A $77 million project to widen Interstate 40 from near Midwest City to Shawnee has been announced by the Oklahoma Department of Transportation. As The Oklahoman reported Wednesday, the interstate will be widened to six lanes from the Oklahoma-Pottawatomie county line to U.S. 177 in Shawnee—a distance of 7.5 miles. Work on the widening …
** Following a $16.8 billion quarterly loss, BP says it will cut oil production 40% by 2030 and invest more in renewable energy, an announcement one climate advocate says “has radically changed the game.” ** Exxon Mobil Corp told employees it would begin suspending the employer match to retirement savings plans beginning in early October, said sources who …
In what was considered a small step, the Texas Railroad Commission has voted to slowly make changes toward the reduction of the flaring of excess natural gas from producing wells. Texas regulators on Tuesday moved forward with proposed administrative changes that are expected to become part of a broader effort to tackle the years-long problem …
Gross Receipts to the Oklahoma Treasury jumped by more than 25 percent in July due primarily to the delayed income tax filing deadline, State Treasurer Randy McDaniel announced on Wednesday. But it didn’t affect gross production taxes on oil and natural gas in the state as they were down nearly 72% from a year ago….a …
Oklahoma’s Office of Workforce Services is a busy place these days in light of what the COVID-19 pandemic is doing to the world’s economies. In addition to the thousands of jobs lost in Oklahoma’s oil and gas industry—the most recent being the closure of a well-drilling manufacturing plant in Enid, companies that rely on …
Oklahoma U.S. Sens. Jim Inhofe and James Lankford are among a handful of oil-states senators who joined Texas Senator John Cornyn in supporting a bill pushing for infrastructure permitting reforms after a fast-track program came under court challenge this year and became the latest roadblock for the Keystone XL heavy crude pipeline. Sen. Cornyn introduced …
Oklahoma City’s Enable Midstream Partners, LP reported a drop in revenues and net income in the second quarter as the COVID-19 pandemic hit the pipeline company. Revenues totaled $515 million for the quarter, a drop of $220 million compared to the $735 million reported in the second quarter of 2019. Net income for the …
Wind-farm operator ALLETE, Inc. based in Minnesota reported second quarter earnings of 39 cents a share on net income of $20.1 million, a drop from the earnings a year ago. Last year’s earnings were 66 cents a share on net income of $34.2 million. ALLETE Clean Energy recorded second quarter 2020 net income of …
Despite the COVID-19 impact, refinery operator Holly Energy Partners, L.P. reported increased second quarter net income. The Dallas based company, owner of a refinery in Tulsa and other locations across the country reported net income of $76.5 million or 73 cents per diluted limited partner unit compared to $45.7 million and 43 cents a unit …
After his company reported at more than $239 million second quarter loss, Continental Resources founder Harold Hamm remains optimistic about the remainder of 2020. “Despite headwinds faced this year, now is not the time to count out U.S. independent producers from being key future net exporters of crude,” he told investors and analysts during …
