December 5, 2017 archive

Oil Prices Continue to Slip in U.S.

Oil prices continued on Tuesday to dip lower in the U.S. while overseas, they were up slightly. West Texas Intermediate crude fell 18 cents to reach $57.44 a barrel on the New York Mercantile Exchange. The drop represented a fall of three-tenths of a percent in trading for January contracts. Overseas in London, Brent Crude …

Continue reading »

Magellan Plans New Texas Pipelines

Tulsa’s Magellan Midstream Partners LP recently announced plans to develop a new pipeline to transport oil from the Permian and Eagle Ford Basins of Texas to several destinations in the Corpus Christi and Houston markets. Magellan’s existing crude oil terminals in the markets will also receive some of the shipments. The company announced it has …

Continue reading »

$49 million in Highway Projects for OKC

Nearly $49 million in State highway improvement projects in Oklahoma City were approved this week in a meeting of the Oklahoma Transportation Commission. A $27 million contract was awarded to Allen Contracting Inc. and Shell Construction Inc. to finish two remaining core sections of the Oklahoma City Boulevard in downtown. The interior sections between Western …

Continue reading »

Continental Resources Offers $1 billion in Notes

A $1 billion offering of unsecured notes has been announced by Oklahoma City-based Continental Resources Inc. The offering involves 4 3/8% senior notes due 2028 and the offering is expected to close Dec. 8 subject to customary closing conditions. In making the announcement, the company said it “intends to use the net proceeds from this …

Continue reading »

4.2 Magnitude Quake Rattles Noble County

  The earthquake review team at the Oklahoma Corporation Commission responsible for monitoring earthquakes will most likely be studying data from the 4.2 magnitude quake that hit Monday night in the northern part of the state. Strong enough to be felt in Wichita, Kansas, the quake’s epicenter was about 8 miles northeast of Perry and …

Continue reading »

Environmental Group Sues EPA for Copies of Scott Pruitt’s Speeches

The environmental group, The Environmental Integrity Project has filed suit against the Environmental Protection Agency in a fight over the release of copies of speeches given by Administrator Scott Pruitt. The organization accuses the EPA of “breach of contract” for not supplying copies of the speeches by Oct. 24 under a Freedom of Information Act …

Continue reading »

Wind Developers Could be Hit Under Senate Tax Reform Bill

Wind developers in Oklahoma and across the rest of the country might not fully embrace the tax reform plan passed over the weekend by the U.S. Senate. That’s because it would reduce the number of years that developers were allowed to claim the wind production tax credit, according to a report by E and E …

Continue reading »

Energy Firms Attempt Private Cleanup of Contaminated Creek in Osage County

A new effort is being made this week in the cleanup of a contaminated section of Bird Creek on the Chapman Ranch in Osage County. The creek was the subject of a visit by EPA Administrator Scott Pruitt last spring and has been the target of EPA concerns over salt water that might be seeping …

Continue reading »

Gasoline Prices Hit $2.23 Average in Oklahoma

Oklahoma gasoline prices now average $2.23 a gallon, a drop of 11 cents in the past month, according to a weekly report from AAA Oklahoma. The 11-cent decline is one of the top ten largest monthly changes in gasoline prices across the U.S. The largest drop was reported in Indiana where prices fell 40 cents …

Continue reading »