A report by Bloomberg News shows how billionaire investors are circling distressed oil and gas firms like crows over road kill, waiting to pick up assets at cheap levels. Even corporate officers of some suffering firms, like Oklahoma City’s Chesapeake Energy are taking advantage to purchase more shares. Chesapeake’s Senior Vice President and Chief Accounting …
The latest oil and gas rig counts show the national trend is still sliding downward as the nation’s count dropped by eleven in the past week to reach 806. In Oklahoma, the count grew by one to reach 52, a weak showing in light of the 146 active rigs reported one year ago this past …
A leadership change has been announced by HollyFrontier Corporation in Dallas where CEO and President George Damiris intends to retire at the end of the year. Damiris was appointed CEO and President of HollyFrontier in January 2016 and has served on the Board of Directors of HollyFrontier since December 2015. He joined Holly Corporation in …
MoGas Pipeline, LLC , a wholly owned subsidiary of CorEnergy Infrastructure Trust, Inc. in Kansas City announced an open season to solicit interest in firm transportation capacity on its interstate natural gas pipeline in Missouri and Illinois. MoGas is considering an expansion of the capacity of its natural gas pipeline system to approximately 200,000 dekatherms …
Houston-based Noble Energy Inc. and its Noble Midstream Partners LP master limited partnership announced a $1.6 billion cash-and-stock deal that will simplify the companies’ midstream operations. The deal, which closed Nov. 14, is the conclusion of Noble Energy’s strategic review of its midstream business, according to Nov. 15 press releases. It includes the MLP acquiring all of Noble Energy’s …
Hongjin Tan, a 35 year old Chinese national and U.S. legal permanent resident, pleaded guilty Tuesday in federal court to committing theft of trade secrets from his employer, a U.S. petroleum company, Phillips 66 laboratory in Bartlesville. Tan pleaded guilty to theft of a trade secret, unauthorized transmission of a trade secret, and unauthorized possession …
The Oklahoma Department of Environmental Quality announced that the ChargeOK grant program has issued awards for $1,453,933 to install 55 electric vehicle (EV) charging stations across Oklahoma. A second round of awards will be announced in the future. DEQ set aside the maximum allowed portion of its VW Settlement funds to support ChargeOK, Oklahoma’s EV …
WPX Energy President and Chief Operations Officer Clay M. Gaspar has been elected to the Tulsa company’s board of directors effectively immediately. Gaspar has held increasing levels of leadership with WPX since joining the company in 2014. He started as senior vice president of operations and resource development, was promoted to chief operating officer …
Helmerich & Payne, Inc. reported income of $41 million or $0.37 per diluted share from operating revenues of $649 million for the quarter ended September 30, 2019, compared to a net loss of $155 million, or $(1.42) per diluted share, on revenues of $688 million for the quarter ended June 30, 2019. But the …
The Tar Creek Trustees are seeking submissions of restoration project ideas from the public according to the Oklahoma Department of Environmental Quality. Any individual or group can submit a restoration project idea which addresses natural resource injuries and/or cultural service losses within the Northeastern Oklahoma Mining Natural Resource Damage Assessment and Restoration Site (NOMNRDAR). Project …
