December 2020 archive

Space Command headquarters decision coming soon

  The Air Force is expected to announce early this year its pick for the new home of the U.S. Space Command headquarters. Six locations made the first cut. Oklahoma City at one time considered application to locate the headquarters close to Tinker Air Force Base but apparently no formal entry was ever made. The …

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Nebraska judges rule against Keystone developer in court fights

   Recent rulings by three Nebraska judges might result in the developer of the controversial Keystone XL pipeline possibly being forced to reapply for state government approval. Reports by Bold Nebraska, an environmental group created several years ago in opposition to the Keystone XL line going through the state indicated three judges have raised the …

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Devon and WPX to close merger this week

  In approving a merger this week with WPX Energy of Tulsa, shareholders in Oklahoma City’s Devon Energy also gave their nod to issuing common stock to WPX shareholders. Devon filed the information with the U.S. Securities Exchange Commission showing the common stock, with a par value of 10-cents a share would be issued to …

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Northwest Arkansas to get Walmart drone delivery service

  Walmart plans to launch a drone delivery service in the northwest Arkansas town of Pea Ridge but first must win approval from town leaders. Drones will be able to carry up to four pounds and have a 50-mile radius. Walmart is launching the service in partnership with Zipline International Inc. which made the request …

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Exxon Mobil indicates 4Q will see more losses

  A little more than a month before Exxon Mobil Corp. officially releases its fourth quarter earnings report, the Irving, Texas based company suggested it will likely suffer a fourth straight quarterly loss. In a filing with the Securities Exchange Commission, the company revealed plans to take a nearly $20 billion write-down on its upstream …

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Spending bill included millions for rare earth mining

  The mining industry has never been looked upon with positive feeling by environmentalists but it received overwhelming support in the coronavirus relief package signed into law by President Trump. The $2.3 trillion, nearly 6,000-page bill included more than $800 million to finance the mining of rare earth minerals that the industry says will counteract …

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Halliburton reduces Venezuela staff due to U.S. economic sanctions against the country

  Halliburton took steps in the past few days to slash its workforce in Venezuela where U.S. sanctions have limited the company’s operations. Reuters quoted a Halliburton spokeswoman as explaining all company operations in the crisis-stricken OPEC country were halted when the U.S government limited activities back in April 2020. Click here for the Reuters …

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Renewable energy growth to be stronger predicts government

  As the oil and gas industry struggles for survival from the coronavirus pandemic, the federal government predicts the nation’s wind and solar capacity will double over the next five years. While Oklahoma celebrates an increased rig count up to 17, far from the much larger numbers it had a year ago, the International Energy …

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Little interest shown in ANWR oil drilling leases

    The state of Alaska might end up being the only bidder on oil drilling leases in the Arctic National Wildlife Refuge in the state. The Trump administration made a three-year push to open the Refuge to oil drilling but no oil company’s expressed any desire to submit a bid for a 10-year lease. …

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Gains seen in crude oil futures and Oklahoma stocks in Wednesday’s trading

  As crude oil futures and energy stocks prepare to wrap up trading for 2020, crude oil in the U.S. and in Europe saw gains in Wednesday’s trading. So did Oklahoma energy trading. West Texas Intermediate crude, considered the benchmark U.S. oil rose 40 cents for February delivery and finished the day at $48.40 a …

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