OGE Energy Corp. announced that its Board of Directors has approved an increase in the company’s quarterly dividend to $0.41 per share from $0.4025 per share, which equates to $1.64 per share annually. The increase is effective with the fourth quarter 2021 dividend and will be paid Oct. 29, 2021, to shareholders of record Oct. 12, 2021. OGE Energy …
Helmerich and Payne closes on note offering
It didn’t take long for Tulsa-based Helmerich & Payne to close on its previously announced private offering of $550 million in senior notes. The company stated that it has successfully completed the offering of the 2.900% senior notes due 2031. “We are taking advantage of the Company’s robust financial profile and the historically low …
Armor Energy sells Eagle Ford play holdings
The amount was not disclosed but Tulsa’s Armor Energy LLC divested its producing assets in the northern part of the Eagle Ford play in South Texas. Crescent Pass Energy LLC closed on the acquisition as well as three bolt-on acquisitions in the Cotton Valley trend in East Texas. Houston-based Crescent Pass is a private exploration …
LSB raises money through $500 million bond offering
Oklahoma City’s LSB Industries, Inc. announced that it priced its previously announced offering of $500 million in aggregate principal amount of senior secured notes due 2028 which will be sold in a private placement to eligible purchasers. The notes will be guaranteed on a senior secured basis by all of LSB’s existing subsidiaries …
Crude prices slip for 2nd day leaving Oklahoma energy stocks jumbled
For a second straight day, crude oil prices dropped in the U.S. as U.S. crude inventories rose more than expected. It left Oklahoma energy stocks mixed…some rose and some reported losses. Crude stockpiles went up by 4.6 million barrels last week causing West Tuesday Intermediate crude for November delivery to slide down 46 cents …
Historic oil storage tanks removed from Oklahoma Capitol grounds
After nearly 8 decades of sitting next to the historic oil derrick on the grounds of the Oklahoma State Capitol, three oil storage tanks have been removed courtesy of the Oklahoma Energy Resources Board and Phillips 66 Company. For 79 years, the historic oil and natural gas artifact had been located near the South …
Legislator cautions promotion of wind and solar without natural gas is a mistake
“The blind promotion of intermittent sources such as wind and solar without natural gas to support for reliability is plainly shortsighted.” It’s what State Rep. Mark McBride writes in an op-ed piece in The Oklahoman this week. He’s a supporter of natural gas calling it a “cleaner, smarter option.” Click here for The Oklahoman.
Texas oil production slowed in 3Q says Dallas Federal Reserve Bank
Solid oil and gas sector growth continued in third quarter 2021, according to oil and gas executives responding to the Dallas Fed Energy Survey. The business activity index—the survey’s broadest measure of conditions facing Eleventh District energy firms—remained elevated but moved down from 53.0 in the second quarter to 44.3 in the third quarter. …
SE Oklahoma firms urge more access from Indian Nations Turnpike
Rep. Jim Grego, R-Wilburton held an interim study this week to discuss the need for more on- and off-ramps to the Indian Nation Turnpike in southeast Oklahoma. “This is a topic my constituents have asked me about since I first got elected three years ago,” Grego said. “My goal is to see how we …
Energy news in brief
** Enbridge Inc said on Wednesday its Line 3 pipeline would be operational from Oct. 1, marking the completion of a long-delayed replacement project that would increase the capacity of crude deliveries from Canada to U.S. refineries. ** ConocoPhillips is offering to sell about $500 million in conventional oil and gas properties in the top U.S. oil …