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IOGCC Meeting Approaching in Denver
Registration has opened for the upcoming annual meeting of the Interstate Oil and Gas Compact Commission in Denver, Colorado. It will be held May 15-17, 2016.
The Council of State Regulatory Officials including state and provincial regulators wi…
Oklahoma Oil Downturn Notihng Like 1931 Forced Oilfield Shutdown by Governor
Eighty-five years after then Oklahoma Governor Alfalfa Bill Murray took the drastic action of shutting down the State’s oilfields and 3,000 oil wells because of plummeting oil prices, the state faces another dramatic downturn in the oilpath. Howe…
Saudi Arabia Balks at Production Cuts, Confuses Crude Markets on Thursday
After all the talk from other OPEC producers, the one that counts won’t commit to caps or cuts creating a mixed day for crude contracts. March West Texas Intermediate crude on the New York Mercantile Exchange added eleven cents to settle at $30.77 a ba…
CVR Refining Turns a Full Year Profit, Net Loss in Fourth Quarter
CVR Refining which owns the Wynnewood Refining Company reported a net income dropped to $291.2 million in 2015 compared to 2014’s net income of $358.7 million. Net sales in 2015 totaled nearly $5.2 million dollars.
While a profit is welcome during the…
Williams Reports Increases in Quarterly and Yearly Earnings
With a 25 percent increase in fourth quarter earnings and a 22 percent jump in full year earnings, Williams Cos. based in Tulsa is pushing ahead with its planned merger with Dallas-based Energy Transfer Equity. However, the company also reported …
Phillips 66 Makes $236 million Purchase of Storage Caverns and Franctionator
Thousands might have been let go in the past several months in the nation’s energy sector, including the 1,000 this week at Oklahoma City-based Devon Energy, but some companies are pushing ahead with multi-million dollar acquisitions.
The latest…
Devon Waits to See What Happens with 69 milion Share Public Offering
On the same day Devon Energy released its financial earnings reports and started layoffs of 1,000 workers, the company also made an upsized public offering of 69,000,000 shares of its common stock at a price to the public of $18.75 a share. At th…
Naiton’s Rail Crossings to be Improved on Energy Routes
Nearly $10 million in grants for nine projects in eight states to upgrade and increase the safety of railroad crossings along energy routes have been announced by the Federal Railroad Administration. The grants will go to California, North Dakota, Wisc…
Executive Changes at Devon Energy and ConocoPhillips
Changes in the executive leadership at Devon Energy Corp. and ConocoPhillips were announced this week. The Devon announcements were lost in the news that the company laid off 700 workers at its headquarters and 1,000 company wide.
Darryl Smette…
Chesapeake’s Financial Woes Force George Soros to Dump Stock
Billionaire George Soros doesn’t like what he sees financially in Oklahoma City-based Chesapeake Energy and this week dumped his shares in the company.
The founder of Soros Fund Management LLC also withdrew stakes in Chevron Corporation and NRG …