One of the nation’s largest ethanol manufacturers announced this week intentions to idle production at three plants in Iowa and South Dakota. According to the announcement, POET bioprocessing units in Chancellor, South Dakota, Ashton, Iowa, and Coon Rapids, Iowa, will be idled, while the startup of a new plant in Shelbyville, Indiana, will be delayed. The …
Highlights of the Oklahoma Transportation Commission’s Monday, April 6, virtual meeting include a detailed report on the Oklahoma Department of Transportation’s efforts to preserve critical highway operations during the COVID-19 pandemic and approval of contracts for work on I-40 in Pottawatomie County, SH-3 in Canadian County, US-412 in Woodward County and US-69 in Atoka …
A day before OPEC nations met to consider reduction of their flood oil onto the world market, a move that has devastated energy companies in Oklahoma and the rest of the U.S. members of congress including Reps Kevin Hern and Markwayne Mullin asked the Crown Prince of Saudi Arabia to take action. The Representatives are …
Oklahoma Gas and Electric Energy Corp.’s upcoming annual shareholders meeting will be a virtual meeting as the company follows the path of what so many other corporations have done as a result of the COVID-19 pandemic. The meeting will be held May 21 beginning at 10 am. Central Daylight time. Shareholders are encouraged to …
Oklahoma’s agency for unemployment insurance and re-employment of displaced workers is conducting a virtual Town Hall for claimants and the public at-large. With more Oklahomans facing unemployment due to the impact of COVID-19, OESC is hosting the event to quickly provide critical information about the claims process to those who need it. “We’re completely …
Not only is Marathon Oil Corp. planning to suspend any further drilling activity in Oklahoma, the company announced this week more cuts to its 2020 capital expenditures budget, trimming spending to $1.3 billion. The deeper cuts come a month after the company announced plans to trim spending to $1.9 billion. Marathon also indicated it intends …
Marathon Oil Corp.’s announced deeper cuts to its 2020 capital expenditures budget came on the same day the company filed reports showing more than a thousand barrels of oil from two sister wells in Oklahoma’s Stephens County. But by all indications, they might also be the company’s last Oklahoma wells for a while. The Parks …
A day after slipping, the price of oil in the U.S. and overseas was up reaching $25.09 a barrel for West Texas Intermediate crude. It was a gain of $1.46 on Wall Street while in London, Brent crude rose $1.79 to reach $33.60 per barrel. The favorable response on Wall Street came a day …
Oklahoma City’s Continental Resources Inc. has suspended its quarterly dividend because of what it calls the “demand destruction” caused by COVID-19 pandemic. In an announcement this week, Bill Berry, Chief Executive Officer said the company will continue taking “decisive” action to maximize cash flow generation, accomplish cost savings initiatives and prioritize the strength of …
Democrats in the U.S. House have come out against a request made by 30 Republican Representatives, including Oklahoma Reps. Tom Cole and Kevin Hern to provide royalty relief for oiol and gas producers drilling on federal lands during the coronavirus crisis. Led by Natural Resources chairman, Rep. Raul Grijalva of Arizona, the Democrats have urged …
