March 1, 2019 archive

Drone-maker buys Oklahoma engine maker

Drone-maker Kratos Defense and Security Solutions, the firm that moved operations last year from California to Oklahoma City has made a nearly $60 million acquisition of a majority interest in an Oklahoma small-engine company. Kratos ended up with 80.1 percent interest in FTT Core LLC and Florida Turbine Technologies Inc. which owns Consolidated Turbine Specialists. …

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Oklahoma wind farm operators to face annual state fees

Wind farm operators in Oklahoma might have to start making a $2,000 annual payment to the state following the adoption of wind fee rules by the Oklahoma Corporation Commission. The $2,000 fee is for each facility and will fund oversight responsibilities for the commission. But the wind farm operators will also be charged $5,000 whenever …

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Drilling company fights Judge’s order in lawsuit over deadly 2018 rig fire

Published reports show Patterson-UTI is fighting a court decision in the lawsuit filed over the January 2018 rig explosion and fire that killed five workers in Pittsburg County. The McAlester News reported that attorneys for the company filed an appeal over a judge’s denial for a protective order to prevent depositions of two Patterson company …

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Argonaut Private Equity invests in Mammoth Carbon Products

The Tulsa-based private equity fund Argonaut Private Equity announced it has made a major investment in Mammoth Carbon Products, a Houston-based pipeline distribution company. Mammoth is considered an industry leader in carbon steel pipe distribution and services for the energy infrastructure markets. Established in 2014, Mammoth currently services the North American market focusing in Texas …

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NGL wraps up $239 million sale of water assets

  Tulsa-based NGL Energy Partners LP announced it’s wrapped up its sale of its South Pecos Water Disposal Assets in a nearly $239 million deal. The buyer is a subsidiary of WaterBridge Resources LLC. NGL plans to use some of the cash proceeds to fund its previously announced acquisition of DCP Midstream LP’s wholesale propane …

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Shares sold by OGE executive

Another filing by OGE with the Securities and Exchange Commission reflects a change in ownership of company shares. OGE’s Vice President of Sales and Marketing, Kenneth R. Grant sold 1,500 shares valued at $42.195 each. The Feb. 27, 2019 transaction left him with more than 14,000 shares through direct and indirect ownership.

Devon Energy SEC filing shows acquisition of shares

A filing with the Securities and Exchange Commission by Oklahoma City’s Devon Energy shows the acquisition of more shares by one board member. Director Robert H. Henry acquired 11,651 shares, according to the SEC document. Each share was valued at $30.01 and the acquisition was made Feb. 27, 2019. It gives him a total of …

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PSO’s rate hike to be heard by OCC

The Oklahoma Corporation Commission meets Monday to hold a hearing on the proposed $46 million settlement of PSO’s original request for an $88 million rate increase. The settlement was announced several days ago and today during the Commission’s regular meeting, an Administrative Law Judge will hold a hearing on the proposal. Under the agreement, the …

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Enerstream Water Solutions announces major water availability for Oklahoma’s STACK

Enerstream Water Solutions, a nearly year-old startup energy company based in Oklahoma City has partnered with Dolese Bros. Co., creating what is likely the largest fresh water storage source for oil and gas drillers in northwest Oklahoma. “I’m not aware of another fresh water solution in the Oklahoma market, the SCOOP or the STACK that comes …

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Tulsa company finds success in Blaine County

  Tulsa’s Triumph Energy Partners Inc. filed a completion report this week on a well showing oil production of more than 1,300 barrels of oil per day. The Gore 1-25-36 1810MHX was spudded in November of 2017 and drilling ended in February of 2018. Completion was made in April of 2018 but the report wasn’t …

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