October 2019 archive

Inhofe introduces his version of a defense spending bill

Oklahoma U.S. Sen. Jim Inhofe took to the Senate floor this week to introduce what he called a “skinny” version of the National Defense Authorization Act. It’s his plan to continue funding basics of the military and other national security operations. Inhofe’s move came as budget negotiations are still underway but approaching a deadline in …

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Strong 3Q results and increased earnings reported by ONEOK

Tulsa-based ONEOK, Inc. announced its third quarter 2019 financial results showing an 11 percent increase in net income. The company said its net income for the quarter was $309.2 million or 74 cents a share while adjusted EBITDA was $649.8 million, up 5 percent. Results were driven primarily by natural gas liquids (NGL) and natural …

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10-year sentence for defrauding Chesapeake Energy out of more than $4 million

A man who defrauded Oklahoma City’s Chesapeake Energy out of more than $4.3 million was sentenced to more than 10 years in federal prison this week in federal court. Justin Lane Foust of Sulphur had been convicted by an Oklahoma City federal jury in January of six counts of wire fraud, one count of aggravated …

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Energy firms among those contributing to Gov. Stitt’s campaign

Reports indicate that energy firms and groups, those in Oklahoma and those nationally, contributed to Oklahoma Gov. Kevin Stitt’s campaign in the most recent quarter. The governor raised $208,000 in the quarter that ran from July 1 through Sept. 30. He received $4,000 from Exxon-Mobil’s political action committee as well as $5,000 from the Oklahoma …

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Net income nearly doubled for Holly Energy Partners

The Dallas firm that owns and operates the oil refinery in Tulsa, Holly Energy Partners, L.P. reported a big jump in net income for the third quarter 2019. It was $82.3 million or 78 cents a share compared to $45 million and 43 cents a share in the third quarter of 2018. Distributable cash flow …

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Tallgrass Energy Reports Strong Third Quarter 2019 Results

  Based in the Kansas City suburb of Leawood, Kansas, midstream operator Tallgrass Energy reported a successful third quarter 2019. Net income was $72.5 million while adjusted EBITDA was $263.8 million and cash available for dividends totaled $210.5 million. The cash available for dividends translated to 75 cents a share or $2.20 on an annualized …

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Baker Hughes reports 3Q flat earnings but increased orders

Houston-based Baker Hughes Co. reported third quarter 2019 earnings totaled $5.9 billion but were down two percent compared to the previous quarter. But the earnings were still up 4 percent compared to the third quarter of 2018. Orders for the third quarter totaled $7.8 billion, up 19 percent from the second quarter and up 35 …

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PSO Sends Workers to California to Assess/Inspect Lines in Fire-Affected Areas

More than two dozen Public Service Company of Oklahoma employees are on their way to California to assist Pacific Gas & Electric (PG&E) address power outages associated with that state’s ongoing high winds and wildfire emergency. The employees from PSO’s Tulsa, Lawton and McAlester Districts will be arriving in Sacramento, then given their work assignments …

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Completion reports for October 29, 2019

Completion reports filed for October 29, 2019. CANADIAN COUNTY Red Bluff Resources Operating Llc Mississippian (less Chester)(7211): Oil 334 Gas 506 Water 2166 Pump 15 14N 5W Mcginnis 2-22mh, February 18, 2019 HH, OIL, TD: 12680 ft Lat: 35.68253, Long: -97.72404 API: 35017253350000 Red Bluff Resources Operating Llc Mississippian (less Chester: Oil 356 Gas 559 Water 1198 Pump 29 14N 5W Leon Treece 2-29mh, January 25, …

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Permits to drill for October 29, 2019

Permits to drill issued for October 29, 2019. Canadian County JOHNNY 1306 #1-14WH, October 29 2019 23 13N 6W SENWNWNW API: 01725550 Lat: 35.59297258337149, Long: -97.81464177629404 RED BLUFF RESOURCES OPERATING LLC HH, DR, 13200 ft, MISSISSIPPIAN(8047), WOODFORD(8299), HUNTON(8376) Grady County GALVIN #6-27-22-15XHW, September 23 2019 27 6N 5W NENENWSE API: 05124723 Lat: 34.96367991562499, Long: -97.71077763125 CONTINENTAL RESOURCES …

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