August 4, 2020 archive

Major transmission lines gets first-step approval in Wyoming

  Wyoming’s largest utility company, PacifiCorp. won the first step in eventual construction of a 416-mile long transmission line to carry wind-powered electricity to Utah. The Casper Star Tribune reported that the Carbon County Planning and Zoning Commission unanimously approved this week a recommendation of approving a permit for construction. PacifiCorp. has proposed building a …

Continue reading »

Noble Energy reverses Colorado well shut-ins after big second-quarter losses

  Colorado’s second largest oil producer, Noble Energy has reopened the producing wells it shut-in during April and May. The Houston-based company indicated in its second quarter financial earnings report that 80% of its well shut-downs occurred in Colorado’s D-J Basin. During the quarter, the D-J Basin production was 144 MBoe/d and the company operated …

Continue reading »

Valero Energy reports 2Q profit

  San Antonio’s Valero Energy Corp. reported a second quarter profit as the company said its reported net income to stockholders was $1.3 billion or $3.07 a share. The amount compared to net income of $612 million or $1.47 a share in the second quarter of 2019. However, the reported adjusted net loss attributable to …

Continue reading »

Bloomberg—hire jobless oil and gas workers to target climate change

  Former Democratic presidential hopeful and New York City Mayor Michael Bloomberg says the U.S. should attack the climate change crisis by hiring thousands of laid-off oil and gas workers. Here’s how he presented his plan this week in a Bloomberg Opinion: — As Congress debates how to address the economic calamity we are facing, …

Continue reading »

Hertz must offload almost 200,000 cars by the end of 2020 as part of its bankruptcy deal

  Hertz, the car rental company that closed its operations in Oklahoma earlier in the year before filing for bankruptcy has a problem—how to get rid of 182,521 cars. But it might present some “good” deals for car buyers. The Associated Press reported that Hertz must somehow unload the cars because it was part of …

Continue reading »

More jobs expected as result of KC-46 tanker expansion at Tinker AFB

  The arrival of the KC-46 Pegasus air refueling tanker in the Air Force means more jobs and construction at Tinker Air Force Base in Oklahoma City. As Inside OKC reported, the work on the Oklahoma City Air Logistics Complex is resulting on a positive impact on the state’s economy. The massive program, which began …

Continue reading »

Acquisition target Noble Energy reports 2Q loss

  Noble Energy, Inc., the company set to be acquired by Chevron later this year, is out with its second quarter earnings report showing a $408 million or 85 cent a diluted share loss. Excluding items impacting comparability, the Company generated adjusted net loss and adjusted net loss per share attributable to Noble Energy for the quarter of $114 …

Continue reading »