January 24, 2020 archive

Oilman’s Houston home sale price cut by $5 million

The Houston Chronicle reports the River Oaks home of energy mogul and legendary wildcatter Gene Van Dyke has seen a series of price reductions over the past several years. The latest?  More than $5 million. It hit the market at $14.5 million in 2013 but was temporarily removed and then re-listed in 2016 for $10.5 million, according to …

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More testimony is heard in lawsuits over deadly well fire

Houston’s National Oilwell Varco continues putting on witnesses in defense of lawsuits filed over the January 2018 well explosion and fire that killed 5 workers at a gas rig site near Quinton, Oklahoma. The trial started earlier in the month in Pittsburg County District Court in McAlester. Here is how the McAlester News Capital reported …

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Tallgrass leadership to remain mum about quarterly results

  The company will release the results on Wednesday, February 12, 2020. However, Tallgrass leadership will not hold a conference call to discuss the results. The conference call issue was part of the merger agreement with Blackstone Infrastructure Partners. As part of the agreement, Tallgrass also agreed not to pay dividends until the merger is …

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Dividend declared by NGL Energy Partners

  NGL Energy Partners LP in Tulsa  announced that the Board of Directors of its general partner has declared a quarterly distribution of $0.39 per unit, or $1.56 per unit on an annualized basis, for the quarter ended December 31, 2019 . This cash distribution is payable on February 14, 2020 to common unitholders of …

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State loans millions of dollars to towns for water improvements

Millions of dollars have been approved this month for loans to small towns across Oklahoma to make water improvements. One of the largest loans totaled $2,359,000 to the Roland Utility Authority in Sequoyah County in eastern Oklahoma. The loan was made by the Oklahoma Water Resources Board’s Oklahoma Drinking Water State Revolving Fund. City leaders …

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Obama’s WOTUS is repealed

The fight over the Obama-era Waters of the United States rule, the one fought by Oklahoma farmers and ranchers and the state’s congressional delegation might be finished. The release of the new WOTUS rule by the Environmental Protection Agency drew some hearty support from Oklahoma U.S. Sen. Jim Inhofe and Rep. Frank Lucas who at …

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Survey finds region’s manufacturing activity nearly flat in January

A survey by the Federal Reserve Bank of Kansas City shows manufacturing activity in the region for January in Oklahoma and other states was nearly flat. But Chad Wilkerson, vice president and economist at the bank said the survey also revealed that Tenth District expectations for the future activity had expanded. “Regional factory activity was …

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Hedge fund urges Evergy to overhaul leadership or sell

  A New York hedge fund is urging a leadership change at Kansas City-based Evergy Inc. and if it doesnt, then consider being sold or merging with another company. The recommendation is from activist investor Elliott Management Corp. which has a $760 million stake in the Midwest utility. Run by billionaire Paul Singer who has …

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Increased drilling in Oklahoma’s SCOOP

  Oklahoma’s SCOOP is seeing increased exploration as a handful of companies won permits to drill in the past week from state regulators. Stephens and Johnson Operating Company won permits to drill two different pairs of sister wells near Velma in Stephens County. Two permits were for the McClanahan-Martin #4 wells to be drilled at …

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More than 40 wells reported completed by Chisholm Oil and Gas

Tulsa’s Chisholm Oil and Gas Operating LLC unloaded 42 completion reports in the past week with Oklahoma regulators. Why the company waited to file the dozens of reports isn’t known. But Chisholm, a company whose website proclaims only three operational rigs turned out the wells in the STACK play. The wells ranged in oil production …

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