Author's posts
NGL Admits Mistakes were Made…the Company will Restate Earnings
Tulsa-based NGL Energy Partners announced this week that because of an improper accounting of royalty payments it would have to restate its earnings for the past three quarters. In a filing with the Securities and Exchange Commission, the company admitted it had not properly accounted for royalty payments associated with the water solutions agreement. As …
Oil Producers in Osage County Lose Lawsuit Against BIA
The oil and gas producers in Osage County who sued the Bureau of Indian Affairs for allegedly delaying applications for drilling permits had their suit thrown out of court Wednesday by Tulsa U.S. District Judge Gregory Frizzell. He dismissed the suit without prejudice and in essence, agreed with the BIA that the Osage Producers …
Schlumberger Expands Operations with Acquisition of Another Company
Schlumberger, the world-wide company with operations in Oklahoma City and El Reno has widened its holdings with the purchase of a France-based engineering, manufacturing and service company. The cost isn’t known but Schlumberger has acquired Saltel Industries, a firm that offers expandable patches and steel packers technology in the oil and gas industry. Saltel is …
Chesapeake Energy Donates Plaza to Nonprofits Center
Chesapeake Energy Corporation is donating its Chesapeake Community Plaza to the Oklahoma Center for Nonprofits located next to the energy company’s sprawling campus in north Oklahoma City. Chesapeake made the announcement Thursday morning and said the contribution will give the organization full ownership and operation of the Plaza. The Oklahoma Center for Nonprofits has …
Increased Fines Hit Oil and Gas Industry in Colorado
A review of Colorado’s year-old law increasing fines on energy companies for breaking health, safety and environmental rules shows firms might be more careful with their operations. The Associated Press found that regulators levied 74 fines totaling $5.3 million in the past year, far more than any year for the past 20 years. The …
Lawsuit Against Fracking Opponents Dismissed in Pennsylvania
A Pennsylvania judge has thrown out a lawsuit filed by landowners upset with fracking opponents. A developer and a dozen of the landowners sued the opponents, seeking damages for royalties they were not able to collect from gas drilling companies who have leases to drill on their land in western Pennsylvania. The fracking opponents argued …
Iowa Regulators Close to Approving Construction of Bakken Pipeline
Iowa regulators indicated they are about to give the go-ahead for a Texas energy company to build a 346 mile long Bakken oil pipeline carrying a $3.78 billion price tag. Two of the three members of the Iowa Utilities Board indicated they are prepared to approve the request made by Dakota Access LLC, a unit …
Large area of Oklahoma Under a Flood Watch
A large part of central and southern Oklahoma remains under a flash flood watch until 7 o’clock tonight,. Some rain storms could produce one to two inches of additional rain today,especially along the Red River. Otherwise, rainfall chances are expected to start dwindling by Friday with only a slight chance of rain on Saturday. Sunny …
Wind and Solar Power Projects in North Dakota and Michigan
Solar and wind power projects are the focus in North Dakota and Michigan. The North Dakota Public Service Commission plans a public hearing on a proposed $153 million wind farm and associated electric transmission line in Oliver and Morton counties. The 48-turbine wind farm is proposed by a subsidiary of NextEra Energy Resources. Should it …
Independent Petroleum Association of America Attacks Reuters Over Oklahoma Oil Piece
Push back is underway against Reuters for a recent story that blamed Oklahoma’s oil industry for its $1.3 billion dollar budget gap and resulting large cuts in funding for education. It comes from the Independent Petroleum Association of America and its public outreach campaign, EnergyIndepth.org based in Dallas, Texas and accuses Reuters of ignoring some important …
