Midstates Petroleum wraps up $50 million tender offer

  Midstates Petroleum Company, Inc. in Tulsa announced the final results of its tender offer to purchase for cash up to 5,000,000 shares of its common stock (the “shares”) at a price of $10.00 per share, which expired at 5:00 p.m., New York City time, on Tuesday, February 12, 2019. Midstates has accepted for purchase …

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ConocoPhillips urges shareholders to reject min-tender offer

ConocoPhillips has come out and advised shareholders it is not endorsing a mini-tender offer by Baker Mills LLC to buy up to 50,000 shares of ConocoPhillips common stock. It is an unsolicited offer to buy the shares from stockholders and the offering price is $55 a share. ConocoPhillips said in a recent announcement the offer …

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PSO awards $50,000 grant to University of Tulsa

  Public Service Company of Oklahoma announced a $50,000 grant to the University of Tulsa on behalf of the American Electric Power Foundation to help bring new state-of-the-art equipment and technologies to the school’s Electrical and Computer Engineering (ECE) Department. The grant will go toward updating the department’s Electric Machines Lab, initiating a Power Electronics …

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USS Tulsa joins Navy fleet

Senator James Lankford  provided the keynote address at the commissioning of the new Littoral Combat Ship (LCS), the USS Tulsa. Lankford attended the commissioning at Embarcadero Pier 30/32 in San Francisco, CA. “It is a great honor to join so many Oklahomans to officially welcome the USS Tulsa into the Navy’s LCS fleet,” said Lankford. “The USS Tulsa truly represents …

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More oil well success in Grady County

More than a year after Marathon Oil Co. drilled a Grady county well, it filed a completion report showing initial oil production of 1,630 Boed along with 5,911 Mcf of gas The Lightner 0505-1-18-19wxh is located about one mile southeast of the town of Alex (19 5N 5W) and had a spud date of October …

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Laredo Petroleum announces 4Q earnings

Tulsa’s Laredo Petroleum reported fourth quarter 2018  net income of $149.6 million or 65 cents a share. It also stated its net income for all of 2018 totaled $325 million which translated to $1.39 per diluted share. Laredo’s production averaged 68,168 barrels of oil equivalent a day during 2018 which was a 17% increase over …

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Ditch Witch maker sold in $700 million deal to Toro

After 117 years of being Oklahoma owned, the Perry-based Charles Machine Works, makers of Ditch Witch equipment has been sold in a $700 million deal to the Toro Company. Toro is based in Bloomington, Minnesota and explained it is a cash deal for the Ditch Witch company that was founded in  1902. The deal is …

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Oklahoma’s rig count dropped in past week while national numbers increased

Oil and gas rig counts fell in the past week in several energy-producing states including Oklahoma where the count dropped one to reach 119. The national rig count grew by 2 to reach 1,051. It included 3 more oil rigs to reach a total of 857 while the gas rig count dropped by on e …

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Oklahoma’s Senators and Representatives split their votes on the border wall deal

Oklahoma’s congressional delegation split its votes on the border wall funding agreement that was passed in the U.S. Senate then in the House. Sen. Jim Inhofe voted against the measure saying it failed to provide sufficient funding for border security. “I’ve been saying this from the beginning—we need to seriously strengthen our border security to …

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Boston investment firm confirms 5.2% ownership in Devon Energy

A Boston, Massachusetts-based company has made a filing with the Securities and Exchange Commission on its ownership of shares in Oklahoma City’s Devon Energy. State Street Corporation indicated it has shared voting power with 22,705,926 shares in the company. But its total share ownership amounts to 24,475,859 which amounts to 5.2% ownership in Devon. State …

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