After a first quarter cash flow of $1.7 billion and net earnings of $596 million, or $0.94 per diluted share, Devon Energy prepares to release its second quarter earnings of the year. The Oklahoma City company plans to release its earnings report on Tuesday, August 6 after the close of U.S. financial markets. The earnings release …
Category: Oil & Gas
OGE hands out fans to low income elderly
(As part of OG&E’s fan distribution program, John Koons, OG&E Community Outreach Coordinator; Allison Terrill, OG&E Community Outreach Coordinator; Paul Durrett, Salvation Army Social Services Manager; Kyle Sexton, OG&E Heavy Hauling Coordinator; and Victor Teran, OG&E Heavy Hauler pass out fans at the Salvation Army of Central Oklahoma to help keep local residents safe and …
Two new members named to OERB Board of Directors
The Oklahoma Energy Resources Board (OERB) announced the appointment of two new members to its board of directors. Lindsey Miles is the Vice President of Land and Regulatory at Devon Energy. She oversees more than two million net acres within the most prolific oil and natural gas plays in the United States. “I am thrilled …
Energy briefs
** The Supreme Court as soon as this week could rule to curb the power of federal agencies — including those with the power to protect the environment. As the Supreme Court’s term winds down, a legal doctrine called Chevron deference hangs in the balance. ** A sensor on the railroad tracks running through the town of East …
Judge opens the door for climate change lawsuit against oil industry in Colorado
A Colorado Judge has cleared the way for local governments to move ahead with their lawsuit wanting to hold oil and gas companies accountable for climate change damages. District Judge Robert R. Gunning ruled in the case of the lawsuit filed six years ago by the city of Boulder against Exxon Mobil and …
Devon Energy top bidder in auction of Permian Basin land
A Bureau of Land Management sale of public land in New Mexico and Kansas to oil and gas operators netted nearly $34 million and Oklahoma City’s Devon Energy was the largest bidder for some of the land in the Permian Basin. Devon acquired a 480-acre tract of land in Lea County in a bid …
Uinta Railway might still have a chance with the Supreme Court
A controversial rail line to carry oil from eastern Utah across Colorado still might have life after the U.S. Supreme Court agreed this week to consider an appeal of a lower court ruling that stopped the project. The 88-mile Uinta Basin Railway had initially received government approval but counties challenged the approval and …
Energy briefs
** Flooding on the Blue Earth River in Minnesota breached the Rapidan Dam Monday morning and it’s now in an “imminent failure condition,” officials said. Le Sueur County residents in low-lying areas of the Minnesota River Valley are advised to closely monitor the situation and potentially evacuate, according to the county’s emergency management office. ** US West …
Inflation slows Gulf Coast LNG projects
Rising inflation and a shortage of skilled labor are being blamed for delays in some LNG projects along the Gulf Coast. At least five liquefied natural gas projects in Texas and Louisiana and another 16 others are on the drawing board looking for investment and customers. Reuters reports however, that labor costs have …
Enviros complain of oil and gas industry lobbying against abandoned well cleanup
Pro-environment publications ProPublica and Capital & Main reported how the oil and gas industry has lobbied hard in some states, including Oklahoma, to sabotage abandoned well cleanup bills. They cited several instances, including in New Mexico where the oil and gas industry worked in writing regulations, then used its influence to change some of …