Author's posts
Newfield Exploration Shutting Down Tulsa Offices
Short and to the point—-Newfield Exploration’s announcement this week that 50 of its employees in Oklahoma would be laid off and nearly 150 others would be transferred from the Tulsa offices back to the firm’s headquarters in Houston, Texas. Blame the oil and gas downturn and Newfield’s loss of millions in the first quarter of …
Chaparral Energy is Latest Oklahoma Energy Firm to File Chapter 11 Bankruptcy
Oklahoma City-based Chaparral Energy has become the latest Oklahoma oil and gas producer to file Chapter 11 bankruptcy. The firm filed Monday in the U.S. Bankruptcy Court of Delaware. “This action will facilitate the restructuring of our balance sheet as we continue to work through negotiations of a debt to equity exchange with our bondholders …
USGS Studies Show Water Contamination from Wastewater Disposal Site
The U.S. Geological Survey has released studies that for the first time show water-quality impacts directly due to what it called an unconventional oil and gas wastewater deep well injection disposal site. Two recent studies were conducted by the U.S. Geological Survey, the University of Missouri and Duke University. They indicated the presence of …
EPA Director Says Her Agency Will Prevail in Clean Power Plan Fight
While Oklahoma and dozens of other states are fighting the Environmental Protection Agency over its war against coal-fired electric-generating power plants, EPA Director Gina McCarthy is professing the legal fight will not delay the country’s accelerating shift to cleaner sources of energy. The Associated Press reports it’s what McCarthy said over the weekend at …
One Oil Leader Says it’s Time Industry Surrendered All Tax Credits to Help the State
Oklahoma oilman Mike Cantrell is surprising some energy leaders with a call for them to support an end to tax credits for the state’s oil and gas industry. “The state of Oklahoma is in dire financial straits, in large part because the states oil and gas industry is in a depression, due to low prices,” …
Key Energy Reports Losses
Houston-based Key Energy, a firm that’s expanded its holdings over the years by making acquisitions of a handful of Oklahoma energy operations reported first quarter loss of nearly $82 million. The company said the loss translated to $0.51 per share, despite consolidated revenues of $111.1 million. The fourth quarter 2015 consolidated revenues had totaled $150.2 …
EDF Energies Expands Operations to Off-Shore French Wind Farms
Paris-based EDF Energies, the company that is providing electrical power to Google from its northwest Oklahoma wind farm has just announced a new partnership agreement with Enbridge Inc. to operate three French offshore wind farms totaling 1,400 MW of installed capacity. Through the agreement, Enbridge acquires a 50 percent stake in Eolien Maritime France, the …
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 …