May 2, 2018 archive

Oklahoma Senate Approves Another Anti-Energy Tax Credit Bill

  A Wednesday vote by the Oklahoma Senate has only shored up the state’s image of targeting some of Oklahoma’s new energy industries. Without debate on Wednesday, the Oklahoma Senate adopted a restriction on the olar  industry, passing a bill to extend indefinitely a $25 million cap on tax credits to solar energy operators. Sen. …

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Wind Industry Company Seeks More Texas Approval of Upgrades

Xcel Energy announced this week it is seeking Texas approval for $65 million in power grid upgrades in the Texas Panhandle. Lamb and Bailey counties are located southwest of Amarillo. Xcel Energy said the improvements are meant to relieve overloaded lines and make way for future economic expansion in the region. One of the new …

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Deadline’s Here for Petition Drive to Probe Claremore’s use of Smart Meters

The deadline for a petition drive to investigate the city of Claremore’s finances over smart meter technology is this week. The Tulsa World reported Shelly Taylor had until Thursday to obtain 986 registered voters to sign her petition calling for the investigation. She has claimed misappropriation and “possible irregularities” in the city budget. Her petition …

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Chesapeake Reports Best Quarterly Performance in 3 Years

With a 16 percent increase in oil production in the first quarter of 2018, Oklahoma City’s Chesapeake Energy reported quarterly net income of $268 million or 29 cents a diluted share. The company said its first quarter net cash provided by operating activities increased $557 million compared to one year ago. The company was able …

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Devon Increases Expectations Based on Historic Oil Production

Oklahoma City’s Devon Energy Corp. reported its first quarter 2018 earnings included an operating cash flow of $804 million but a net loss of $197 million due to the early retirement of $312 million debt. However, the company said the core earnings were still $108 million or 20 cents a diluted share for the quarter. …

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Enable reports 1Q Drop in Income but Improved Natural Gas Volume

Oklahoma City’s Enable Midstream is reporting net income to limited partners of $114 million in the first quarter 2018 operations, a drop of $6 million from a year ago. Net income to common units also dropped, totaling $105 million, down $6 million reported for the first quarter of 2017. Still, the company said it achieved …

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Democrats Out for Blood at EPA

Former SpiritBank leader Albert Kelly wasn’t the only top EPA official to resign this week amidst growing ethics investigation at the agency led by former Oklahoma Attorney General Scott Pruitt. And it’s clear Democrats on Capitol Hill are out for blood. So did Pasquale “Nino” Perrotta, a former Secret Service agency who was head of …

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HollyFrontier reports Huge Jump in Earnings from One Year Ago

With a refinery in Tulsa and another in El Dorado, Kansas, HollyFrontier Corporation based in Dallas, Texas is reporting first quarter net income of more than $268 million. It translates into a $1.50 per diluted share for stockholders. The $268.1 million compares with the net loss of $45.5 million reported one year ago. The company …

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Devon Reports 1,700 Barrel a day Oil Well near Hitchcock

One of the latest large wells to be completed in Oklahoma’s STACK was drilled by Devon Energy in Blaine County, one of the three main counties making up the oil play. Devon recently filed a completion report on the Sonoyta 23_2-17N-10W2HX, a well that produced 1,702 barrels a day on its initial testing in mid-February. …

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States Sue to Prevent EPA Rollback of Car Emissions Rules

Seventeen states have banded together to file a lawsuit challenging the EPA for reversing car emissions rules.  Oklahoma is not one of them. The suit was filed over the Environmental Protection Agency’s recent decision to drop clean car emissions standards for model years between 2022 and 2025. It accuses the EPA of failing to follow …

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