$1.7 billion Power Company Purchase in Texas

  A monster acquisition was announced Monday in Texas where Vistra Energy based in Dallas acquired Dynegy in an all-stock deal worth $1.74 billion. The deal will result in a combined company with a market value of more than $10 billion. The two firms stated the purchase will also generate $350 million in earnings before …

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ConocoPhillips Cuts Capital Budget by $300 million……No Word on Impact in Bartlesville

In a move to lower breakeven prices and generate free cash flow, Houston-based ConocoPhillips is trimming its 2017 capital budget by another $300 million. The move to cut the cap budget to $4.5 billion comes after a second quarter cut of $200 million from the original budget of $5 million for the year. There’s no …

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Largest Offshore Oil Lease Auction Announced by U.S. Government

How’s this for a lease auction?  An area the size of the state of New Mexico! The U.S. Interior Department will be taking bids on a 77-million acre lot in the Gulf of Mexico, a lot that could bring in nearly $120 million for the U.S. Treasury and states like Texas, Louisiana, Mississippi, Alabama and …

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Nationwide Rig Count Drops While Oklahoma’s Grows

While the national oil and gas rig count dropped in the past week, the count in Oklahoma grew by one to reach 125. Reports from Baker Hughes Co. and the Independent Oil and Gas Association showed the U.S. count fell by 4 to reach 909. In the past week, the oil rig count added one …

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Puerto Rico Calls Off Electrical Contract With Montana Firm

As Puerto Rick attempts to immediately cancel a $300 million electrical power contract with a tiny Montana company in Interior Secretary Ryan Zinke’s hometown, a $200 million contract with an Oklahoma company remains intact. Puerto Rico Gov. Ricardo Rossello is pushing to have the Puerto Rico Electric Power Authority to immediately end the contract with …

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Governor Criticizes Legislators for Failing to Reach Budget Fix

The Oklahoma State House went back to work Monday after a weekend session where little if any progress was reported on a budget fix. The “fix” includes a possible hike in the gross production tax on oil and gas, raising it to 4 percent on new wells. But the House Joint Committee on Appropriations and …

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Judge Rules Earthquake Lawsuit Stays in Pawnee Nation Court

Earthquake attorney Scott Poynter reports a lawsuit filed in the Pawnee Nation courts blaming two energy companies for the 2016 Labor Day weekend quake near Pawnee is moving ahead. On his law firm’s website, the Little Rock, Arkansas attorney indicating Pawnee Nation Judge Dianne Barker Harold heard arguments on Friday in the case. The case …

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Soonerpoll Shows Most Oklahomans Are Against Raising Motor Fuels Tax

While the state legislature struggles over a budget fix bill, one including a proposed 6-cent-a-gallon jump in the motor fuels tax, a new poll shows most Oklahomans don’t want it. The Sooner Poll by News 9 and News on 6 found 52.7 percent are opposed to the plan and 44.7 percent of them are “strongly …

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Oil State Senators Want White House Meeting to Talk Biofuels

Oklahoma U.S. Senators Jim Inhofe and James Lankford are among several oil state Senators who wrote to President Trump asking for a meeting with him to discuss the controversial Renewable Fuel Standard. Their letter came after Midwest lawmakers pressured the Trump administration to continue supporting the RFS. And it was considered a big win for …

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Broken Arrow Students and City Launch Joint Conservation Project

High school students and officials in Broken Arrow have started working together in an environmental conservation project involving a floating wetland. As the Tulsa World recently reported, the new joint conservation partnership focuses on a detention pond across from the Broken Arrow High School.  Eventually, students and city workers will use the project to target …

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