Inola, Oklahoma is now home to a $360 million Sofidel tissue manufacturing plant that became operational this week. The company announced the formal opening of the 1.8 million-square-foot plant capable of producing 120,000 tons of tissue a year. The plant is also the company’s second greenfield investment in the U.S. reported the Tulsa World. …
Feds help fund industrial rail expansion in Jonesboro
A federal grant of $2.5 million to the city of Jonesboro, Arkansas will result in an expansion of rail storage for industrial park manufacturers and create 100 new jobs and keep 400 others. The Commerce Department grant will help expand the rail storage for industrial park manufacturers according to KAIT News. Anthony Foti, Assistant …
Tax collections show coronavirus pandemic continues slamming Oklahoma’s economy
Oklahoma Treasurer Randy McDaniel says despite the COVID-19 pandemic, Oklahoma’s economy is doing “relatively” well. But the September revenue streams from tax collections show oil and gas remains weak. Three of the state’s four major revenue streams show contraction in September’s Gross Receipts to the Treasury report, similar to the picture seen in total …
Rail transportation update on COVID-19 impact
The railroad industry will have a chance Wednesday to tell U.S. Senators how the COVID-19 pandemic is affecting its business. Rail leaders will testify before the Senate Committee on Commerce, Science and Transportation. Dubbed “Passenger and Freight Rail: The Current Status of the Rail Network and the Track Ahead,” the hearing will examine the …
Special Corporation Commission meeting set for Wednesday
Oklahoma Corporation Commissioners will hold a special meeting Wednesday where they might make a decision on the hiring of a Deputy Director of the agency’s Oil and Gas Conservation Division. Staff members last week gave their recommendation on a top candidate to assist in the running of the division, but commissioners delayed a decision. …
Weir Group to Sell Oil and Gas Division to Caterpillar for $405 Million
The Scottish corporation Weir Group Plc has agreed to sell its oil and gas division to U.S. heavy equipment maker Caterpillar Inc. for $405 million in cash, as the engineering company focuses on its mining business. Shares of Weir surged 22.5% to 1,568 pounds, on track for their best day in more than 20 …
Nine Energy Service Announces Timing of Third Quarter 2020 Earnings Release and Conference Call
Nine Energy Service, Inc. has scheduled its third quarter 2020 earnings conference call for Thursday, November 5, 2020 at 9:00 am Central Time. Investors await word about the extent of the COVID-19 pandemic on the company’s bottom line. During the call, Nine will discuss its financial and operating results for the quarter ended September …
Noble Midstream Partners Announces Leadership Transition and Changes to the Board of Directors
Chevron’s acquisition of Noble Energy, Inc. resulted in some major changes in leadership roles. Noble Midstream Partners LP announced that its general partner, Noble Midstream GP LLC, has appointed a new Chief Executive Officer and new members to its Board of Directors. As a result of the completed Chevron Corporation acquisition of Noble Energy, …
Hurricane Delta Strengthens, Heading for Mexico, U.S. Coast
Oil and natural gas production in the Gulf of Mexico is being interrupted again as Hurricane Delta, the record 10th storm this season prepares to hit the southern states of Louisiana, Mississippi, Alabama and Florida. Delta is poised to clip the Yucatan Peninsula and at last report had become a Category 2 hurricane with …
Montana Governor asks court to block actions by Trump’s land boss
The governor of Montana on Monday asked a judge to block three sweeping land use plans that would open most U.S.-owned lands in the state to energy development, saying the documents were invalidated when the Trump administration’s public lands boss was removed for being in the post unlawfully. A judge last month ousted Bureau …