As part of its recent management reorganization, Tulsa-based Unit Corporation appointed Mark E. Schell to the position of Executive Vice President and Chief Strategy Officer. Schell was formerly the company’s Executive Vice President, Secretary and General Counsel. Schell joined Unit Corporation in January 1987 as its Secretary and General Counsel. In 2003, he was promoted …
NGL Provides Update on Grand Mesa Pipeline Customer Bankruptcy Case
A federal bankruptcy court in Delaware recently granted a summary judgment motion in favor of a Grand Mesa Pipeline, LLC customer, ruling Extraction Oil & Gas, Inc.’s Transportation Sales Agreements do not reflect a valid covenant that runs with the land under Colorado law. In a press release issued on Monday by Tulsa-based NGL Energy …
Oil futures go up for first time in four trading sessions
Maybe it was nervousness over the Presidential election. Or possibly it was because OPEC + plans to postpone plans to curb its production cuts. Then there is always growing worries about the impact of COVID-19’s surge in Europe. Whatever, oil futures were up in Monday’s trading, representing the first increase in four trading session. West …
$1.6 billion in Keystone XL contracts awarded
The Capital Journal in South Dakota reported that TC Energy, the builder of the Keystone XL pipeline from Canada to the U.S. has awarded another $1.6 billion in contracts with six American contractors. As a result, an estimated more than 11,000 workers will be hired in 2021 and at least 8,000 will be union …
Energy news in brief
** Wyoming’s coal industry could gain a temporary boost Wyoming under a Biden presidency, but experts say a ban on oil and gas leasing on federal land would be particularly damaging for the state’s industry according to the Casper Star-Tribune. ** An independent California consumer watchdog agency says PG&E should be fined $165.7 million for mismanaging its planned power outages …
Chesapeake creditors create bankruptcy showdown
Bloomberg reports the Chapter 11 bankruptcy of Oklahoma City’s Chesapeake Energy Corp. is headed to a court fight as creditors contend Chesapeake and Franklin Resources Inc. are accused of basing the company’s bankruptcy on a fraudulent scheme. U.S. Bankruptcy Judge David Jones set a Dec. 15 hearing to review the claims of the creditors …
Energy stocks hit “teeter totter” trading day on Friday
As oil prices dropped even further in Friday’s trading in the U.S. and in Europe, the day proved to be a mixed bag for trading of energy stocks. Some Oklahoma energy companies made big gains while others fell as much as 10%. Tulsa’s WPX Energy, in the process of merging with Devon Energy saw …
Crude oil futures dropped more on Friday’s trading
They already had dropped to a 5-month low in trading this week, but crude oil futures took another slide downward on Friday. West Texas Intermediate futures dropped 38 cents or 1.05% and settled at $35.79 per barrel on the New York Mercantile Exchange. Brent Crude, in ICE futures trading slipped 19 cents or .50% …
Attorney General Hunter Warns of Contractor Fraud in Wake of Ice Storm
The disastrous ice storm that left hundreds of thousands of Oklahomans without electrical power prompted Attorney General Mike Hunter to issue a warning about fraudulent contractors. He urged residents to be cautious about selecting contractors for ice-storm repairs and cleanup. “Criminals see things like ice storms as an opportunity to make money,” Hunter said. …
Illinois River Watershed Steering Committee Virtual Meeting Nov. 9
The Illinois River Watershed Steering Committee (Steering Committee) in Oklahoma will hold a virtual meeting on November 9, 2020 at 1:00 PM. The meeting will be conducted virtually via Zoom. During the meeting, presentations from environmental agencies in Oklahoma and Arkansas and the Cherokee Nation will be given. The virtual meeting will be open …