Author's posts
Interim Director Named at Water Resources Board
After 22 years with the Oklahoma Water Resources Board, Julie Cunningham was named this week as interim executive director, succeeding J.D. Strong who left to become the new Director of the Oklahoma Department of Wildlife Conservation. Cunningham had been the Water Board’s Chief of Planning and Management since 2008. She agency in 1994 as an …
Borehole Test Operation Doubled in Size with $2.5 million Expansion
Announced this week—-Catoosa Test Facility has completed a $2.5 million expansion at its Pawnee County operation, a completion that will double borehole testing capacity for oilfield manufacturers. Located near Jennings, midway between Stillwater and Tulsa, the expansion was actually finished in July but it enabled CTF to add a second drilling rig to allow 18 …
Senior Notes Offerings by Phillips 66 Partners and Dynegy Inc.
Two Houston-based energy firms have announced massive senior notes deals. While Phillips 66 Partners LP is announcing a $1.125 billion Senior Notes Offering, Dynegy Inc. is closing its offering of $750 million senior notes. The Phillips offering includes notes due 2026 and in 2046 and the proceeds will be used to pay the cash consideration …
Devon Wraps up $1.1 billion Sale of its Share of Access Pipeline
With the completion of its $1.1 billion sale of its 50% ownership interest in Access Pipeline, Devon Energy expects the proceeds to beef up its investment-grade balance sheet. It also means the investments will put the Oklahoma City-based energy company in a position to get higher benefits from the STACK and other resource-rich U.S. areas. The …
Chesapeake Energy Shares Jump 50% in Three Months
Skyrocketing prices of Chesapeake Energy shares are getting some attention in the stock market. As Seeking Alpha notes, Chesapeake shares have jumped 50% in the past three months and it’s largely due to a “rally in natural gas pricing.” The investment company says Chesapeake Energy is likely to reap the benefits of a growing …
Samson Encounters Objections in Amended Chapter 11 Bankruptcy
Tulsa-based Samson Resources has encountered some opposition from the U.S. Trustee in its Chapter 11 bankruptcy case filed last year in the District of Delaware. At the same time, the Department of Interior is objecting too. The Interior Department told the judge in the case that Samson Resources corp. must pay $136.9 million and get the department’s …
Four Texas Firms Fined $3.5 million for Criminal Clean Air Violations
A total of $3.5 million in fines for criminal clean air violations will be paid by four companies in eastern Texas. The violations occurred from 2008 until 2012 at two Southeast Texas oil and chemical processing facilities and involved one tank explosion that killed a worker. The companies entered guilty pleas in federal court. KTX …
Democratic Critic says Thursday’s Day of Oilfield Prayer should be A day for No Earthquakes
Thursday has been proclaimed an “Oilfield Prayer Day” by Oklahoma Gov. Mary Fallin, but Democratic critic Rep. Richard Morrissette says it should be a day to pray for no more earthquakes. “I think we should all pray on the 14th to have one day in Oklahoma when we have no earthquakes,” said the legislator who …
ONG Agrees to $1 million Fine over Pipeline Explosion in OKC
The Oklahoma Natural Gas Company will avoid $8.5 million in fines over a January natural gas pipeline explosion as part of a $1,010,000 agreement announced Wednesday before a Corporation Commission Administrative Law Judge. Just as Judge Michael Porter opened the contempt hearing to receive evidence on three citations issued by the Corporation Commission, attorney Mark …
General Electric Expands its Holdings in Wind Energy Industry
General Electric, the company that just dedicated its new oil and gas research center in Oklahoma City just agreed this week to spend $1.65 billion on wind energy. The company announced it will buy one of its suppliers of wind turbine blades from British private equity shop Doughty Hanson and Company. It’s a move that …