Chesapeake Energy Corporation announced Monday it had a new source of funding for its operations. The company said the new senior secured reserve-based revolving credit facility replaced its previous credit facility. In a filing with the Securities and Exchange Commission, Chesapeake would be able to obtain an initial borrowing base of $3.5 billion. …
Category: General
Buttigieg caught in a “Do as I say—not as I do” situation
When some Trump administration officials were caught using taxpayer-funded private jets, they faced almost instant public criticism and exposure by the press. Now that President Biden’s Transportation Secretary Pete Buttigieg has been caught doing the same thing, the criticism and questions aren’t making the same kind of headlines. Click here for Fox News
Keystone Pipeline leak still unsolved
The cause of the 14,000 barrel crude oil leak from the Keystone oil pipeline in northern Kansas remains a mystery, a leak that affected the flow of oil the Cushing Hub in Oklahoma. Canada’s TC Energy indicated over the weekend it had not been able to determine what caused last week’s leak near Washington, …
Railway merger fought by residents of one Iowa town
Residents of at least one small town in Iowa are putting up a fight against the proposed merger of two railroad companies, contending it will increase not only the number of trains but dangers to them. The $31 billion merger of Kansas City Southern, a railway that runs through eastern Oklahoma, and Canadian Pacific …
$2 billion capital program for Phillips 66 in 2023
Phillips 66 announced a 2023 capital program of $2 billion, including $865 million for sustaining capital and $1.1 billion for growth capital. Approximately 50% of growth capital supports lower-carbon opportunities. The capital program is consistent with the company’s commitment to maintain a $2 billion annual budget through 2024. “The 2023 capital program reflects our …
Moving up the corporate ladder at Alliance Resource Partners
A new executive was named by Alliance Resource Partners, L.P. The company’s Board of Directors of its general partner, Alliance Resource Management GP, LLC named Cary P. Marshall as Senior Vice President and Chief Financial Officer. The appointment will be effective April 1, 2023 and follows the partnership’s previously announced retirement of Brian Cantrell, …
Why isn’t Energy Department spending more on finding fraud and abuse? Rep. Lucas wants answers
Oklahoma congressman Frank Lucas raised questions about why the Inspector General at the Energy Department is underfunded. As Ranking member of the House Science, Space and Technology Committee, he and Texas Republican Rep. Randy Weber, who is also on the committee, sent a letter to the Appropriations Subcommittee on Energy and Water Development. The …
New Mexico urged to join regional power grid
New Mexico state leaders are considering the recommendation of a new study that encouraged the state to partner with other western states on a regional power grid. The report by Advanced Energy Economy explained that by doing so, New Mexico would gain nearly 18,000 jobs and save power users millions of dollars on their …
Supreme Court is asked to consider issue of trains and blocked streets
Oklahomans have long faced the troubling issue of trains blocking streets and now the U.S. Supreme Court has been asked to consider the issue nationally. Courts across the U.S. have ruled that only the federal government can enforce rules affecting railroad operations but the state of Ohio now wants the Supreme Court to set …
Tulsa and Osage Nation launch drone corridor effort
With the help of the Osage Nation, the city of Tulsa wants to become a drone corridor in Oklahoma. The effort involves Osage Nation’s Skyway 36, an autonomous flight technology center north of downtown Tulsa. Skyway 36 is part of the Tulsa Regional Advanced Mobility Corridor project according to the Tulsa World. Click here …