April 2018 archive

NW Oklahoma to Get Frac Sand Plant Next to STACK and SCOOP

Northwest Oklahoma will be the site of a fracking sand plant that will create more than 130 new jobs for the area. Preferred Sands, headquartered in Radnor, Pennsylvania has already broken ground for its frack sand plant to be located at the small community of Oakwood, midway between Watonga and Woodward. “Concrete’s being poured and …

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Tulsa’s Helmerich and Payne Reports $12 million Net Loss in 2Q

The second quarter of 2018 resulted in a $12 million net loss for Tulsa-based Helmerich and Payne. It amounted to a 12-cent a share loss.  The $12 million loss came from operating revenues of $577 million in the second quarter. President and CEO John Lindsay commented, “Second quarter operational results were strong and our team continued to …

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American Airlines CEO Expects Rising Fuel Costs to Impact Flyers

If you’re a frequent airline customer, you might brace for higher flying costs. It’s the claim of American Airlines CEO Doug Parker who says rising fuel costs are eating into airline profits. “If indeed this is where fuel prices are going to stay, I would expect you would see higher fares to consumers over time,” …

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Study Now Claims South Korea Quake in 2017 was Caused by “Fracking”

Not only do scientists believe oil and gas exploration is behind Oklahoma’s earthquakes but now a study concludes “fracking” associated with the exploration is what caused a deadly earthquake last year in South Korea. Eighty-two people were hurt in the 5.5 magnitude earthquake that rocked the city of Pohang.  As Newsweek reports, the scientists are …

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From Cowboys to Comstock for Jerry Jones

Dallas Cowboys owner Jerry Jones is about to become a controlling owner of Comstock Resources Inc., an energy firm based in Frisco, Texas. The company has announced it is buying Jones’ Bakken Shale interests in exchange for $620 million in company stock. Jones, whose Arkoma Drilling LP and Williston Drilling LP own the North Dakota …

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Siemens Gets New CEO in U.S. Operations

Siemens Corporation, the big manufacturer for wind farms across Oklahoma and the U.S. and engineering technology is under new leadership in the U.S. Barbara Humpton was promoted from CEO of Siemens Government Technologies, Inc. to be CEO for the United States operations of the company. Siemens works hand-in-hand with wind farm operators throughout Oklahoma and …

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Cypress Energy Partners Declares Cash Distribution

Tulsa-based Cypress Energy Partners, L.P. announced its board of directors of its general partner declared a cash distribution for the first quarter of 2018. The cash district is 21-cents per limited partner unit and is unchanged from the fourth quarter of 2017.  The distribution will be payable May 15 to all unitholders of record on …

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First Quarter Earnings for Phillips 66 totaled $524 million

Phillips 66 reported first quarter 2018 earnings of $524 million and adjusted earnings of $512 million. The Houston-based company with major operations in Bartlesville, Oklahoma compared the earnings to fourth-quarter 2017 earnings of $3.2 billion and adjusted earnings of $548 million. The $524 million in first quarter earnings amounted to $1.07 per share. The adjusted …

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Pension Fund Urges Chesapeake Shareholders to Vote for Climate Proposal

  A large state public pension fund with 2.7 million shares in Chesapeake Energy is asking investors to urge the company to provide timely disclosure of environmental and climate risks and to be more aware of the effects of global warming. CalPERS, the country’s largest state public pension fund with nearly $350 billion in total …

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Natural Gas Line Blast Injured Four in Town of Cleveland

Four persons are recovering from injuries suffered in a natural gas line explosion in the northeast Oklahoma town of Cleveland. It occurred Thursday afternoon near a Cash Saver store as city workers re repairing a gas line leak and the leaking gas ignited. Reports indicated that three of the workers suffered burns. “We could have …

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