His company just lost $216 million or more than $6 a share in the second quarter of 2020. This after the firm sold its downtown Oklahoma City headquarters in a $35 million deal. Yet SandRidge Energy’s CEO Carl Giesler is confident of the company’s future, telling a Thursday morning conference call, “Yesterday’s earnings release …
Remember the Gold King mine disaster in southern Colorado five years ago? EPA and Utah officials reached a settlement to resolve the state’s legal claims related to the Gold King mine disaster that spilled 3 million gallons of wastewater five years ago. As part of the settlement agreement , Utah will dismiss its legal claims against …
** Texas-based Fieldwood Energy LLC filed for Chapter 11 bankruptcy on Aug. 4, making it the second time for the Houston-based offshore producer to enter bankruptcy in the past two years. The bankruptcy also follows the departure of Fieldwood’s founder, Matt McCarroll, in early July. ** One of the world’s largest oil companies just announced it would cut 40% …
A second quarter loss of $581 million has Weatherford International looking at more layoffs and office closures. The Texas company, which already let go some of its workers in Oklahoma operations reported a growing loss from the effects of the coronavirus pandemic. The company lost $581 million compared with $966 million in the first …
Kansas City-based Evergy Inc. announced a new five-year strategic plan, one that will help the company avoid a possible sale. The company said the plan will help speed its move to cleaner energy and do it as a stand-alone company. The plan results from a review by a special committee put together by the …
Four leading U.S. labor unions have reached a deal with TC Energy Corporation for the construction of the Keystone XL pipeline, a move that supporters say will inject hundreds of millions of dollars in middle-class wages in the country’s economy. The four unions that are part of the PLA include the Laborers International Union of …
Executives at Tulsa-based ONEOK, Inc. will be busy this month attending investor conferences—virtually. The first was held Thursday as they took part in the 11th annual Tuohy Brothers Annual Energy Conference. On Aug. 11, ONEOK leaders plan to take part in the Goldman Sachs Power, Utilities, MLPs and Pipelines conference. They will also seek …
Houston’s Plains All American Pipeline, L.P. reported a 68% drop in net income as it totaled $142 million in the second quarter of the year and delivered adjusted EBITDA of $524 million. Net income a year ago was $446 million and company write-downs reached more than $3 billion for the first half of the …
Lower earnings in the second quarter of 2020 were reported Thursday by OGE Energy Corp., the parent company of Oklahoma Gas and Electric Company. The drop in earnings appears to have been driven by the firm’s part ownership of Enable Midstream, a firm with lower revenue due to the COVID-19 pandemic. Earnings were …
Tulsa’s Laredo Petroleum, Inc. reported a second quarter 2020 loss of $545.5 million or $46.75 per diluted share. The company also indicated it plans to resume well completions in Texas in the coming month. The company’s adjusted net income was $28.4 million or $2.43 per adjusted diluted share while its adjusted EBITDA was $132.8 …
