Gulfport Energy Corporation reported $129.5million in net cash provided by its operating activities and $80.3 million of free cash flow in the second quarter of the year. Total net income was $256.6 million and $204.5 million of adjusted EBITDA. As a result, the Oklahoma City company increased its borrowing base to $1 billion from …
Category: General
Mammoth Energy sees strong 2Q with more growth expected
As Mammoth Energy Services reported a strong second quarter, the company went from a loss to a gain in its net income. Total revenue was $89.7 million for the second quarter of 2022, as compared to $47.4 million for the same quarter last year and $62.3 million for the first quarter of 2022. …
Record revenues for Tulsa’s Alliance Resource Partners
Coal company Alliance Resource Partners, L.P. based in Tulsa reported a 70% increase in second quarter total revenues, reaching a record $616.5 million. The company said the amount compared to $362.4 million in the second quarter of 2021 as a result of higher coal sales prices and volumes, which rose 43.3% and 13.9%, respectively, and …
Manchin defends his support for Dems’ spending bill
In case you missed it, West Virginia Sen. Joe Manchin faced some tough questions about his support for the Democrats spending bill that includes billions to fight climate change. It happened on Fox News Sunday. Click here for Fox News Sunday
Runoff election in Oklahoma Corporation Commission race a few weeks away
Oklahoma voters will decide in a few weeks who the Republican candidate for Corporation Commission will be. They will have a choice between two former legislators—former State Senator Kim David and former State Representative Todd Thomsen. Read more with McCarville Report
Arkansas regulators say no to settlement with Entergy
Arkansas regulators rejected a proposed $142 million settlement with Entergy concerning cost overruns at a Mississippi nuclear plant. The Arkansas Public Service Commission said the offer did not include a cash refund for Arkansas customers reported the Arkansas Democrat-Gazette. Click here for Democrat-Gazette
Additional headlines
** BP became the latest energy company to announce huge profits on Tuesday (August 2). The company said it made a second quarter profit of just under $8.5 billion – its highest in 14 years. ** A deal has been secured for Congress to pass and President Joe Biden sign a permitting package to speed up the completion …
Senators to fight Democrats’ spending bill
Republicans in the U.S. Senate, likely to include Oklahoma U.S. Sens. Jim Inhofe and James Lankford are expected to employ a little-used strategy in fighting the Democrats’ $433 billion spending bill, one aimed at climate change. Bloomberg reports that they’re planning to challenge many of the provisions in the 725-page, $433 billion bill using …
Oklahoma Stock Closing Prices as of Monday, August 1, 2022
Alliance Resource Partners, L.P. 22.93 USD+1.02 (4.66%) Blueknight Energy Partners LP Common Stock 4.67 USD+0.0100 (+0.21%) Chesapeake Energy Ord Shs 90.42 USD-3.75 (3.98%) Continental Resources, Inc. 67.93 USD+1.39 (1.39%) Coterra Energy Inc 29.57 USD-1.02 (3.33%) Devon Energy Corp 61.57 USD-1.28 (2.04%) Empire Petroleum Corporation 10.75 USD-0.25 (2.27%) Gulfport Energy Corp 86.29 USD-5.75 (6.25%) Helmerich & Payne, Inc. 45.27 USD-1.03 (2.22%) LSB Industries, Inc. 13.28 USD-0.53 (3.84%) Laredo Petroleum Inc 86.44 USD-2.23 (2.51%) Magellan Midstream …
Regulatory Commission Chairs Recommend Power Reliability Forum to Improve Infrastructure
As extreme weather continues to strain the nation’s electric grid, FERC Chairman Rich Glick and Jim Robb, President and CEO of the North American Electric Reliability Corporation (NERC), encouraged the North American Energy Standards Board (NAESB) to convene a forum to identify solutions to the reliability challenges facing the nation’s natural gas system and bulk …