Seventy Seven Energy Inc. missed analyst expectations on Monday and reported a first-quarter net loss of $59.6 million, or $1.09 a share, as reported by Adam Wilmoth of The Oklahoman. The Oklahoma City-based oil field services company’s first-quarter earnings were down from a net loss of $37.6 million, or 78 cents a share from a …
Category: General
Trump Lands Endorsement of Oklahoma Oil Billionaire Harold Hamm
Oklahoma oilman Harold Hamm has come down on the side of Donald Trump in the race for the White House. The founder of Continental Resources said Trump’s the kind of man with the “fortitude to make tough decisions.” and is “a business leader’s candidate.” Hamm, the 2012 energy adviser to GOP Presidential candidate Mitt Romney …
Busy Week for U.S. House Energy and Commerce Committee
Oklahoma Congressman Markwayne Mullin and other members of the U.S. House Energy and Commerce Committee meet Tuesday to vote on reauthorization of the Pipeline and Hazardous Materials Safety Administration. The measure would also direct the Administration to increase transparency and accountability and finish long overdue regulations. It is among numerous bills to be marked up …
Corporation Commission to Hold Thursday Hearing into $500 million OGE Scrubber Plan
Oklahoma Corporation Commissioners will hold deliberations Thursday in the third try by Oklahoma Gas and Electric to win approval for the installation of $500 million in scrubbers to the utility’s Sooner coal plant. It’s a move that has been denied twice previously by the commission, but if approved this time, would eventually lead to higher …
Bill Controlling Drone Flights in Oklahoma Still Alive in the Legislature
A Drone bill is closer to being sent to Governor Mary Fallin for signature into law. House Bill 2599, authored by Sen. Ron Sharp would restrict flights of unmanned aircraft over “critical infrastructure” less than 400 feet above ground or past their fence lines. The Senate passed the measure last week and returned it to …
Inhofe Says US Purchase of Iran’s Heavy Water is Wrong
Oklahoma U.S. Senator Jim Inhofe says the U.S. should not be “rewarding bad behavior” by spending nearly $9 million to purchase 32 tons of heavy water from Iran in order to help the country comply with the Iran Nuclear Deal. The senior member of the Senate Armed Services Committee continues to be critical of the …
Severe Weather in Northern Oklahoma’s Tuesday Forecast
Those who work in the oil and gas fields of northwestern Oklahoma as well as electrical company workers will want to know that Tuesday could bring severe weather to the region. It’s the forecast from News 9 meteorologist Jed Castles. “Many of the ingredients are coming together for severe weather Tuesday. Parts of our region …
OCC’s Dana Murphy Commends Legislature on Passage of New Tool in Earthquake Response
Oklahoma Corporation Commissioner Dana Murphy thanked Governor Fallin and lawmakers who worked to pass House Bill 3158, clarifying the authority of the Corporation Commission (OCC) to respond to the risk of induced earthquakes. The bill allows the OCC to take emergency action with regard to disposal well operation or other activities within its jurisdiction when public safety …
Houston Firm Makes $102 million Assets Purchase
Despite the downturn in oil and gas prices, Houston-based Black Stone Minerals L.P. has made a $102 million purchase of 1.2 million acres of assets in Texas, Louisiana and Arkansas. The company made the purchase from Freeport-McMoRan Oil and Gas. “This transaction is a great example of the type of package that Black Stone likes to …
Inhofe—the Paris Climate Agreement Will Fail
Secretary of State John Kerry’s signing of the Paris international climate agreement this past weekend prompted Oklahoma U.S. Sen. Jim Inhofe to call it an agreement that President Obama cannot deliver his commitments. “His so-called Clean Power Plan, the centerpiece of his efforts, has been rejected by a bipartisan majority in Congress and lacks support …