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Gulfport Energy reports strong quarterly showing
Improved earnings and natural gas production for Gulfport Energy Corporation led the company to expand its stock repurchasing program. The company reported Tuesday its first quarter financial results showing $235 million of adjusted EBITDA. The company also said it was moving to expand its stock repurchasing program from $100 million to $200 million. In …
OK energy stocks had a strong day in trading while oil prices dropped
Those worries about China and its nagging COVID-19 lockdowns dragged down oil prices by more than 2% on Tuesday as Europe moved closer to a total embargo of Russian crude oil. But Oklahoma energy stocks had a good trading day. West Texas Intermediate crude oil for June delivery in the U.S. dropped $2.76 before settling …
Magellan Midstream hit with lawsuit alleging monopoly practices
Tulsa’s Magellan Midstream was accused of “anticompetitive practices” and running a pipeline monopoly in a lawsuit filed this week by Converge Midstream, LLC in Houston, Texas. Converge’s lawsuit, Converge Midstream Partners, LLC v. Magellan Crude Oil Pipeline Company, L.P. and Magellan Midstream Partners, L.P. was filed Tuesday in State District Court in Harris County, Texas. The …
Supreme Court upholds winter storm bonding law
In an 8-0 ruling, the Oklahoma Supreme Court ruled Tuesday that the state’s controversial winter-storm bonding securitization law, one created after the disastrous February 2021 Winter Storm Uri, was constitutional. And it ruled the bonds in question were properly authorized. The decision came in the initial request of Oklahoma Gas and Electric in its …
Mammoth annual meeting to be in-person
Mammoth Energy’s approaching annual meeting of stockholders will be an in-person gathering in Oklahoma City. It will not be a virtual meeting like previous ones prompted by the COVID-19 pandemic. In announcing the in person meeting in a proxy statement filed with the SEC, Mammoth stated that it would continue to monitor the public …
Gulfport’s annual meeting to be held in June
Gulfport Energy is preparing for the company’s annual shareholders meeting in June. The Board of Directors for the Oklahoma City company set the date for June 14 at 9 a.m. It will be a virtual meeting where shareholders will decide on the election of five directors, compensation to company executives and the ratification of …
ONE Gas reports improved earnings
As Oklahoma Natural Gas awaits a state supreme court ruling on its $1.4 billion securitization request because of the February 2021 winter storm, its parent company, ONE Gas, Inc. reported improved first quarter earnings of nearly $99 million in net income or $1.83 per diluted share. In announcing the earnings, the company said …
High cost of diesel fuel hits truckers and farmers
It’s not just the high cost of gasoline that is hitting American consumers. It’s also what it costs to pump a gallon of diesel fuel. Prices are at their highest level in Oklahoma according to the American Automobile Association—$5.18 a gallon in some places of the state. Imagine what that means to the American …
More new wells reported in Oklahoma
Recent completion reports showed more drilling activity in Oklahoma’s Kingfisher County with one company drilling two wells on a single pad and getting production of more than 1,000 barrels of oil a day. Hinkle Oil & Gas of Oklahoma City brought in the Lincoln Southeast Oswego Unit 57-3ho and the Lincoln Southeast Oswego Unit 58-4ho …
Waste Management expands renewable natural gas projects in OKC
Waste disposal and management giant, Waste Management Inc. announced plans to invest $825 million in expansion of its renewable natural gas infrastructure with more renewable natural gas plants in Oklahoma City and Springdale, Arkansas. Both should be online later this year reported Biomass Magazine. Click here for Biomass Magazine