By a unanimous 3-0 vote, the Oklahoma Corporation Commission approved a $30 million joint stipulation settlement on Tuesday allowing Oklahoma Gas and Electric Co. to recapture lost revenues from the company’s SmartHours program, according to a report by The Oklahoman. OG&E will recover $30.3 million — $10.1 million per year — for three years of lost revenue …
August 2016 archive
OCC Grants Approval to Fortis Acquisition of ITC Holdings
The Oklahoma Corporation Commission has granted final approval to Fortis Inc.’s application to acquire ITC Holdings Corp. for $11.3 billion, according to a company press release. The deal is expected to close by the end of the year. “The Oklahoma Corporation Commission plays an important role in protecting the interests of all Oklahomans,” said Barry …
Merger in the Works for Linde and Praxair
Linde AG and Praxair Inc. have confirmed they are in talks about a possible merger for two of the world’s largest providers of industrial gas products. Linde, based in Munich, Germany, said in a statement on Tuesday that the talks are preliminary and that “it is currently not foreseeable whether there will be any kind …
Petro River Accelerates Osage County Drilling
Petro River Oil Corp. plans to accelerate drilling in the Pearsonia West Concession in Osage County, Oklahoma, according to a company press release issued on Monday. Petro River and its operating partners plan to drill four wells this fall. The Pearsonia West Concession includes 106,500 contiguous acres centered on the structural trend of the Pearsonia-Blackland-Foraker …
Gas Pipeline Interfering With Tuttle Water Line Construction Project
A small town in Grady County is grappling with an unforeseen construction problem, according to a report published Tuesday in the Journal Record. A city water line is on hold as Tuttle’s city manager determines his next course of action. City Manager Tim Young says a gas pipeline is the cause of the delay. Prior …
A Closer Examination of the Latest Oil Patch Bankruptcy Monitor
A Dallas law firm has completed a thorough review of the oil and natural gas industry, arriving at some astonishing results. Earlier this month, Haynes and Boone, LLP produced its Oil Patch Bankruptcy Monitor detailing many surprising oil and gas statistics during the past year. The law firm found that 90 North American oil companies …
WTI and Brent Crude Finish Above $45 a Barrel on Tuesday
Oil futures finished higher Tuesday, as traders continued to weigh the likelihood of a production freeze agreement by OPEC next month, according to Bloomberg MarketWatch. September West Texas Intermediate crude climbed by 84 cents, or 1.8%, to settle at $46.58 a barrel on the New York Mercantile Exchange. On London’s ICE Futures Exchange, October Brent …
Warren Buffett’s Company Increases Holdings in Phillips 66
The Oracle from Omaha is at it again. Berkshire Hathaway Inc., the firm founded and operated by investment guru Warren Buffett, is increasing its holdings in Phillips 66. The company manages a U.S. stock portfolio amounting to nearly $130 billion. A regulatory update filed on Monday with the U.S. Securities and Exchange Commission …
Completion Reports August 17, 2016
BLAINE COUNTY Continental Resources Inc Mississippian Ex Chester: Oil 2513 Gas 6148 Water 421 Flow 9 16N 12W Madeline 1-9-4xh, June 06, 2016 HH, OIL, TD: 20398 ft Lat: 35.87109, Long: -98.48480 API: 35011235800001 Continental Resources Inc Woodford(14213): Gas 4893 Water 2832 Flow 20 14N 13W Watson South 1-20-29xh, July 09, 2016 HH, GAS, TD: …
Permits to Drill August 17, 2016
Beckham County KLOPFENSTEIN 16-11-23 #1HB, August 16 2016 21 11N 23W NENENENE API: 00921979 Lat: 35.42121689623471, Long: -99.62967965812607 ENERVEST OPERATING LLC HH, DR, 18525 ft, MARMATON(13125) Carter County LEDBETTER #1-A, August 16 2016 06 1S 3W CN2NWNE API: 01926228 Lat: 34.50593789489934, Long: -97.55149537180147 PRUITT OPERATING COMPANY LLC SH, DR, 4000 ft, HOXBAR(2700), DEESE(3000) Coal County …