February 26, 2020 archive

Report claims Williams is looking for a big investor in its pipelines

  Williams Companies in Tulsa calls it nothing but a rumor and tries to downplay it, but Reuters reports the company is intent on finding a partner to invest in its pipelines, a move that could theoretically raise $5 billion for the company. Reuters attributed its information from “people familiar with the matter.”   The …

Continue reading »

SandRidge reports $249 million 4Q loss

  SandRidge Energy leader John Suter was up front about his Oklahoma City company’s 2019 earnings performance. It wasn’t good. He described it as a “challenging year” after the company announced a fourth quarter net loss of $249 million or $7.01 per share. The adjusted net loss was $4 million or $0.11 a share even …

Continue reading »

WPX Energy reports 70% jump in 2019 earnings but a loss in 4Q

Tulsa’s WPX Energy reported a $121 million fourth quarter 2019 loss or $0.29 per share from its operations even after a 16 percent increase in oil volumes. It also intends to push forward with a $400 million repurchase of WPX shares. The company said its total 2019 net income of $256 million was 70% higher …

Continue reading »

Senate confirms deputy Interior Secretary

Oklahoma U.S. Sens. Jim Inhofe and James Lankford voted Tuesday in support of the confirmation of Katharine MacGregor to be deputy Interior secretary. Her confirmation came on a 58-38 vote with five Democrats voting in support of her nomination by President Trump. MacGregor also secured support from Florida Sen. Marco Rubio, who had placed and then …

Continue reading »

ExxonMobil reaches $1 million storage tank leak settlement in New Mexico

ExxonMobil will contribute $500,000 to a fund used to clean up leaks from petroleum storage tanks as part of a settlement reached with New Mexico. The  Associated Press reports the settlement stems from a 2010 lawsuit that alleged the company used money from the state Corrective Action Fund to clean up petroleum contamination at a …

Continue reading »

Construction begins on mega-wind farm in eastern New Mexico

  Minneapolis-based Xcel Energy has poured the first 66 foundations for what will be a 240-turbine wind farm southeast of Portales, New Mexico with a capacity of 522 megawatts. Xcel is the primary electricity provider in six Eastern New Mexico counties that include the cities of Roswell, Clovis, Hobbs and Carlsbad. The Sagamore wind farm …

Continue reading »

Energy news in brief

** The Federal Trade Commission said Wednesday it has filed a complaint challenging a proposed joint coal mining venture by two of the world’s biggest coal producers, both based in St. Louis, who said they plan to continue to pursue the deal. Peabody Energy and Arch Coal announced in June that they had agreed to combine …

Continue reading »

Electric utilities want congress to address climate change

The nation’s 2,000 community-owned electric utilities agreed for the first time this week that Congress needs to take action to address climate change. And dozens of Oklahoma utilities are a part of the agreement. The American Public Power Association, meeting in Washington, unanimously approved a resolution in support of current bipartisan efforts to reach a …

Continue reading »

STACK reveals another big producer for Devon Energy

One of the most recent significant producing oil wells was reported this week in Oklahoma’s STACK play by Devon Energy Production Co. LP. The Everett 12_1-15n-11w 2hx had production of 1,578 barrels of oil a day in addition to 3,315 Mcf of natural gas. The well is located at 12 15N 11W or about 6 …

Continue reading »

Surprise retirement at German company that produces Roundup weed killer

The man who was behind Bayer’s $63 billion takeover of U.S. based Monsanto plans to step down in April, even as his company struggles with countless lawsuits filed over the weedkiller Roundup. Some of those lawsuits were filed by Oklahomans who contend their use of Roundup led to the cancer they suffer. Werner Wenning announced …

Continue reading »