Days after Oklahoma City’s Chesapeake Energy admitted it might fail if it cannot file Chapter 11 bankruptcy, the company’s stock soared nearly 24% in trading on Friday. The shares rose so quickly Friday morning that five trading halts were triggered because of volatility according to a report by Market Watch. By day’s end, Chesapeake shares …
Hopes are high. Fingers are crossed. Perhaps some good economic news can come out of the coronavirus pandemic as Tulsa is one of two finalists for a new Tesla assembly plant. The other is Austin, Texas according to the Tulsa World which quoted an unidentified person “brief on the matter.” According to the newspaper, Tesla …
Even though the $3 trillion Democrat coronavirus stimulus bill, the one labeled as a “parade of absurdities,” included support for her plan to make cheap oil purchases for the U.S. Strategic Petroleum Reserve, Oklahoma Democrat congresswoman Kendra Horn couldn’t and didn’t vote for the measure on Friday. It passed on a 208 to 199 vote …
Oklahoma Corporation Commissioners have yet to set a date for any public comment or decision on a request by some oil operators to declare the current production of crude oil a “waste” thereby allowing those operators to safely shut-in their wells. The Commission has a Tuesday morning signing agenda but it does not include …
One Houston-based energy company has just wrapped up the more than $21 million purchase of the Oklahoma City offices of another Houston-based firm. EOG Resources Inc. completed the purchase of Riviera Operating LLC’s offices at 14701 Quail Springs Parkway in Oklahoma City for a price of $21,392,500. “We purchased the building and relocated our …
Tulsa-based Williams Cos. suffered another loss in its continuing efforts to build a controversial pipeline aimed at carrying natural gas to homes in New York City. On Friday, New York Gov. Andrew Cuomo (D) rejected a permit for Williams to build the Northeast Supply Enhancement Pipeline and lay a new conduit under Lower New …
Could be some fireworks this week when Environmental Protection Agency Administrator Andrew Wheeler testifies before the U.S. Senate Environment and Public Works Committee. Democrats who are critical of the Trump administration’s handling of the EPA are sure to ask some highly critical questions of Wheeler and his running of the agency. Oklahoma U.S. Sen. Jim …
** Baker Hughes (NYSE: BKR) announced that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on June 5, 2020 to holders of record on May 26, 2020. ** Arizona’s state Supreme Court upholds the ruling of a lower court that removed a state regulator from the …
Oklahoma is down to only 12 working rigs as the combination of the Coronavirus pandemic and the oil crisis continues hitting the start hard. The state reported the loss of an additional rig in the past week and its dozen remaining rigs compares to the 103 a year ago. Nationally, Baker Hughes reported a …
The number of people filing for unemployment in Oklahoma dropped 65% last week after numbers set a record a week earlier. Among those out of work, more in the energy industry. The U.S. Department of Labor reported Thursday that 32,794 Oklahoma workers filed initial claims for unemployment insurance benefits during the week ending Saturday …
