Led by Oklahoma Rep. Frank Lucas, the ranking member of the House Committee on Science, Space, and Technology, the remaining Republican members requested the Democratic leadership to begin an investigation into the origins of COVID-19. One of them was Oklahoma freshman Rep. Stephanie Bice. Their letter of request was made to Committee chairwoman Eddie Bernice …
Rig numbers slipped in past week but were steady in Oklahoma
Oklahoma’s rig activity was unchanged in the past week while the number of rigs nationwide slipped according to the weekly count released on Friday by Baker Hughes Co. Oklahoma’s numbers were unchanged at 30 while nationally, the count fell by 3 to 488 oil and gas rigs. The number of active oil rigs last …
Enable Midstream announces quarterly distributions
Oklahoma City-based Enable Midstream Partners, LP announced Friday that the board of directors of its general partner declared today a quarterly cash distribution of $0.16525 per unit on all outstanding common units for the quarter ended June 30, 2021. The distribution is unchanged from the previous quarter. The quarterly cash distribution of $0.16525 per …
Civeo reports another quarter of debt reduction
Civeo Corporation, the energy housing provider reported second quarter revenues of $154.2 million and a net loss of $0.5 million but also managed to reduce its debt for the 8th consecutive quarter. It’s second quarter adjusted EBITDA was $32.2 million and the Canadian-based firm with operations in Oklahoma managed free cash flow of $13.7 …
Baker Hughes company announces $2 billion share repurchase authorization
Baker Hughes Company announced Friday that its Board of Directors has authorized Baker Hughes Holdings LLC to repurchase up to $2 billion of its common units. The announcement said the firm will use the proceeds from the sale of its BHH LLC common units to repurchase its Class A shares. “Today’s announcement represents further …
Energy news in brief
** Xcel Energy Inc. (reported 2021 second quarter GAAP and ongoing earnings of $311 million, or $0.58 per share, compared with $287 million, or $0.54 per share in the same period in 2020. ** The ALLETE, Inc. board of directors has declared a quarterly dividend of 63 cents per share of common stock. On an annual basis, the …
Losses increased in 2Q for Mammoth Energy
Mammoth Energy Services, Inc. reported a drop in its second quarter total revenue and an increase in its net loss from $15.2 million in the first quarter to nearly $35 million in the quarter just completed. The company reported total revenue was $47.4 million compared to more than $60 million in the same quarter last …
Crude oil makes gains along with Oklahoma energy stocks
As US crude oil inventories continue their drop, both at the Cushing hub in Oklahoma and across the country, oil prices rose again in Thursday’s trading. West Texas Intermediate crude for September delivery finished up $1.23 to settle at $73.62 a barrel. Global benchmark Brent crude oil for September delivery increased by $1.31 to …
Quarterly losses improve for Helmerich and Payne
Helmerich & Payne, Inc. reported a third quarter net loss of $56 million or 52 cents a diluted share, but nothing like the $121 million it lost at the end of the previous quarter. And certainly nothing like the large losses it suffered in 2020 during the COVID-19 pandemic. The Tulsa-based company said it …
Arguments heard in Supreme Court lawsuit against Corporation Commissioner
The lawsuit challenging Oklahoma Corporation Commissioner Todd Hiett over an alleged conflict of interest was heard this week by a referee for the Oklahoma Supreme Court. The high court won’t have a ruling in the challenge by former Rep. Mike Reynolds until sometime in the fall. Reynolds claims Hiett should be disqualified from office …