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T. Boone Pickens Boosts Energy Stock Holdings
After proclaiming that America’s oil industry was ‘dead in the water’ earlier this year, billionaire energy investor T. Boone Pickens has changed course and doubled down on energy investments. Energy stocks held by Dallas-based BP Capital Fund Advisors LLC rose by $55 million, or 34%, to $218 million in the second quarter, according to data …
Permits to Drill August 18, 2016
Blaine County LOOKABAUGH 25_24-15N-11W #1HX, August 17 2016 36 15N 11W NWNWNWNW API: 01123639 Lat: 35.73899530857149, Long: -98.3300962470129 DEVON ENERGY PRODUCTION CO LP HH, DR, 21890 ft, MISSISSIPPIAN(10781), WOODFORD(11968) Blaine County CHISHOLM TRAIL 19_18-16N-9W #1HX, August 17 2016 25 16N 10W SENENENE API: 01123638 Lat: 35.83986936463127, Long: -98.20777612945126 DEVON ENERGY PRODUCTION CO LP HH, DR, …
Oklahoma Gasoline Average Falls Below $2
Oklahoma drivers are paying less at the pumps, according to weekly statistics provided by AAA Oklahoma. Lawton has the lowest average in the state at $1.92 a gallon, up two cents since last week. Shawnee has the second lowest average at $1.93, up a nickel in the past several days. Two other cities have lower …
Government Advisory Bulletin Issued on Operational Status of Pipelines
The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) issued an advisory bulletin on Tuesday clarifying the regulatory requirements regarding abandoned pipelines based on their operational status. PHMSA regulations do not recognize status of “idle,” “inactive,” or “decommissioned” for hazardous liquid or gas pipelines. The regulations consider pipelines to be either active …
Callidus Technologies Cuts 10% of Workforce at Tulsa Headquarters
Honeywell subsidiary, Callidus Technologies LLC, announced it is eliminating 30 positions at its south Tulsa headquarters, according to a Tulsa World report. The layoffs are a result of volatility in oil prices coupled with sluggish market conditions, according to a statement issued by company officials on Tuesday. “Today we announced to our employees that we …
OCC Approves OG&E SmartHours Reimbursement of $30.3 Million
By a unanimous 3-0 vote, the Oklahoma Corporation Commission approved a $30 million joint stipulation settlement on Tuesday allowing Oklahoma Gas and Electric Co. to recapture lost revenues from the company’s SmartHours program, according to a report by The Oklahoman. OG&E will recover $30.3 million — $10.1 million per year — for three years of lost revenue …
OCC Grants Approval to Fortis Acquisition of ITC Holdings
The Oklahoma Corporation Commission has granted final approval to Fortis Inc.’s application to acquire ITC Holdings Corp. for $11.3 billion, according to a company press release. The deal is expected to close by the end of the year. “The Oklahoma Corporation Commission plays an important role in protecting the interests of all Oklahomans,” said Barry …
Merger in the Works for Linde and Praxair
Linde AG and Praxair Inc. have confirmed they are in talks about a possible merger for two of the world’s largest providers of industrial gas products. Linde, based in Munich, Germany, said in a statement on Tuesday that the talks are preliminary and that “it is currently not foreseeable whether there will be any kind …
Petro River Accelerates Osage County Drilling
Petro River Oil Corp. plans to accelerate drilling in the Pearsonia West Concession in Osage County, Oklahoma, according to a company press release issued on Monday. Petro River and its operating partners plan to drill four wells this fall. The Pearsonia West Concession includes 106,500 contiguous acres centered on the structural trend of the Pearsonia-Blackland-Foraker …
Gas Pipeline Interfering With Tuttle Water Line Construction Project
A small town in Grady County is grappling with an unforeseen construction problem, according to a report published Tuesday in the Journal Record. A city water line is on hold as Tuttle’s city manager determines his next course of action. City Manager Tim Young says a gas pipeline is the cause of the delay. Prior …