September 19, 2019 archive

Supreme court rules against surface owner in drilling damage lawsuit

  The Oklahoma Supreme Court has overturned a State Civil Appeals Court and upheld a District Court ruling in a legal fight involving surface damages caused by the drilling of a well in Canadian County. The Supreme court issued its ruling in the 2017 lawsuit filed by Talen Paul Hobson against Cimarex Energy Company. He …

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Blackstone would sell investment in Cheniere Energy if the price were right

Blackstone Energy Partners, the private equity firm with 202 million shares in Houston’s Cheniere Energy Inc. is suggesting it might be willing to sell its 41% stake in the company. Cheniere Energy is finishing a $1 billion pipeline in Oklahoma. Blackstone’s 41% share of the company is valued at $9.7 billion. Blackstone’s leader David Foley …

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$145 million privately negotiate stock deal revealed by Chesapeake Energy

Oklahoma City-based Chesapeake Energy Corporation revealed this week it entered into a total of $145 million  in privately-negotiated securities exchange agreements. In a Form 8-K filed with the U.S. Securities and Exchange Commission, the company said the agreements were executed between Sept. 13 through Sept. 18, 2019. The agreements showed the company issued or agreed …

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OGE wins rate case before Oklahoma regulators

The Oklahoma Corporation Commission agreed on Thursday to an order allowing Oklahoma Gas and Electric Co. to recover an estimated $600 million in environmental improvements to some of its coal-fired electric generating plants. The order also means no change in electrical rates for OGE customers. Commissioners Dana Murphy and Bob Anthony voted in support of …

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Senator Inhofe defends cheeseburgers attacked by Green New Deal

Tweeted by Oklahoma U.S. Sen. Jim Inhofe on Wednesday: “In Oklahoma, as one of the top producers of beef, we appreciate our cheeseburgers. But they-& our economy-are under attack. The liberal Green New Deal calls for eliminating beef production, taking away our cheeseburgers. That’s just wrong & un-American. #NationalCheeseburgerDay”

New Mexico state regulators face removal attempts

The elected members who make up the New Mexico Public Regulation Commission find themselves under fire over what might be called “slow walking” the state’s plan to switch from coal to renewable power. A report by Searchlight New Mexico, an independent investigative journalism group explored the politics of the issue and concluded dysfunction and a …

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Federal judge halts enforcement of anti-pipeline protest law in South Dakota

A new law by South Dakota aimed against Keystone XL pipeline protesters has been put on hold by a Federal Judge. U.S. District Judge Lawrence Piersol granted a preliminary injunction this week in a lawsuit filed against Gov. Kristi Noem and Attorney General Jason Ravnsborg. The suit filed by the American Civil Liberties Union contends …

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Struggling Weatherford cuts 5-year equipment deal with Aramco

While Weatherford International is in the process of reorganizing its debt and bankruptcy, the company has made a five-year equipment deal with Saudi Aramco. The two companies announced the deal  this week but financial terms were not disclosed. Weatherford described the deal as a five-year corporate procurement agreement to deliver cementation, completions, liners, solid expandables …

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Might be 4 years before new Air Force KC 46 is combat ready

The retirement of those KC-135 tankers that fly over Oklahoma might not be happening as the Air Force originally thought. Now a top general says it might be another three to four years before the new replacement, the KC-46 is fully battle-ready. The first of the planes arrived earlier this year at Altus Air Force …

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Latest producers are in Blaine and Grady counties

While Marathon Oil was reporting a 1,000 barrel a day oil well in Blaine County this week, Continental Resources did the same thing with two wells at a site in Grady County. Marathon Oil of Houston reported the Roser 1611 2-3-34mxh well located at 3 16N 11W or about 4 miles northeast of Watonga had …

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