A federal bankruptcy court in Delaware recently granted a summary judgment motion in favor of a Grand Mesa Pipeline, LLC customer, ruling Extraction Oil & Gas, Inc.’s Transportation Sales Agreements do not reflect a valid covenant that runs with the land under Colorado law. In a press release issued on Monday by Tulsa-based NGL Energy …
Category: Oil & Gas
Wynnewood Citations Affirmed by 10th Circuit Court of Appeals
The 10th U.S. Circuit Court of Appeals recently affirmed workplace safety citations against Wynnewood Refining Co. LLC following an oil refinery explosion in 2012 resulting in the deaths of two workers, according to an article published by Business Insurance. The incident arises from alleged safety violations at the Wynnewood, Oklahoma oil refinery where workers were …
WTI, Brent Crude Settle Near $40 a Barrel on Wednesday
Crude oil futures finished lower on Wednesday as investors weary over an uptick in global coronavirus infections which may lead to further disruption within a fragile economic environment. West Texas Intermediate crude spiked before settling at $39.00 a barrel on the New York Mercantile Exchange. Brent crude futures rose to $41.00 per barrel earlier in the …
FERC Complaint Lodged Against CenterPoint Over Secret Hedge Fund Involvement
Houston-based CenterPoint Energy is the target of a recent Federal Power Act complaint filed by two consumer adversary groups with the Federal Energy Regulatory Commission. Public Citizen and Citizens Action Coalition of Indiana allege CenterPoint Energy failed to disclose its financial affiliation with New York-based hedge fund, Elliott Management Corp., led by billionaire Paul Elliott …
NRG Energy Appoints Lisa Donohue to Expanded Board
Houston-based NRG Energy announced the appointment of Elisabeth (Lisa) Donohue as a new Independent Director to its Board of Directors effective October 5, 2020, according to a company press release issued Monday. “The Board is pleased to welcome Ms. Donohue as our newest Independent Director; Lisa’s distinguished consumer- and digital-focused career will bring valuable diversity of thought and expertise …
Judge Acquits Arkema, CEO and Former Plant Manager From 2017 Chemical Fire Charges
A Texas judge acquitted the U.S. arm of French chemical maker Arkema SA and a top executive of criminal recklessness stemming from a 2017 blaze that injured 21 people, according to Reuters. The verdict, rendered Thursday, ends all charges against Arkema and its managers. The company’s Crosby, Texas, plant became waterlogged and lost power needed …
Senior Management Changes at Basic Energy Services
Texas-based Basic Energy Services, Inc. announced the resignation of CFO David Schorlemer in order to pursue other interests. He will remain as the company’s Executive Vice President, Chief Financial Officer, Treasurer and Secretary until October 9, 2020. “On behalf of the Board of Directors and the entire Company, I’d like to express our thanks to David …
Black Bear Transmission Completes Divestiture of Ozark Gas Gathering Assets
Houston-based Black Bear Transmission LLC announced that it has completed the divestiture of all the assets owned by Ozark Gas Gathering, L.L.C. to an undisclosed buyer, according to a company press release issued on Wednesday. This divestiture follows two bolt-on acquisitions completed by Black Bear this year – the purchase of the Ozark Gas Transmission …
KPMG’s Manny Fernandez Appointed to HollyFrontier Board of Directors
Dallas-based HollyFrontier Corporation announced that Manny Fernandez will join its Board of Directors effective October 1, 2020, according to a company press release. Prior to his appointment, Fernandez was employed by KPMG LLP for more than 15 years and served in a number of leadership positions until his retirement in September 2020. Most recently, Fernandez …
OCC Discusses Oil & Gas Deputy Director Vacancy
The Oklahoma Corporation Commission meeting held on Wednesday was contentious as the commissioners discussed hiring a deputy director for the Oil and Gas Conservation Division. According to a report published by Janice Francis-Smith in The Journal Record, Vice-Chairman Bob Anthony offered recommendations to fill the vacancy but Chairman Todd Hiett and Commissioner Dana Murphy did …