November 20, 2018 archive

Devon among major energy companies pledging $100 million in aid to New Mexico and Texas to ease oil boom problems

Oklahoma City’s Devon Energy is one of 17 major companies exploring in the Permian Basin to offer $100 million in aid to Texas and New Mexico because of challenges caused by the oil boom in the two states. Dave Hager, chairman of Devon Energy was one of those who signed a letter creating the Permian …

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Oklahoma oil and gas explorer makes $1.6 billion purchase in Denver

It’s a $1.6 billion purchase of one Denver-based oil and gas company by another. And the buyer is a well-known operator in western Oklahoma. Cimarex Energy announced this week it’s buying rival Resolute Energy and the purchase includes debt. But it also adds more assets in the shale-rich Permian Basin for Cimarex. Cimarex is known …

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Sliding oil prices result in $1 trillion loss by oil and gas sector around the globe

Those tumbling oil prices of the past 40 days have resulted in a $1 trillion loss by the oil and gas sector. Crude prices in New York commodity markets slid more than 25 percent during the 40-days when prices began falling in early October. Last week ended with a re cord 12th straight day of …

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New Orleans law firm wants investigation of Chesapeake’s $4 billion purchase of WildHorse Resource Development

Chesapeake Energy’s nearly $4 billion purchase of Houston-based WildHorse Resource Development Corp. is the focus of a call for an investigation by a former Louisiana Attorney General. The call is made by Charles C. Foti, Jr. and the law firm of Kahn Swick and Foti in New Orleans. The two announced this week they are …

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FedEx gets electric trucks—thanks to a Chinese manufacturer

  Some of those FedEx delivery trucks you see driving around Oklahoma might soon be electric vehicles….courtesy of China. The company announced this week it’s expanding its fleet by adding 1,000 Chanje V8100 electric delivery vehicles. FedEx is buying 100 of the vehicles from Chanje Energy Inc. and leasing another 900 from Ryder System, Inc. …

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Minerals company wants new leadership

  Kansas City-based Compass Minerals International Inc. is looking for a new president after Fran Malecha apparently was let go in a decision by the board of directors. Malecha joined the company six years ago as CEO and President but his departure, according to a company announcement and a report in the Kansas City Business …

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ONEOK borrows $1.5 billion

  ONEOK, Inc. announced that it has entered into a $1.5 billion three-year unsecured term loan agreement that will be used for general corporate purposes, which may include repayment of existing indebtedness and funding of capital expenditures. This term loan was upsized to $1.5 billion from $1.25 billion as a result of strong demand. “As we execute on our more than $6 …

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Permits to drill for Nov. 19, 2018

No permits to drill were issued for Nov. 19, 2018.

Completion reports for Nov. 19, 2018

No completion reports were filed for Nov. 19, 2018.

Boeing makes $70,000 grant to Oklahoma State University-OKC

Aircraft manufacturer Boeing has made a $70,000 contribution to OSU-OKC for use at the Dove Science Academy. The concurrent enrollment program delivers high-quality, college-level courses and creates a pathway for highperforming, motivated Dove Science Academy students to gain college credit from Oklahoma State University Oklahoma City (OSU-OKC) while in high school. In 2017, Boeing contributed $60,000 …

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