Oklahoma City-based Flogistix expanded its manufacturing capabilities with the opening of its new El Reno manufacturing plant today. With this addition, the company will have 259,000 square feet of manufacturing space for vapor recovery units (VRU) and other compression technologies as it scales up its workforce with the addition of more than 150 new jobs …
Oklahomans who suffered earthquake damage near Pawnee may be eligible to participate in an $850,000 class action settlement. According to a recent notification, a settlement was reached in a lawsuit involving the operation of wastewater disposal wells by Eagle Road Oil, LLC between November 15, 2014 and the Effective Date. A series of powerful earthquakes …
SandRidge Energy, Inc. saw improved earnings in the second quarter, reporting $53.7 million in generated adjusted EBITDA compared to $39.4 million in the first quarter of the year. Second quarter net income totaled $48.5 million or $1.32 per basic share while adjusted net income was $48.9 million and $1.33 per basic share. Even though …
Oklahoma Natural Gas came out this week indicating it might have a disagreement with Oklahoma regulators over taxes and those winter storm ratepayer-backed bonds, but it doesn’t oppose an effort to collect them. At the same time, the Oklahoma Municipal League wants things to slow down regarding the issue. In a filing this …
Blueknight Energy Partners, L.P. reported its financial results for the second quarter ended June 30, 2022 were down from the previous year. Income from continuing operations for the Tulsa-based company was $6.3 million in the second quarter of 2022, compared to $7.1 million for the same period in 2021. The year-over-year decrease was primarily due to non-recurring legal and professional …
Denver’s Ovintiv Inc., the energy company with strong activity in Oklahoma’s STACK play, reported second quarter net earnings of $1.36 billion and the highest quarterly cash flow in more than a decade. Its cash flow was $1.22 billion while free cash flow totaled $713 million. Net earnings totaled $1.36 billion after-tax or $5.21 …
All it took was a government report to show crude and gasoline stockpiles unexpectedly surged last week and crude oil prices fell to nearly six-month lows. Prices dropped nearly 4% also as OPEC+ stated it would increase its oil output target by 100,000 barrels a day. West Texas Intermediate crude for September delivery …
A big second quarter for Laredo Petroleum was reported this week including net income of $262.5 million, cash flows from operating activities of $368.1 million, and free cash flow of $110.5 million. The company reported net income attributable to common stockholders of $262.5 million, or $15.41 per diluted share. Adjusted Net Income1 for the second quarter of 2022 was $127.8 …
Williams announced a direct investment in Aurora Hydrogen, a company developing technology that converts natural gas to hydrogen with zero carbon dioxide (CO2) emissions. Aurora Hydrogen’s technology uses microwave energy to convert methane to hydrogen and solid carbon without generating CO2. Williams’ investment will support scaling production to 200 kg of hydrogen per day, …
Second quarter earnings were so strong for Devon Energy and Diamondback Energy that the two companies raised production guidance and capital budgets for their activities in the Permian Basin. S&P Global reported Devon is raising its full-year 2022 production forecast by 3% to a range of 600,000-610,000 b/d of oil equivalent, owing to better-than-expected …
