September 11, 2019 archive

Even small acquisitions have to be reported to the SEC

Anytime corporate leaders at ONEOK acquire or dispose of shares in the company, they are required to report it to the Securities Exchange Commission—no matter how big or how small. This week, three corporate executives made filings with the SEC showing how each acquired 2 shares in the company. Each share was valued at $73.67. …

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T-Boone Pickens dead at 91

As much as he liked the color of oil—black—-legendary oilman T-Boone Pickens liked one other color maybe more… as in Oklahoma State University orange. Pickens, the man known as the Oracle of Oil died on Wednesday at his Dallas home. He was 91 and had been ailing since suffering some strokes in 2016, but still …

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Oklahoma leads the nation in delisting polluted streams

A state agency is boasting of its accomplishments in creating improved conditions of lakes and streams in Oklahoma. It comes as Oklahoma is number one nationally in eliminating polluted streams. The Oklahoma Conservation Commission’s (OCC) Water Quality Division this week in delivering its 2019 Oklahoma Nonpoint Source (NPS) Success Stories to the Conservation Commission announced 12 new stories and …

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Devon Energy declares quarterly dividend

Oklahoma City’s Devon Energy Corp.  announced Wednesday that its board of directors has declared a quarterly cash dividend on Devon’s common stock for the fourth quarter of 2019. The dividend is payable on Dec. 27, 2019, at a rate of $0.09 per share based on a record date of Dec. 13, 2019.  

Indictments are made over Oklahoma firm’s power contracts in Puerto Rico

A former President of a subsidiary of Oklahoma City’s Mammoth Energy Services was indicted on bribery charges this week along with two FEMA officials in connection with the power restoration on Puerto Rico following Hurricane Maria. Prosecutors contend bribes were offered in order for the company to obtain nearly $2 billion in contracts to restore …

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Oklahomans split votes on energy bills in the House

Oklahomans in the House split their votes this week on two energy bills. The House approved the Diesel Emissions Reduction Act of 2019, also known as H.R. 1768 on a vote of 295-114. Known as DERA, the act was originally approved in 2005 to fund federal and state loan programs to rebuild diesel-powered vehicle engines …

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GE sells $2.5 billion in Baker Hughes stock—loses majority ownership

Houston oilfield service giant Baker Hughes is poised to become an independent company again. And it could mean a change in the name of certain BHGE operations, even those in Oklahoma. Boston industrial conglomerate General Electric will lose its majority ownership of Baker Hughes in a planned stock sale that could be worth more than …

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Rep. Cole says US must defend allies from Chinese threats

Oklahoma Congressman Tom Cole revealed he spent part of August traveling to Japan, Singapore, Australia and Fiji as part of a delegation on foreign policy and defense issues. In a newsletter this week to his 4th district constituents, the Republican Representative explained it was a bipartisan delegation of lawmakers from the House and Senate. They …

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Trial approaches for Chinese national charged in theft from energy lab

As the criminal trial approaches of a Chinese National accused of stealing nearly $1 billion in technology from the Phillips 66 research center in Bartlesville, last-minute preparations are underway in U.S. District Court in Tulsa. The latest hearing on criminal charges against Tongjin Tan was held last week before federal judge Gregory K. Frizzell. It …

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Multi-well site reported by Chaparral in Kingfisher County

The same week that Oklahoma City’s Chaparral Energy sold its headquarters, the company filed a completion reports showing production of 1,100 barrels of oil a day from a four-well pad in Kingfisher County. All four of the King Koopa 1606 wells were drilled in July of 2018 and completed in December 2018 in the STACK. …

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