Gulfport Energy Corporation in Oklahoma City reported it lost $517 million in the first quarter of the year despite reducing total long-term debt by nearly $80 million and improving its drilling efficiencies. The company reported its net loss of $517.5 million amounted to $3.24 per diluted share and its adjusted net income was $16.6 million …
Oklahoma City-based Panhandle Oil and Gas reported a $20 million net loss or $1.21 a share in the quarter ending March 31, 2020 on top of a non-cash impairment of $29.5 million. The $20 million loss caused a continuing hit on the company’s net income which a year ago was a loss of $1.9 …
A move started three years ago by the Oklahoma legislature to protect energy pipelines and projects from protesters saw another state adopt similar efforts this week. Alabama lawmakers this week advanced legislation to add new criminal penalties to nonviolent protests against pipelines and other fossil fuel projects, setting a course to become the fourth state to …
A bipartisan group of senators called on the president to reject a previous request for Renewable Fuel Standard waivers from five oil-state governors, reported POLITICO. It means Oklahoma Governor Kevin Stitt finds himself in a political fight with Senators who are from mostly corn-producing states that rely heavily on the production of biofuels. “Waiving the RFS …
** Great River Energy will close a major coal plant in North Dakota several years early as it grows too costly to run while adding 1,100 MW of wind to its portfolio. As part of its coal transition, Great River Energy will repower a 99 MW coal plant in North Dakota to run on natural gas. North Dakota coal advocates raise concerns about …
The number of active rigs in Oklahoma and the rest of the U.S. dropped even further in the past week, leaving only 13 drilling for new energy in Oklahoma and 374 nationally. Baker Hughes Co. reported Oklahoma suffered the loss of two more rigs leaving 13 actively drilling compared to 102 a year ago. …
Oklahoma Corporation Commissioner Bob Anthony is now speaking publicly for the first time since he voted last month against allowing a Tulsa oil company to shut-in its oil production because of the COVIS-19 outbreak and the following oil crisis. In a filing on Friday, Commissioner Anthony formally issued his dissent statement, saying the emergency order …
The oil crisis combined with the coronavirus pandemic has resulted in the layoff of more workers in Oklahoma. The impact has reached a beverage company in Oklahoma City and Muskogee where up to 75 workers were laid off this week. A & B Beverage Company, LLC, a family-owned business located at 5500 W. Reno,Suite 200 …
If one investment expert’s prediction is correct, we won’t see as many jetliners flying in and out of Oklahoma City’s Will Rogers World Airport nor the Tulsa International Airport for sometime to come. If anything, instead of national travel, business leaders will be resorting to the fast-growing Zoom video-conferencing tool. It’s the prediction and analytical …
The combination of the coronavirus pandemic and the oil crisis left Canadian pipeline operator Enbridge Inc. with a first quarter loss of at least $1.4 billion but its total was $4 billion that included charges related to investments and derivative losses. It means losses for Oklahoma too. It’s a loss that affects Oklahoma because …
