As Chesapeake Energy announced a $1 billion note offering this week in preparation for its exit from Chapter 11 bankruptcy, the Oklahoma City company confirmed the layoffs of more than 200 employees. CEO Doug Lawler notified company workers in an email that the restructuring process that came about from its Chapter 11 bankruptcy filed …
Northern Colorado-based Tumbleweed Midstream, LLC announced it reached a new 10-year helium sales agreement with a global tier one helium supplier. Tumbleweed, headquartered in Cheyenne Wells said the new contract will deliver a top-rated customer for the company’s Ladder Creek plant’s helium production capacity. It will also provide the customer a steady supply of …
Houston’s Nine Energy Service, Inc. plans to release its fourth quarter earnings report on Monday, March 8. During the 9 a.m. Central Time conference call, management will discuss the financial and operating results for the quarter and for the full year ended Dec. 31, 2020. The company reported a net loss of $18.5 million …
Pump manufacturer Corken Inc. is expanding its Oklahoma City operations. The firm is reported to be moving an operation from Chicago and expects to add 120 jobs over the next five years. At least 100 of the jobs are manufacturing while 20 are engineering. Just 18 months ago, Corken moved to a larger manufacturing …
Two America tribes attempting to shut down construction of the Enbridge Line 3 replacement pipeline in northern Minnesota lost their bid in the Minnesota Court of Appeals on Tuesday. Opponents of the Enbridge Line 3 replacement project, led by the Red Lake Band of Chippewa and White Earth Band of Ojibwe, said in …
Oil futures went up more than 2% in Tuesday’s trading after producers and investors received word that OPEC production increases were not as high as some thought. Plus, investors liked the fact that major producers showed some sign of putting the reins on output. West Texas Intermediate crude gained $1.19 or 2.2% to finish …
The Oklahoma Corporation Commission prepares for a second temporary shutdown of its website. The Commission announced the site will not be available on Thursday, Feb. 2021 for an hour, from 5:30 p.m. to 6:30 p.m. Oklahoma time. It will allow the state agency that manages the Information Technology services to make necessary maintenance updates. …
ConocoPhillips announced Tuesday it suffered a loss of $800 million in the fourth quarter of 2020 and $2.7 billion for the entire year. The four quarter loss amounted to 72 cents a share compared to 2919 fourth quarter earnings of $0.7 billion or $0.65 per share. The company said excluding special items, the fourth-quarter …
When the Obama administration created the Waters of the U.S. Rule, farm groups in Oklahoma put up a fight and eventually won as the Trump administration revoked the controversial measure. But now with Joe Biden in the White House, it might be brought back. POLITICO reported the Biden administration has started asking federal courts …
A report in the Texas Standard raises the growing question of what to do with old wind turbine blades, especially in a state that is ranked number one in wind power production in the U.S. In Casper, Wyoming, more than 1,100 blades are buried in a “wind turbine graveyard” built in the past two …