The board of directors of Magellan Midstream Partners, L.P. in Tulsa has declared a quarterly cash distribution of $1.0275 per unit for the period Jan. 1 through March 31, 2020. The first-quarter 2020 distribution is 2% higher than the first-quarter 2019 distribution of $1.005 per unit and consistent with the fourth-quarter 2019 amount. “During this …
Refinery operator Holly Energy Partners, L.P. declared a 35-cent a unit cash distribution for the quarter, nearly half of what it was in the previous quarter. Owner of a refinery in Tulsa as well as El Dorado, Kansas and others the company said the first quarter 2020 distribution will be paid May 14 to unitholders …
Reports indicate Oklahoma City-based Continental Resources Inc. has shut down most of its oil production in North Dakota after telling at least one refiner the company could not make an oil delivery because of the oil crisis. Bloomberg reported that the company declared a force majeure on one of its contracts earlier in the week …
Cheniere Energy, Inc., operator of the Midship pipeline that recently won FERC approval to begin shipping natural gas from Kingfisher, Oklahoma south to the state line says its upcoming annual meeting will be a virtual meeting online because of the COVID-19 pandemic. The company said the meeting will not be in person out of concern …
After filing Chapter 11 bankruptcy, Denver’s Whiting Petroleum Corporation announced it’s entered into a restructuring support agreement with holders of its convertible senior notes. The agreement applies to holders of the 1.25% convertible notes due this year, 5.750% notes due in 2021, 6.250% notes due 2023 and 6.625% notes due 2026. In addition, the Company …
Wyoming’s Powder River Basin isn’t an area known only for growing oil production that attracted some major oil and gas drillers from Oklahoma, but its coal industry has been a major player for decades. However, the coal industry in Wyoming is hurting. Just ask the hundreds who have lost their jobs in the past several …
From Cushing in northern Oklahoma to the Permian Basin in Texas and New Mexico, the talk is growing of how to quickly expand crude oil storage capacity, whether it’s more massive tanks at Cushing to underground caverns in the Permian. The North American energy sector is weighing options from building new tanks farms to …
Tulsa-based Alliance Resources Inc. isn’t the only major U.S. coal company to lay off workers and suspend some of its mining operations in the Midwest and the East. It is one of many faced with making the same difficult decisions because of the coronavirus pandemic and the lack of demand for fuel to power facilities. …
** In response to a recent Keystone XL court ruling, the U.S. Army Corps of Engineers suspends a program that has been used for decades to approve stream and wetland crossings for pipelines, power lines and other utility projects. ** The Navajo Transitional Energy Company and Peabody Energy announce layoffs of 300 miners at three Powder River Basin mines. ** Morgan Stanley …
Ovintiv Mid-Continent Inc. made it a third well drilled at a Stephens County pad making combined production totaling nearly 1,600 barrels of oil a day. The third completion report was filed Friday with state regulators, showing the Mary J-2-4 well drilled at 24 2N 4W, west of Elmore City, had production of 549 barrels of …
