** Six American oil executives under house arrest in Venezuela were rounded up by police hours after President Donald Trump met Venezuelan President Nicolás Maduro’s chief opponent at the White House, according to family members of the men. Alirio Zambrano said early Thursday that the executives of Houston-based Citgo were abruptly taken from their homes last night …
February 2020 archive
$28 million quarterly loss reported by Matrix
Tulsa-based Matrix Service Company reported a $28 million loss in the second quarter of its fiscal year and as a result, the company’s stock price dropped 35% on Wall Street. Revenue for the second quarter totaled $318.7 million compared to $340.6 million a year earlier. The loss amounted to $1.04 per share compared to earnings …
Eastern Colorado power line is finished and operational
A transmission line to bring electricity powered by wind farms in eastern Colorado became operational this week providing electricity for the Denver area. Xcel Energy, the largest utility in Colorado announced completion and energization of the 345-kilovolt Pawnee-Daniels Park transmission line located near Brush, Colorado. The Pawnee-Daniels Park transmission line runs 125 miles between the …
Investor in lines feeding Cushing backs off putting money in midstream operations
The growing list of investors hesitant to put their money into the oil and gas industry now includes Energy Capital Partners LLC. The New Jersey based firm, with investments in crude oil pipelines and rail systems that feed the Cushing storage farm is pausing new pipeline deals, according to a Bloomberg report. The private-equity firm’s …
$2 billion wind farm plan proposed by AEP and PSO
American Electric Power Co. Inc., one of the nation’s largest utility companies and highest-profile emitters, is facing yet another multibillion-dollar test to see how fast it can shift from coal to renewables. This time, it looks like AEP might succeed according to a report by Energy Wire. A roughly $2 billion proposal in the …
ODOT awards $144 million in new highway contracts including more for I-35 repairs
The Oklahoma Department of Transportation Commission has awarded $144 million in 36 contracts for highway repairs and improvements in 28 counties. Drivers should also get ready for more construction slowdowns on Interstate 35. Contracts were awarded for projects in Alfalfa, Blaine, Carter, Cleveland, Custer, Dewey, Garvin, Haskell, Johnston, Kay, LeFlore, Logan, Love, McClain, McCurtain, McIntosh, …
Appeals court rules against injured railroad conductor
The Denver federal appeals court has ruled against a conductor who was injured on the job in Oklahoma while he worked for BNSF Railway company. George Ezell filed suit after he was injured in 2014 while inspecting 20 ballast-loaded railcars. He was instructed to climb railcar ladders to determine which cars were more than half …
Transmission line developer adds rural broadband expansion in Missouri
The company building the proposed Grain Belt Express Clean Line Project to carry western Kansas wind-powered electricity to Illinois and Indiana is hoping its latest move will attract more support. Invenergy has launched an initiative to include an expansion of rural broadband service in northern Missouri. Invenergy said it would include broadband infrastructure along the …
Peak production only a few years off in Permian and Bakken?
Peak production of some of the major shale fields in the U.S. might be only a few years away, predicts shale pioneer John Hess. Speaking recently at the Argus Americas Crude Summit in Houston, Hess, CEO of Hess Corporation said he believes peak production in the Bakken might only be two years away. He said …
Completion reports for February 6, 2020
Completion reports filed for February 6, 2020. CADDO COUNTY Citation Oil & Gas Corporation 35 6N 10W West Cement Unit 9-22, February 07, 2019 SH, INJ, TD: 3810 ft Lat: 34.94925, Long: -98.21909 API: 35015232580000 CANADIAN COUNTY Travis Peak Resources Llc Mississippian(8914): Oil 760 Gas 2908 Water 344 Flow 35 12N 6W Stejskal 1h-35, August 25, 2018 HH, OIL, TD: 13453 ft …