ConocoPhillips announced that it has completed its acquisition of Shell Enterprises LLC’s prolific Delaware basin position for $9.5 billion in cash. After customary closing adjustments, cash paid for the acquisition is approximately $8.6 billion, with an effective date of July 1, 2021. The assets include ~225,000 net acres and producing properties located entirely in Texas, …
Centennial Resource Development announces closing of non-core asset divestiture
Denver-based Centennial Resource Development, Inc. announced it has closed the previously announced sale of non-core assets to affiliates of Henry Resources, LLC and Pickering Energy Partners, LP for a cash purchase price of $101 million, subject to customary closing adjustments. The properties sold include approximately 6,200 net leasehold acres and related assets located on …
SandRidge Energy, Inc. to be part of energy conference
SandRidge Energy, Inc. plans to take part in an upcoming energy conference. It will participate in the Capital One Securities 16th Annual Energy Conference to be held virtually on December 6-8, 2021. The presentation materials to be used at the conference are available on the Company’s website at http://investors.sandridgeenergy.com/Investor-Relations.
Slight increase in crude storage at Cushing
The amount of crude oil stored in the Cushing hub improved only a little this week compared to last week as the massive operation holds only about a third of what it can contain in storage. The U.S. Energy Information Administration reported Wednesday that the amount of crude in storage at the facility totaled …
Questions raised about EPA’s Renewable Fuel Standard
A research scientist at the University of Michigan contends the U.S. biofuel mandate certainly helps American farmers but does little for energy security and actually harms the environment. It’s the contention of John DeCisso, Research Professor Emeritus who argues the Renewable Fuel Standard, one that came into focus in an unsuccessful lawsuit involving an …
Regulators approve rate hike for ONG customers
The Oklahoma Corporation Commission has approved a settlement agreement which will result in an estimated rate increase of 34 cents in the monthly bill of an average residential Oklahoma Natural Gas (ONG) customer. Residential ONG customers who use for than 5,000 dekatherms will see a monthly increase of 50 cents per month according to …
Oil prices drop again–OK energy stocks hit hard
An early rally failed Wednesday as crude oil prices sunk again, largely on growing worries about the Omicron variant and how it could cut demand as global supply grows. As a result, Oklahoma energy stocks took a pounding. The decline occurred after U.S. government officials confirmed the variant had been discovered in California …
OGE Energy Corp. board of directors declares dividend
OGE Energy Corp. announced that its Board of Directors has approved a first quarter dividend of $0.41 per common share of stock, to be paid January 28, 2022, to shareholders of record on January 10, 2022. OGE Energy Corp. is the parent company of OG&E, a regulated electric utility with approximately 876,000 customers in Oklahoma and western Arkansas. In addition, OGE Energy …
Chesapeake Energy Corporation launches new ESG site
Chesapeake Energy Corporation took another step toward improvement of hits environmental, social and governance efforts. The Oklahoma City company announced the launch of its environmental, social and governance (ESG) microsite — a site dedicated to the company’s ESG reporting and progress toward its climate-related targets. In addition to providing performance data and program updates, …
Mammoth Energy announces fiber construction and installation contracts
Mammoth Energy Services, Inc. announced that its fiber division, which was organically started only a few months ago, has been awarded two fiber-related contracts with two different electric cooperatives in the Midwest. Under one of the contracts, the company will provide make-ready construction services in preparation for fiber installation. Under the second contract, the …
