Federal investigators blame “external corrosion” for the massive Plains All-American pipeline oil spill that occurred May 19, 2015 in Santa Barbara County, California and say the company could have prevented it. The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration, in a 510-page report, blamed the company’s failure to “protect the pipeline from …
The passage of the bill creating a $12.5 million cap on tax credits for at-risk oil and gas wells in Oklahoma by the State House didn’t come without some opposition. Although the 93-2 passage didn’t appear to offer much opposition, two Representatives, Cory Williams, a Democrat from Stillwater and Mike Brown, a Democrat from Tahlequah …
In a shocking move while burning the midnight oil prior to sine die adjournment, the Oklahoma House of Representatives suspended the rules late Thursday night and introduced an untimely filed amendment to Senate Bill 1577 which aims to cap the at-risk oil and gas well tax credit at $12.5 million annually for calendar years 2015-2020. …
Crude oil futures finished lower on Thursday as a possible June rate hike by the U.S. Federal Reserve factored into investor uncertainty, according to Bloomberg MarketWatch. June West Texas Intermediate crude fell 51 cents, or 1.1%, to end trading at $47.68 a barrel on the New York Mercantile Exchange. Earlier in the day, WTI traded …
An attorney who filed a class-action lawsuit in southern Oklahoma accusing SandRidge Energy of the same kind of conspiracy allegations leveled in federal lawsuits does not believe the company’s Chapter 11 bankruptcy will affect his suit. Attorney Jim Sill responded after SandRidge attorneys filed a stay for the suit in Stephens county, according to a …
Another Texas-based exploration and production company with deep interests in Oklahoma reports it experienced a net loss of $29 million in the first quarter of the year. EV Energy Partners, L.P. based in Houston says the loss figured to $0.58 per basic and diluted weighted average limited partner unit. The adjusted earnings before taxes …
It’s all about profit when it comes to drilling for oil and natural gas and producing it. Ask any of the energy producers who have gone to Chapter 11 reorganization bankruptcy. It’s also how the big companies continue to exist—making sure there is profit when a well is completed and starts producing. A report …
The U.S. Environmental Protection Agency wants to boost renewable fuels standards for 2017, increasing the amount of corn-based ethanol and biofuels that fuel producers will have to mix into diesel and gasoline. Under the standards announced this week, the EPA wants 18.8 billion gallons to be blended into the nation’s fuel supply next year which …
Another down week for ethanol production in the U.S. as the U.S. Energy Information Administration reports production was down 14,000 barrels a day from the previous week. The production ending May 13 averaged 948,000 barrels a day or 39.82 million gallons. The four-week average for ethanol production stood at 940,000 barrels a day which translates …
American Energy Partners, LP laid off almost half of its Oklahoma City workforce as company officials announced that they would wind down business operations over the course of the next few months, according to a report published late Wednesday by The Oklahoman. “After considerable thought and discussion with Aubrey McClendon’s family and our employees, we have …
