Author's posts
Blueknight Energy reports Increased Quarterly Earnings
Oklahoma City-based Blueknight Energy Partners L.P. says its first quarter earnings totaled $13.6 million, an increase from the $12.9 million reported in the first quarter of 2015. The $13.6 million was before interest, taxes, deprecation and amortization. The cash flow was $8.6 million for the three months that ended March 31, 2016 compared to …
Bankruptcy Leads to New Owner of Oilfield Waste Disposal Company
The recent Chapter 11 bankruptcy by oilfield waste disposal company CCNG Energy Partners, LP has led to the firm being scooped up by Trinity Acquisition LLC of Austin, Texas. CCNG had assets located throughout Texas and New Mexico but they were acquired after the firm filed Chapter 11 bankruptcy. The assets include 27 saltwater …
Law Firm Predicts More Oil and Gas Bankruptcies are Looming
The number of North American oil and gas producers that have entered bankruptcy court since the beginning of 2015 is up to at least 69, according to the Texas law firm Haynes and Boone which focuses on such legal matters. The company says the bankruptcies, including Chapter 7, Chapter 11, Chapter 15 and …
Halliburton to Redeem $2.5 billion in Outstanding Notes
A week after breaking off its merger agreement with Baker Hughes, Houston-based Halliburton Company announced it will also redeem the entire outstanding principal amount of $2.5 billion in its 2.700% Senior Notes due March 2020. The offer also includes its 3.375% Senior Notes due in March 2022. The redemption date for the Notes is May …
State House Speaker Agrees—-It’s Time to Cut CNG Tax Credit
Oklahoma Speaker of the House Jeff Hickman (R-Fairview) agrees that the tax credit created several years ago to help the then-struggling CNG industry get off the ground in Oklahoma should be cut because of the state’s budget crisis. “I don’t think it will have a major impact,” said Rep. Hickman, in an interview with …
Three State Airports Share $800,000 in State Airport Grants
Improvements are expected to begin soon at various airports around the state because of $800,000 in grants from the Oklahoma Aeronautics Commission. The grants for West Woodward Municipal Airport, Anadarko Municipal Airport and Clinton Municipal Airport come from the Commission’s three-year Capital Improvement Program or Construction Program. “Our local airports are gateways to the world …
DEQ Taking Comments or Requests for State Implementation Plan Under Clean Air Act
Oklahoma’s Department of Environmental Quality says it is taking public comments and any requests for a public hearing on a proposed Infrastructure State Implementation Plan under the Clean Air Act. The SIP is for the 2012 Primary Fine Particulate Matter National Ambient Air Quality Standard. The DEQ will take requests for hearing until 10 …
Legislator Wants Study of New Turnpikes and Spending of Taxes
One Oklahoma legislator wants a new study on the viability of new turnpikes in the state. Rep. Lewis Moore, R-Edmond wants the study done on turnpikes, the distribution of motor fuel taxes, motor vehicle taxes and what he calls an end to the “cross pledging” of turnpikes “so we can keep the original promise to …
Oil Group Encourages Legislature to Pass Bill to Increase Oil/Gas Revenue for the State
A bill awaiting a vote in the Oklahoma House is being pushed by the Oklahoma Oil and Gas Association, a group that says would add more oil and gas revenue to the state treasury. “House Bill 2177 is the single biggest economic development legislation before lawmakers this session, and it doesn’t cost the state …
Rig Counts Across U.S. and Oklahoma Fell Again
Oklahoma’s oil and gas rig count fell by 3 in the past week while the nation’s count slipped by 5, according to the latest figures from Baker Hughes Company. Oklahoma’s decline left the state with a count of 57 working oil and gas rigs. Nationwide, the count fell to 415, down 479 from a year …
