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Tallgrass Energy Expands Pipeline Holdings
Leawood, Kansas based Tallgrass Energy Partners, LP has closed on its purchase of a 25 percent membership interest in the Rockies Express Pipeline LLC from a unit of Sempra U.S. Gas and Power. It was a $440 million deal involving both TallGrass Energy Partners LP and Tallgrass Energy GP. The Rockies Express Pipeline …
Saudi Oil Minister Ousted
He might not have had a direct relationship with Oklahoma energy producers, but his leadership as Saudi Arabia’s oil minister was definitely felt by them. Now, Ali al-Naimi has been removed from power by his own government and replaced by former Health Minister and Saudi Aramco board chairman Khaled al-Falih. Al-Naimi had led the Saudi …
$775 million Pipeline Purchase by Phillips 66 Partners to be Finalized This Month
The pending purchase of the Standish Pipeline and other assets from Phillips 66 by Phillips 66 Partners is expected to be closed in the next few weeks. The $775 million was announced last week. The Standish Pipeline runs from Phillips 66’s Ponca City refinery in northern Oklahoma to the Phillips 66 Partners’ North Wichita Terminal …
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 …