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Tulsa’s Murphy Energy Latest to File Chapter 11 Bankruptcy
Tulsa-based Murphy Energy has become the latest energy firm to file Chapter 11 bankruptcy, listing more than $75 million debt including $57 million to lenders led by Bank of America. The 23-year old oil and natural gas transporter with 210 employees has ten truck-to-pipeline crude oil terminals in Oklahoma and north Texas. The terminals buy …
Appeals Court Raises Questions of Tribe Fighting Oil Pipeline in North Dakota
A federal appeals court has not indicated when it might issue a ruling after listening to arguments for and against the nearly $4 billion Dakota Access oil pipeline being fought by environmentalists and members of the Standing Rock Sioux Tribe in North Dakota. Some of the environmentalists and opponents include Oklahomans who traveled to North …
Duncan Honored for Economic Development
Despite having the state’s highest jobless rate over the loss of oil and gas field workers, the city of Duncan has received a Silver Excellence in Economic Development Award from the International Economic Development Council. The award for the Duncan Area Economic Development Foundation was for its 2015 Annual Newsletter and for communities with …
GE Officials call it a ‘Great Day’ to Open new OKC Energy Research Center
General Electric’s put out a slick magazine with the title of “Innovating for the Future of Energy” as part of the grand opening this week of its $125 million Global Research Oil and Gas Technology Center in Oklahoma City. Director Mike Ming is quoted in the magazine as pointing out how GE is emerging …
Trump Meets with Colorado Oil and Gas Leaders
Republican presidential hopeful Donald Trump huddled this week in Denver with more than a dozen oil and gas executives, attempting to tighten his influence on the industry in a state where he reportedly trails Hillary Clinton by 11 points in one poll. Oklahoma Energy leader Harold Hamm is one of those executives who is unashamed …
GE Formally Opens $125 Million Oil and Gas Research Center in OKC
General Electric’s new $125 million oil and natural gas technology center is formally being opened this week in downtown Oklahoma City. The opening comes three years after GE announced it would build the center and broke ground. GE executives joined Oklahoma officials in commemorating the huge center, the first GE research center to focus on …
Enel Green Power Reaches 1 Gigawatt of Wind Capacity in Oklahoma
Enel Green Power North America says it now is producing 1 gigawatt of wind capacity in Oklahoma, and will mark the completion of its seventh and eighth wind projects by the end of the year. Enel has operated wind farms in Oklahoma since 2012 and started with the MW Rocky Ridge wind farm, according to …
Continental Resources Redeeming $600 million in Senior Notes
Oklahoma City-based Continental Resources Inc. has announced it is redeeming nearly $600 million in outstanding Senior notes and at the same time expects to reduce its debt to $6.6 billion. The company said it will redeem all of its outstanding 7 3/8% Senior Notes due 2020 and 7 1/8% Senior Notes due 2021 on Nov. …
Tulsa Energy Company Reports Big Wells near Tuttle
Tulsa-based Citizen Energy has had some success in Grady and Canadian counties, hitting at least two wells that produced more than 1,100 barrels of oil equivalent a day. They were not eye-popping producers like some of the 2,000-barrel-a-day-plus wells reported in some parts of the STACK but are still sizeable producers. One well, the Rosemary …
Former Chesapeake Exec Lands Leadership Position at Swift Energy
Former Chesapeake Energy executive Marcus Rowland has taken over as chairman of the board of Houston-based Swift Energy Company. Rowland previously had been the Chief Financial Officer at Chesapeake Energy and his term as chairman will expire in 2019. The company said his appointment followed the retirement of CEO Terry Earl Swift and CFO Alton Heckaman Jr. …