Dallas-based Holly Energy Partners, L.P. has declared a cash distribution of $0.575 per unit for the first quarter of 2016, That’s a 7.0% increase compared to the $0.5375 per unit distribution declared for the first quarter one year ago. In announcing the cash distribution, Holly Energy said it was reflective of the company’s strong and …
Texas based Halliburton, like many energy companies is reporting a drop in revenues in its latest quarterly information. The $4.2 billion in revenue for the first quarter of 2016 is a 17 percent decline compared to a 21 percent drop in the worldwide rig count. In releasing its figures, the company blamed “disruptive market conditions” …
The nation’s oil and gas rig count declined by another 9 in the past week while the count in Oklahoma and many surround energy-producing states remained unchanged. The national count fell to 431 with 8 fewer oil rigs and one less gas rig. The oil count fell to 343 while the gas rig count slipped …
The University of Oklahoma College of Law will offer a new Master of Legal Studies degree in oil, gas and energy law beginning in the fall of 2016. The program is designed for non-lawyers. The program is a 32-credit-hour graduate degree that can be completed in 15 months. Of the 32 credit hours, 28 …
Halliburton Co. said Friday that it cut more than 6,000 jobs in the first quarter, continuing a purge at the oilfield services company that has reduced its workforce by one third since late 2014. The company revenue in the first quarter fell to $4.2 billion, a 40 percent decline from the first quarter of 2015. …
Oil futures finished lower Thursday, pulling back after posting healthy gains over the past two sessions and reaching their highest levels of the year, according to Bloomberg MarketWatch. Traders weighed mixed fundamental influences for the market, with support from separate data showing China’s oil imports jumped last month and U.S. crude production fell last week, …
Tulsa-based NGL Energy Partners LP announced on Wednesday several strategic actions along with updated guidance, according to a company press release. The company disclosed a $200 million private placement of 10.75% Class A Convertible Preferred Units and formation of a strategic relationship with funds managed by Oaktree Capital Management L.P. “I believe this is a very positive …
Confusion grows on reports of how many have died in the explosion of a petrochemical plant on the southern coast of the Gulf of Mexico. One report said at least three persons died while another said up to 13 people were killed in the blast that was felt up to six miles away Wednesday. Luis …
Two more energy-related bills were signed into law this week by Oklahoma Governor Mary Fallin, one concerning wastewater from oil and natural gas wells and the other regarding gross production taxes on those wells. Senate bill 1122, by Senators A.J. Griffin and Eddie Fields and Rep. Kevin Calvey is an act requiring state agencies to …
The first shipment of North Dakota Bakken crude oil since the lifting of a 40-year old ban on exports has arrived in the Netherlands. A tanker carrying 175,000 barrels of oil was unloaded this week in Rotterdam, Netherlands. The ban on oil exports was lifted by Congress and the President in December. The Associated Press …
