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Energy news in brief
** Warren Buffett’s Berkshire Hathaway Inc. has announced an agreement to purchase the natural gas transmission and storage assets of utility company Dominion Energy Inc. in a deal currently valued at $9.7 billion in total, including a cash payment of $4 billion and the assumption of $5.7 billion of debt incurred by the Gas Transmission & Storage segment …
Federal Reserve bank to focus on Oklahoma’s oil crisis
The Oklahoma City Branch of the Federal Reserve Bank of Kansas City is planning an economic forum this month to discuss the continuing impact of the COVID-19 pandemic along with the oil and gas crisis. Chad Wilkerson, Oklahoma City Branch executive, vice president and economist of the Federal Reserve Bank of Kansas City will …
Extreme heat wave to smack Oklahoma
Your eyes are not deceiving you. Temperatures of up to 110 are in the forecast for the Oklahoma and Texas panhandles this week as extreme heat is about to slap the state. As Oklahoma Climatologist Gary McManus wrote in his Monday Mesonet report, “For this week, however, the point is the heat is on, and …
Regulators to consider extending decision to close headquarters
Oklahoma Corporation Commissioners plan another regular meeting this week where they will attend “in person” but the public will have to rely on video or telephone communications to take part. The Wednesday morning meeting is scheduled to begin at 9:30 and the Commission will consider yet another extension of its COVID-19 responsive order that …
New Pioneer focuses on state’s latest business efforts
The July newsletter, New Pioneer, published by the Oklahoma Department of Commerce was released this week. It details a number of business articles across the state including the extension of the main runway of the Jones Memorial Airport at Bristow where U.S. Sen. Jim Inhofe recently spoke. Other articles focus on the assistance given …
Quintana Energy Services avoids delisting on NYSE
BE Houston’s Quintana Energy Services, the firm set to merge with KLX Energy Services has avoided delisting from the New York Stock Exchange. The two firms are set to complete a merger announced in April. KLX Energy, with a field operations office located in Yukon, Oklahoma announced in May it intended to merge with Quintana, …
Tesla stock is improving while company considers new truck plant site
While Elon Musk decides whether to locate a new Tesla truck manufacturing plant in Tulsa or Austin, Texas, his company’s stock is rising. Tesla’s stock reached fresh records in the holiday-shortened week, helped along by higher than expected second-quarter delivery numbers the electric automaker reported early Thursday. Morgan Stanley analysts, in a note, said the …
Developers give up on Atlantic Coast pipeline
Duke Energy and Dominion Energy on Sunday threw in the towel on the Atlantic Coast Pipeline, a proposed 600-mile natural gas line from West Virginia to North Carolina. It ends one of the highest profile battles over fossil fuel infrastructure in recent years, and its demise is a win for the environmental groups that spent …
Petroleum leader says he’s saddened by activist-led litigation
A federal court ruling that ordered the shutdown of the Dakota Access crude oil pipeline and the cancellation of another line have left the American Petroleum Institute upset. President and CEO Mike Sommers reacted with criticism of the courts. “Between the Atlantic Coast Pipeline cancellation and now the ruling to shut down the Dakota …
Court orders Dakota Access pipeline to be shut down
The Dakota Access pipeline must shut down by Aug. 5, a district court ruled Monday in a stunning defeat for the Trump administration and the oil industry. Bloomberg Law reported the decision, which shuts the pipeline during a court-ordered environmental review that’s expected to extend into 2021, is a momentous win for American Indian tribes …