OGE Energy Corp., the parent company of Oklahoma Gas and Electric Company, and holder of 25.5 percent limited partner interest and 50 percent general partner interest in Enable Midstream Partners LP reported earnings of $1.26 per diluted share for the three months ended September 30, 2021 compared to earnings of $0.89 per diluted share for the third quarter of 2020. Here’s …
Category: General
Improved quarterly finances for Cactus
Cactus, Inc. reported a 6% increase in its third quarter revenue which totaled $115.4 million for the Texas-based drilling and manufacturing company. With operations in Oklahoma and other oil and gas states, the Houston firm reported third quarter net income of $17.2 million and adjusted net income of $14.7 million and diluted earnings per …
Nine Energy blames losses on labor shortage
“Because of our inability to field labor, we were unable to complete all anticipated wireline jobs in the region.” CEO Ann Fox The labor shortage caught up this week with Nine Energy Service’s bottom line as the Texas company reported a more than $16 million net loss in the third quarter 2021. Its revenues …
Stitt banks on attracting Mexican energy business
Oklahoma Gov. Kevin Stitt hopes he was able to convince energy executives in Mexico to bring their businesses to Oklahoma. The Governor traveled to Mexico City this week as part of an effort to attract new industries and business to the state. “I told Oklahomans that I was a businessman, that I would bring …
Energy Transfer/Enable Midstream
Ahead of the government’s expected approval of its merger with Oklahoma-based Enable Midstream Partners LP, Texas-based Energy Transfer reported third quarter net income of $635 million, an increase of $1.29 billion from a year earlier. Energy Transfer announced its $7 billion Enable Midstream merger in February but still awaits Hart-Scott-Rodino Act clearance. It is …
Nominee confirmed for EPA’s top lawyer
The U.S. Senate on Wednesday confirmed Jeffery Prieto to become the top lawyer for the Environmental Protection Agency, but it came without the support of Oklahoma U.S. Sens. Jim Inhofe and James Lankford. His nomination, recommended last month by the Senate Environment and Public Works Committee on a 12-8 vote, with member Sen. Inhofe voting …
LSB to be part of investors conference
LSB Industries, Inc. plans to take part in the upcoming Morgan Stanley Virtual Chemicals, Agriculture and Packaging Conference. The Oklahoma City-based company’s Executive Vice President & CFO, Cheryl Maguire will participate in a fireside chat when the conference is held Wednesday, November 10, 2021. Her chat is scheduled for 2:30 p.m. Central Time. …
Government begins sale of Permian Basin land in New Mexico
The first sale of public land to the oil and gas industry in Southeast New Mexico since President Biden took office with his anti-oil and gas stance started this week. The Carlsbad Current-Argus reports it involves 520 acres in Lea and Chaves counties and in the Permian Basin. Click here for Carlsbad Current-Argus.
Customers get a break from historic gas costs in El Paso
A sigh of relief for El Paso natural gas customers of Texas Gas Service. They won’t have to pay as much as feared to help Texas Gas pay for some of its costs linked to the big freeze of last February. The El Paso Times reports the city has reached a settlement with the …
Cushing’s crude stocks continue to decline
The amount of crude oil stocks went up surprisingly by 3.3 million barrels in the U.S. in the past week but crude in storage at the Cushing hub in Oklahoma continued to decline. The U.S. Energy Information Administration reported Wednesday a tightening of the U.S. oil market supply with stocks in Cushing at their …