Laredo Petroleum, Inc. announced this week its $715 million acquisition of Sabalo Energy, LLC, a Corpus Christi, Texas- portfolio company of EnCamp Investments L.P. The deal involved $625 million in cash and nearly 2.5 million shares of Laredo common equity and expands holdings by another 21,000 contiguous acres near Big Springs in Howard County, Texas. …
The Oklahoma legislature plants joint House and Senate hearings to explore the utility cost issues that arose from the February winter storm that smashed Oklahoma, Texas and other Midwestern states. The House and Senate announced the hearings on Tuesday. Committee members will hear from a number of industry stakeholders regarding various topics concerning the winter …
At least 56 janitorial workers for Ohio-based ABM Industry Groups are losing their jobs over a new contract for services at Oklahoma City’s Chesapeake Energy campus. ABM Industry Groups, LLC, based in Cleveland, Ohio informed the Oklahoma Office of Workforce Development that it would no longer provide janitorial services for Chesapeake Energy effective July …
The shutdown of the Colonial Pipeline after being hacked prompted Total SE to reduce its gasoline production at its refinery in Port Arthur, Texas. The company did not comment about the reduced operation of its 225,500 barrel-a-day refinery. Reuters reported that production on the gasoline-producing fluidic catalytic cracker was trimmed by more than 25% of …
** An administrative law judge rules that Minnesota Gov. Tim Walz can move forward with clean vehicle emission standards without legislative approval. ** Canadian electric vehicle company Lion Electric announces plans to build a $70 million electric bus manufacturing plant in Illinois. ** By 2027, electric vehicles, including larger SUVs and vans, will cost less to produce than fossil-fuel powered vehicles, BloombergNEF predicts. …
Devon Energy Corporation announced Monday that it is commencing private exchange offers and related consent solicitations with respect to the series of nearly $2 billion in outstanding notes of WPX Energy, Inc., a wholly-owned, direct subsidiary of Devon. Devon said it was also soliciting consents from the eligible noteholders to amend the WPX notes and …
Monday’s crude oil prices rose just a few cents in trading in the US and in Europe, but at least you can say they increased. West Texas Intermediate crude for June delivery rose 2 cents to $64.92 a barrel on the NYMEX. Global benchmark Brent crude for July delivery increased 4 cents to $68.32 …
** Limetree Bay said Sunday air quality testing near its U.S. Virgin Islands refinery found zero concentrations of sulfur dioxide, hours after the National Guard said it found elevated levels of the chemical during its own testing. ** California’s energy policy and planning agency wants to transition new homes away from gas-powered appliances. The California Energy Commission …
The federal government reported this week that the February 2021 winter storm that hit Oklahoma and Texas hard resulted in the largest monthly decline of natural gas production on record. The Energy Information Administration reported that at the same time, residential sector consumption reached a record high. The historic results came as a record-breaking …
Devon Energy CEO Richard Muncrief is one of three energy company leaders asked by anti-oil Democrat Katie Porter of California to testify next week before the U.S. House Natural Resources Oversight subcommittee. Whether he, Exxon Mobil CEO Darren Woods and EOG Resources CEO William Thomas will attend is another matter. POLITICO reported this week …
