Eleven years after an ExxonMobil pipeline burst in Arkansas and resulted in a huge oil spill, federal and state officials are asking a judge to approve a $1.75 million settlement. It was in 2013 when the Pegasus pipeline leak occurred in Mayflower, sending tens of thousands of gallons of heavy crude oil into streams …
July 2024 archive
Energy Transfer says latest dividend showed growth from a year earlier
A quarterly cash distribution of 32 cents a share or $1.28 on an annualized basis has been announced by Energy Transfer LP, the Dallas-based company with 130,000 miles of pipeline, including in Oklahoma. The company’s dividend for the second quarter that ended June 30 will be paid August 19 to unitholders of record …
OGE urges customers to take advantage of its assistance programs
Even as the company seeks back to back rate hikes, Oklahoma Gas and Electric is encouraging customers who have difficulty in meeting their monthly bills to take advantage of the company’s assistance program. In a weekend release, OG&E said the arrival of summer heat has resulted in some of its customers, including seniors, …
NGL investors wonder if quarterly earnings will improve over last quarter’s big loss
After finishing its fiscal year 2024 with a fourth quarter net loss of nearly $237 million, NGL Energy Partners LP plans a quarterly release in August. It’s a release that investors are probably anxious about as they wonder if there will be signs of improvement. The release on Thursday, Aug. 8 will be …
Vital Energy joins Northern Oil and Gas in $1.1 billion acquisition of more holdings in Permian Basin
Tulsa’s Vital Energy, Inc. just expanded its Permian Basin holdings in partnership with Northern Oil and Gas, with an all-cash $1.1 billion acquisition of the assets of Point Energy Partners, a Vortus investments portfolio company. The announcement indicated the deal “will significantly increase the company’s operational scale and footprint in the Delaware Basin and …
Energy briefs
** ArcLight Capital Partners, a major private equity buyer of power assets, launched a new unit with initial capital of $500 million to acquire and upgrade wind and solar projects that will help meet surging electricity demand from data centers. The investment vehicle, SkyVest Renewables, made its debut deal with the purchase of a 160-megawatt …
Congressman adds anti-DEI legislation on Interior Department budget bill
When the U.S. House voted last week along party lines for a reduced budget for the Department of Interior, it not only had the support of Oklahoma’s five U.S. Representatives. It also included Republican efforts to thwart DEI and environmental justice activities to be inserted by the Biden administration. The final budget bill included …
A rig rebound seen in Oklahoma and the US
Oklahoma and the U.S, saw increases in the past week in the numbers of active oil and gas drilling rigs, meaning there was a resumption in exploration. The latest Baker Hughes Co. rig count released on Friday, showed Oklahoma had a gain of two rigs to reach a total of 35 rigs. The total …
Casey’s expanding by nearly 200 stores with $1.1 billion acquisition
We’ll soon see more of those Casey’s General Stores so familiar throughout Oklahoma. The Iowa-based company announced a $1.145 billion acquisition of Fikes Wholesale, Inc., owner of CEFCO Convenience stores in Texas and other states. Casey’s acquisition of Fikes will include 198 retail stores and a dealer network. The proposed transaction will increase Casey’s …
Cash distribution announced at Alliance Resources in Tulsa
Tulsa’s Alliance Resource Partners, L.P., one of the nation’s largest coal-mining companies plans to release is quarterly finance report on Monday, July 29 just days after it announced a new cash distribution to shareholders. The cash distribution will total 70 cents a share or $2.80 at an annualized rate per share and will …
