February 28, 2019 archive

Senate confirms Wheeler as Scott Pruitt’s successor as EPA Administrator

  The U.S. Senate on Thursday confirmed former coal lobbyist Andrew Wheeler to be the new administrators of the Environmental Protection Agency, replacing Oklahoman Scott Pruitt who stepped down amidst political charges. Wheeler, once an aide to Oklahoma U.S. Sen. Jim Inhofe was confirmed by a vote of 52 to 47. Democrats opposed him because …

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Colorado Oil tycoon goes to court to convince a judge he is owed $400 million by his family

  Oil tycoon Jack Grynberg lost his court fight to control his companies.             He’s 87 and thinks he should control the oil kingdom he created. The story involves Denver oil tycoon Jack Grynberg who is in court trying to convince a judge his family owes him nearly $400 million …

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Key Energy expects to bounce back in 2019 from 2018 reported financial losses

With major operations in Oklahoma, Houston-based Key Energy Services, Inc. reported fourth quarter 2018 consolidated revenues of more than $117 million and a net loss of $23.1 million. Company leadership blamed the losses on a slowdown in oilfield activity in 2018 and the decline in oil prices. The loss figured to be $1.14 per share …

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Enel Green Power begins work on large solar farm in West Texas

      Enel Green Power North America, the company that made $2.7 billion dollars in investments in wind power in Oklahoma just started work this week on a massive solar plant in Upton County, Texas. Once completed, the 497 MW Roadrunner plant will be the largest solar facility in the company.s U.S. portfolio. It is also …

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Cheniere Energy gets approval to begin work on 200-mile Oklahoma pipeline

Houston’s Cheniere Energy finally has received the go-ahead to begin construction on its more than $1 billion Midship natural gas pipeline in Oklahoma. On Wednesday, the U.S. Federal energy Regulatory Commission authorized Cheniere to start construction on about 13 miles of the 234-mile line that will carry natural gas from near Kingfisher south to the …

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Chesapeake trading shot up after release of earnings report

Wall Street certainly liked what Oklahoma City’s Chesapeake Energy reported this week about its earnings. Trading showed a nearly 10 percent increase as of Wednesday. Here’s how The Street reported the reaction. Rising natural gas prices were a tailwind for Chesapeake Energy (CHK – Get Report) in the fourth quarter as the company topped analysts’ expectations …

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Cheniere Energy takes former chairman to court

Cheniere Energy Inc, the largest U.S. liquefied natural gas exporter and the firm building a 200-mile pipeline across Oklahoma went to court this week suing its former chairman and chief executive Charif Souki. The company accused him of conspiring to help finance a joint venture that led to the formation of Cheniere’s LNG rival Tellurian …

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CorEnergy reports 4Q dividend and year-end financial results

  Kansas City-based CorEnergy Infrastructure Trust, Inc. reported net income of $34.1 million for 2018 or $2.79 per diluted share. The Company also announced a fourth quarter 2018 dividend of 75 cents a share which was in line with the previous 13 quarterly dividends. In December, the firm sold its Portland Terminal and its remaining …

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Sale of shares by OGE directors reported to SEC

  Filings with the Securities Exchange Commission were made this week  by Oklahoma Gas and Electric reflecting the disposal of shares by three directors. Jean C. Leger Jr. who is Vice President of Utility Operations disposed of 20,374.8446 shares valued at $42.24 each. Jerry A. Peace, the company’s  Vice President of Integrated Resource Planning and …

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ONEOK’s annual shareholders meeting to be held in May

Tulsa-based ONEOK, Inc. announced its annual shareholders meeting will be held Wednesday, May 22, 2019. It will begin at 9 a.m. and also be audio webcast on ONEOK’s website, www.oneok.com. The record date to determine shareholders entitled to receive the notice of the meeting and to vote is March 25, 2019.