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OKC’s Blueknight Energy Partners to Announce First Quarter Results on Wednesday
Oklahoma City-based Blueknight Energy Partners, L.P. will announce its first quarter 2016 financial results after the market closes on Wednesday. The company plans to discuss the results during a conference call on Thursday, May 5 at 1:30 p.m. CDT. The company has assets of 7.4 million barrels of crude oil storage in Oklahoma and …
Tulsa’s WPX Energy Produced $93 million in Senior Notes Tender
Tulsa-based WPX Energy wrapped up its cash tender offer on Friday for purchases of its outstanding 5.250 percent Senior Notes due 2017. The offer ended Friday at 5 p.m. and indicated $93 million or nearly 31 percent of the outstanding Notes had been tendered and accepted. The total purchase price offered for each $1,000 principal amount …
May Will Bring an End to Any Remaining Drought Areas of Oklahoma
May is expected to bring an end to any remaining areas of Oklahoma still under a drought, according to the latest Oklahoma Mesonet Report. “The precipitation outlook is bullish on above-normal precipitation across all of Oklahoma, but especially the southwestern two-thirds,” said Gary McManus, State Climatologist in the Monday edition of his daily reports. “The …
Chapter 11 Bankruptcy Filed by Tulsa’s Midstates Petroleum
Tulsa-based Midstates Petroleum Co. is one of the latest companies to file Chapter 11 bankruptcy as the energy downturn adds another victim. Midstates, an Oklahoma company with 120 full-time workers filed Friday in Houston bankruptcy court listing liabilities ranging from $1 billion to $10 billion and more than 25,000 creditors. The paperwork said …
Government’s Objection Brings Merger of Halliburton and Baker Hughes to a Halt
The $28 billion dollar merger between Halliburton and Baker Hughes, both headquartered in Houston was cancelled Sunday. The Securities and Exchange Commission was notified early Monday by the two companies after the Justice Department filed a civil complaint April 6 to stop the merger, claiming it would create a company so large that it would …
Quakes Rattle Southern Kansas and Northern Oklahoma While Scientists say Reduced Disposal Well Plans are Working
Even as early Sunday-morning earthquakes rattled southern Kansas and parts of northern Oklahoma, scientists with the U.S. Geological Survey indicated they believe there will be fewer earthquakes in the region due to steps taken to curtail wastewater injection well use in both states. The prediction comes form Justin Rubinstein, a seismologist and deputy chief …
Bakken Blamed for Reversal in World’s Ethane Emissions
A discovery by scientists now blames North Dakota’s Bakken Shale formation for contribution 2 percent of the entire world’s ethane output. The formation, which also stretches into parts of Montana is being blamed, according to some reports for reversing a decades-long decline in global ethane emissions, according to a recent report in the Washington …
Rig Counts Slide in Oklahoma and across the Nation
Both the U.S. and Oklahoma rig counts suffered losses in the past week, according to the latest data released by Baker Hughes Company of Houston. Oklahoma suffered a loss of three more rigs, reaching a total count of 60 working oil and gas rigs. Nationally, the count dropped by eleven, reaching a …
Major Traffic Headaches Coming for OKC’s I-235 Drivers
State Transportation Commissioners will meet Monday to consider the single largest contract in the history of the Oklahoma Department of Transportation. Commissioners are expected to vote on approval of an $81 million contract with possible financial incentives for the project to reconstruct and widen I-235 and replace the NW 50th Street and BNSF railroad …
Tulsa Federal Judge Tosses Challenge to Merger of Williams Cos. and Energy Transfer Equity
Tulsa Federal Judge Gregory Frizzell has tossed a legal challenge filed against the merger of the Williams Companies, Inc. and Energy Transfer Equity of Dallas, Texas. The judge ruled against John Bumgarner, a Williams company retiree who was a senior vice president of planning and development for the company. He contended that statements made at the …