Active in Oklahoma’s oil patch, Houston-based Nine Energy Service, Inc. had third quarter revenues of more than $167 million and saw a 77% increase in gross profit compared to the second quarter. The company said net income was $14.3 million and adjusted EBITDA was $32.6 million. Adjusted net income for the quarter was $12.2 million …
November 8, 2022 archive
LSB investor offers shares for sale
LSB Industries, Inc. of Oklahoma City announced that an affiliate of Eldridge Industries LLC intends to offer for sale an aggregate of 14,350,000 shares of LSB’s common stock pursuant to the Company’s automatic shelf registration statement. Eldridge Industries, based in Connecticut makes investments in different industries including technology, real estate, insurance and asset management. …
New state Career and Technology Education Director named
The Oklahoma State Board of Career and Technology Education has selected Brent Haken as the ninth state director of the Oklahoma Department of Career and Technology Education. Haken will begin his official duties as state director in January. He comes to Oklahoma CareerTech from Morrison Public Schools, where he has served as superintendent since …
Toro plans to expand Ditch Witch operations in Perry
Officials from The Toro Company recently announced the company will be expanding its Perry, Okla., manufacturing facility, home to Ditch Witch and other leading construction brands. The move is expected to bring up to 100 new jobs to the rural community and expand its current building by an additional 200,000 square feet. The Toro …
Environmentalists sue Colorado over petroleum burn permit
Colorado’s permit to allow a tanker truck repair center burn vapors from tanks resulted in a lawsuit filed against the state. The suit was filed by the Center for Biological Diversity and North Range Concerned Citizens over the permit issued to Polar Service Center which allows the firm to flare vapors from empty tanks …
More headlines of energy stories
** Press Secretary Karine Jean-Pierre said during Monday’s White House press briefing that President Biden’s vow to “shut down coal plants all over America” was “twisted” by the press. Addressing the crowd at a rally in San Diego County on Friday, Biden suggested that coal plants should be shuttered because they are no longer economically viable. ** The U.S. Department of …
Diamondback exec predicts slowing crude oil production
The top man at Diamondback Energy, Travis Stice, is predicting the nation’s shale industry will continue struggling to expand production. During an earnings call Tuesday in Midland, Texas, where the company is headquartered, Stice also said costs of new shale wells will also rise. What’s behind the lag in production? He blames the aging …
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