fired power plants in US

    Oklahoma coal-fired power plants are among those on a long list across the U.S. that have been converted to natural gas in the past 9 years. The Energy Information Administration said Wednesday that a total of 103 of the coal-fired power plants were switched to natural gas or replaced by natural gas-fired plants …

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SandRidge Energy reports a $216 million loss or more than $6 a share

  Weeks after SandRidge Energy, Inc. sold its downtown Oklahoma City high-rise headquarters in a more than $35 million deal with the state, the company released its second quarter earnings report showing a net loss of nearly $216 million or more than $6 a share. The firm also expressed some doubts about its chances of …

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Oil ends at 5-month high after data shows drop in crude supplies

  A government report showing a large drop in U.S. crude inventories, including those in Cushing, Oklahoma resulted in oil futures posting their highest close in five months in Wednesday’s trading. But analysts say an unexpected increase in gasoline stocks apparently stalled the oil futures increase. West Texas Intermediate crude for September delivery finished the …

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U.S. court allows Dakota Access oil pipeline to stay open

  The Dakota Access Pipeline won’t be closing after all, following a U.S. appeals court ruling on Wednesday that stayed a federal judge’s ruling from July. However, U.S. regulatory officials may still have to issue another environmental assessment for DAPL before deciding if the 570,000-barrel-per-day oil pipeline can continue to operate, the U.S. Court of …

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Earnings in 2Q slipped for Tulsa’s Blueknight Energy Partners

  Second quarter earnings for Tulsa-based Blueknight Energy Partners slipped $2 million as the company reported net income of $1.4 million along with operating income of $4 million and adjusted EBITDA of $16.1 million. But crude storage took a big jump upward and the company might make a stronger focus on terminalling. Net income was …

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