Iowa regulators indicated they are about to give the go-ahead for a Texas energy company to build a 346 mile long Bakken oil pipeline carrying a $3.78 billion price tag. Two of the three members of the Iowa Utilities Board indicated they are prepared to approve the request made by Dakota Access LLC, a unit …
Mixed news of rising oil inventories coupled with unconfirmed reports that crude production restrictions may be a discussion item at Thursday’s biannual OPEC meeting in Austria sent oil futures rallying on Wednesday afternoon despite falling below $48 a barrel, according to Bloomberg MarketWatch. July West Texas Intermediate crude fell 9 cents, or 0.2%, to end …
Push back is underway against Reuters for a recent story that blamed Oklahoma’s oil industry for its $1.3 billion dollar budget gap and resulting large cuts in funding for education. It comes from the Independent Petroleum Association of America and its public outreach campaign, EnergyIndepth.org based in Dallas, Texas and accuses Reuters of ignoring some important …
All eight sitting members of the Chesapeake Energy Board of Directors were re-elected at a recent annual shareholders meeting held in Oklahoma City. R. Brad Martin was re-chosen as chairman of the board while Archie W. Dunham continued as Chairman Emeritus. Others re-chosen by shareholders were Vincent J. Intrieri, Robert d. Lawler who is also …
Two weeks after choosing not to make an interest pay of $21.5 million, Oklahoma City-based Seventy Seven Energy Inc. is apparently still on path toward filing Chapter 11 bankruptcy. The company announced May 13 it had entered into a second amended and restated restructuring support agreement with some of its lenders. It was a move …
The longest horizontal onshore lateral ever drilled in the U.S. has been announced by Halliburton. The company said it worked with Eclipse Resources Corporation to complete hydraulic fracturing on the lateral test well known as “Purple Hayes” in the Utica Shale. It had a lateral length of more than 18,500 feet and was completed with …
Despite posting healthy gains for a fourth consecutive month, oil futures fell while natural gas was up on Tuesday, according to Bloomberg MarketWatch. West Texas Intermediate crude for July fell 23 cents, or 0.5%, on the New York Mercantile Exchange, ending trade at $49.10 a barrel, after reaching slightly above $50 before settling lower. For …
Following a reduction in force of 78 employees earlier in March of this year, Tulsa-based D&L Oil Tools announced on Tuesday that it is eliminating 53 additional positions effective immediately, resulting in another decrease of almost 20 percent of its remaining workforce, according to the Tulsa World. “This has been an unbelievably tough year for …
Tulsa-based NGL Energy Partners LP recently reported a net loss of $207 million for the quarter ending March 31, 2016, which was also the end of the company’s fiscal year. It also said it made gains related to the sale of TLP GP and the early extinguishment of debt totaling $158.9 million. The adjusted EBITDA …
Ames, Iowa-based Renewable Energy Group, Inc is offering $132 million in senior notes in a sale that will end Thursday. The sale consists of 4.00% convertible senior notes due 2036 in a private placement to the qualified institutional buyers. The company has also granted the initial purchases an option to purchase up to another $20 …
