NGL Moves Forward With Debt Reduction After Pipeline Sale

Tulsa-based NGL Energy Partners LP announced this week it has completed part of its deleveraging plan using the $300 million in proceeds received from the sale of its 50% interest in Glass Mountain Pipeline LLC. The resulting debt reduction includes a prepayment in full of all its 6.65% senior secured notes due June 19, 2022. The …

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Dallas Energy Firm Delisted From NYSE as Troubles Grow

All is not good in the oil patch for some firms such as Dallas based EXCO Resources. It has been delisted from trading at the New York Stock Exchange. Known for its oil and gas exploration in the Eagle Ford Shale, EXCO has started trading on the OTC Pink Marketplace. The New York Stock Exchange …

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Monthly Business Survey Shows Continued Economic Growth in Midwest

A monthly survey of supply managers in Oklahoma and 8 other Midwestern states shows more regional economic growth.  The Mid-America Business Conditions Index  carried out by Creighton University economist Bernie Goss revealed growth for December 2017, making it 13 straight months of improvement. However, Oklahoma’s overall index in the survey slipped slightly from November from …

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Retired General Accuses Supreme Court of Dereliction of Duty

The Oklahoma State Supreme Court’s recent decision not to overturn a bribed 1989 Corporation Commission vote on an ATT rate case prompted one consumer to accuse the justices of “dereliction  of duty.” The charge comes from Lt. Gen. Richard A. Burpee, the former commanding general of Tinker Air Force Base. He and a handful of …

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Worker Killed in Oilfield Site

An accident at an oilfield lease site near the town of Ninnekah in Grady county left one man dead over the weekend. The Oklahoma Highway Patrol identified the victim as Jessie Ray Martinez of Purcell. He was killed when he was caught between the back of a truck and a backhoe that was unloading mud. …

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Mustang Works to Settle Lawsuit Against Citizen Energy

Even though it filed suit against Tulsa-based Citizen Energy over well-drilling sites, the city of Mustang is working to settle the lawsuit in Canadian County District court. As the Mustang Times reported, the city council in a meeting prior to Christmas went into a special executive session over a proposed settlement and journal entry of …

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Analysts say New Tax Law Will Cause Surge in Capital Improvement Projects in Energy

We’ve already seen announcements of pipeline construction and deals in Oklahoma, Texas and Kansas and whether it stems from the new federal tax reform remains in doubt. In all liklihood, the deals were in the works as Congress debated the merits of the reforms before passing them. But energy industry lobbyists and analysts are suggesting …

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New Yorker Sues Because Fracking is Banned on His Land

Just because political leaders in New York convinced the state to ban fracking doesn’t mean everyone’s against it. Take the recent case of attorney David Morabito of East Rochester. He’s been fighting the hydraulic fracturing ban for years and recently filed a lawsuit trying to force New York to compensate him for the oil and …

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Record Annual Production for 2017 in Permian Basin

  It is the largest oil play in the U.S. and now the Permian Basin has yielded more barrels of oil than ever before. The production of the play in West Texas came to 815 million barrels in 2017. The previous record was 790 million in 1973 according to IHS Markit. “The magnitude of the …

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Stench Leads to Energy Company Cited in One Texas City

Many the feedlot operator who had a quick response for visitors who complained of the smell, “That’s the smell of money.” Such was the case for the past several months in Odessa, Texas where growing complaints from residents led to a state investigation and wrongful accusations against one energy company. Their complaints didn’t focus on …

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