A decision is coming soon from utility regulators in New Mexico that could mean a $23 a month bump up for customers of Public Service Company of New Mexico. It’s a $170 million rate case and much of it centers around the utility’s Four Corners Power Plant, New Mexico’s last remaining coal plant. …
Category: Oil & Gas
Nine Energy records 3Q losses—expects more in 4Q
Nine Energy Service recorded more losses in the third quarter, and the company leader expects more of the same in the fourth quarter. The Houston company, with offices and operations in Oklahoma, experienced a $10.1 million or 26 cent a share net loss on revenues of $138.2 million. Its adjusted EBITDA was $14.3 million. …
Coterra made earnings gains in the 3Q
Coterra Energy reported increased net income in the third quarter of the year. In an announcement, the Houston company, with operations in Oklahoma recorded net income of $252 million or 34 cents a share and adjusted net income of $233 million and 32 cents a share. The net income was an improvement over …
Few rig count changes in nation’s shale plays
The Permian Basin remained nearly unchanged over the past week in its oil and gas drilling activity. The weekly rig count released by Baker Hughes Co. showed the Basin experienced a decline of only one rig, leaving 303 still drilling in West Texas and Southeast New Mexico. It was the most active of the …
Mammoth Energy recorded 3Q net loss but also payments for 2017 Puerto Rico hurricane work
The leader of Oklahoma City’s Mammoth Energy Services says it appears “softness” across the company’s well completion services marakets appared to “have bottomed” in the third quarter and a rebound is anticipated in the fourth quarter. The company still suffered growing losses in total earnings but at the same time, is debt free. It’s the …
Oklahoma to pick new Corporation Commissioner
Voters will choose a new Corporation Commissioner in Oklahoma, someone to replace longtime commissioner Bob Anthony who is term-limited after serving since January of 1989. Whoever wins Tuesday’s general election will not be able to accomplish Anthony’s historical length of time as a statewide elected officer. Term limits took effect in Anthony’s time in office …
OERB adds two new directors to board
Two new members were recently named to the board of directors for the Oklahoma Energy Resources Board. They are Mark Brown of Camino Natural Resources and Curtis Johnson of Citizen Energy. Brown is the Executive Vice President of Land and Business Development at Camino Natural Resources. He joined Camino in July 2017, shortly after its …
Energy briefs
** AT&T said it had struck a $1 billion multi-year deal with Corning to buy fiber, cable, and connectivity solutions, as the U.S. telecom giant looks to expand its high-speed internet services. ** Boeing reportedly dismantled its global diversity, equity and inclusion (DEI) department as part of an overhaul of its operations ordered by the company’s …
3Q earnings report to be released by SandRidge Energy
Oklahoma City’s SandRidge Energy will release its third quarter earnings report this week. The release on Wednesday, Nov. 6 after the close of trading will give investors an idea whether the company improved after second quarter net earnings fell from the first quarter of the year. SandRidge also plans a conference call on Thursday, …
Oklahoma slipped by one, US unchanged in latest rig count
Oklahoma’s oil and gas rig count fell by one in the past week to 42 active rigs in the state, based on the latest Rig Count by Baker Hughes Co. released on Friday. A year ago, Oklahoma had 36 active oil and gas rigs. The new report indicated the total of oil and gas …