A bill authored by Tulsa freshman State Representative Suzanne Schreiber aimed at empowering law enforcement to enact forfeiture measures associated with the theft of catalytic converters and copper will become law in November after clearing all legislative hurdles. Schreiber said she was informed about the issue by her predecessor, former state representative Carol Bush, who …
May 2023 archive
Governor signs new flood hazard mitigation law
Legislation expanding opportunities to receive federal hazard mitigation funding has been signed into law. House Bill 1928, authored by Rep. Lonnie Sims, R-Jenks, replaces the Flood Hazard Mitigation Account with the Hazard Mitigation Financial Assistance Fund in order to broaden the scope of what the fund may be used for and what federal grants may …
Weaker natural gas prices didn’t stop Gulfport Energy from a strong 1Q
A weaker commodity price environment might have existed in the first quarter of 2023, but Oklahoma City’s Gulfport Energy Corporation still had a strong showing with $523.1 million in net income and $229.7 million of adjusted EBITDA. In the release of its first quarter financial results, the company managed to generate $304.1 million of …
PSO’s $2.4 billion renewable energy project to be voted on by Corporation Commissioners
Oklahoma Corporation Commissioners will meet Thursday to consider a settlement agreement reached over the $2.46 billion renewable energy project proposed by Public Service Company of Oklahoma. The joint stipulation and settlement agreement was announced last week by Attorney General Gentner Drummond who finally signed onto the settlement for the need of the project. “With …
PSO announces robotics grants to Oklahoma schools
Public Service Company of Oklahoma (announced more than $35,000 in robotics grants to 16 school groups throughout the state. The grants range from $250 to $3,200. The FIRST (For Inspiration and Recognition of Science and Technology) robotics grants program is a nationwide initiative that supports pre-kindergarten through grade 12 student education with an emphasis …
ONEOK reports more than $1 billion in 1Q net income
ONEOK Inc. reported first quarter 2023 financial results which included more than $1 billion in net income, part of which resulted from a $930 million settlement reached last year over a disastrous fire at its Medford gas plant. Total net income was $1.05 billion resulting in a $2.34 per diluted share. Adjusted EBITDA was …
Chesapeake Energy confirms another strong quarter for the OKC company
Another strong quarter was reported by Chesapeake Energy as it had $1.3 billion or $9.60 per diluted share in net income. The Oklahoma City’s adjusted net income was $270 million or $1.87 per share during the first quarter of the year, according to the company announcement. It also said it delivered …
Empire Petroleum names new CFO and board member
Empire Petroleum in Tulsa announced that Stephen L. (“Larry”) Faulkner has been promoted to Chief Financial Officer for the Company and J. Kevin (“Kevin”) Vann has been named to the Company’s Board of Directors as an independent director. Both appointments were effective April 28, 2023; both were part of a proven operational team that …
Ascent Resources provides update in financial notes status
Oklahoma City’s Ascent Resources Utica Holdings, LLC recently provided an update on its financial transactions. It announced it had issued a notice of prepayment to the Wilmington Trust, National Association as the administrative agent for its Second Lien Term Loans that are due in 2025. The Notice calls for the full redemption of the Second …
Haynesville natural gas production hit a record high in March 2023
Data source: Enverus, state administrative data Oklahoma energy companies such as Chesapeake Energy and Devon Energy were part of record dry natural gas production in the Haynesville shale play in northeastern Texas and northwestern Louisiana. The U.S. Energy Information Administration reported production averaged 14.5 billion cubic feet per day (Bcf/d), 10% more than the 2022 …
