Two major farming operations in northeast Arkansas have developed the first agricultural energy project combined two different solar technologies as a means of transforming how they get power but also saving on energy costs. Southland Gin and Delta Farms, working with Craighead Electric Cooperative and Today’s Power, Inc. came up with the project that …
New Mexico’s oil and gas industry regulators were heavily criticized by environmental groups during a recent virtual public hearing on wastewater from petroleum extraction. Environmentalists argued against the reuse of wastewater for irrigating crops in the state reported Reuters. But their arguments were met with criticism from the state’s oil and gas groups. The state …
The number of 7-Eleven stores in the U.S. just increased by nearly 4,000 as Seven & I Holdings Co., the world’s largest convenience-store franchiser agreed to buy Marathon Petroleum Corp.’s Speedway gas stations in a $21 billion deal. The transaction, to be paid in cash and partly financed using debt, will add about 3,900 …
Not to be confused with Noble Energy, the firm just acquired by Chevron in a $5 billion deal, offshore drilling contractor Noble Corp. has filed for bankruptcy after citing $3.4 billion in debt. The Chapter 11 filing in Texas would eliminate all of the company’s bond borrowings by swapping debt for equity, the company …
While Tulsa’s Magellan Midstream reported what one advisor called “abysmal” earnings in the second quarter 2020, the pipeline company is still getting recommendations for investment. Motley Fool reviewed the second quarter results of the company after it reported a 24% drop in earnings. Click here to view the recommendations and highlights of the company’s …
New Mexico’s oil and gas industry is taking a major blow as Marathon Petroleum Corp., the largest U.S. independent oil refiner says it will not restart its refinery in Gallup. The company said it will also not restart a California refinery amid concerns that demand for fuels is not likely to return to levels …
The first words from mission control to the astronauts were a humorous welcome home: “Thank you for flying SpaceX.” The astronauts had a cheerful message for their flight doctors waiting to check them out as well: “Let them know we’re feeling good.” The Crew Dragon capsule splashed down into the Gulf of Mexico, finishing …
Once again COVID-19 and the pandemic have affected the bottom line of an Oklahoma energy company. Magellan Midstream Partners, L.P. based in Tulsa reported a nearly 52% drop in net income for the second quarter 2020. Net income totaled $133.8 million compared to $253.7 million in the second quarter of 2019. The company blamed …
While dealing with the economic challenges brought upon the oil and gas industry by the COVID-19 pandemic, Oklahoma City-based Chaparral Energy has entered into a second forbearance agreement with its lenders. And for a second time, it has avoided a more than $13 million payment on its notes. The company stated in a late-July …
The Oklahoma Corporation Commission has decided to reopen the Jim Thorpe headquarters building this week and hold in-person hearings during the COVID-19 pandemic. However, the in-person hearings will be on a limited basis according to the protocols drawn up by the Commission staff. The protocols will require participants to wear protective masks at all …
