Ahmad Ghassemi, the McCasland Chair and professor of petroleum engineering at the Mewbourne College of Earth and Energy at the University of Oklahoma, received $2.5 million of a $28 million grant from the U.S. Department of Energy with an additional $700,000 in matching funds from Coso Operating Company for a study that aims to …
U.S. LNG company Cheniere Energy Inc. said it temporarily suspended operations and evacuated personnel at its Sabine Pass LNG export terminal in Louisiana as Hurricane Laura churns toward the plant site. Laura is expected to strengthen into a major Category 3 storm with maximum sustained winds of 115 miles per hour (185 kilometers …
While oil futures rose to the highest level since March in Tuesday’s trading, energy firms had a mixed bag with some seeing the value of their shares declining. Others saw gains of up to more than 7%. Devon Energy finished Tuesday’s trading 20 cents or 1.85% higher at $10.98. SandRidge Energy rose 6 cents for …
Oil futures finished higher Tuesday, with U.S. benchmark prices settling at their highest since early March. Traders eyed disruptions to energy output in the Gulf of Mexico as Hurricane Laura looked to reach the U.S. Gulf Coast later this week. Weekly data on U.S. petroleum supplies are also due out late Tuesday from the …
While environmentalists have led legal challenges to many moves by the Trump administration’s EPA, some U.S. Senators, led by Sen. Jim Inhofe of Oklahoma, are using the same tactic in challenging Obama-era rules and regulations of methane emissions from oil and gas operations. In short, they’re turning the table on the Obama rules and …
Fort Worth-based FTS International, Inc., a fracking servicing firm said it plans to file chapter 11 bankruptcy protection and has reached a restructuring support agreement with its investors. The company said 64% of the secured debt claims and 75% of the holders of the firm’s senior secured notes agreed to the restructuring. FTS said …
Eleven months after The Blackstone Group said it was interested in selling its 41% stake in Houston’s Cheniere Energy, it has made the sale. One totaling an estimated $7 billion according to reports. In September 2019, as OK Energy Today reported, the private equity firm had 202 million shares in Cheniere, the company with …
American Airlines isn’t the only passenger transportation industry hit hard by COVID-19. So is Amtrak, a company reducing its Southwest Chief rail service across Kansas. It appears that in 2020, COVID-19 has done what no other threat could do in the nearly 50 years of operation of the Southwest Chief — reduce the frequency …
The extent of the impact at the airlines maintenance center in Tulsa isn’t known at this time, but American Airlines plans to eliminate 19,000 jobs in October because of the sharp downturn in travel as a result of the COVID-19 pandemic. Flight attendants will bear the heaviest cuts, with 8,100 losing their jobs reported …
The Interior Department plans to resume its auction of oil and gas drilling rights, the first since March, of more than 500,000 acres of federal land, including some in northwest Oklahoma. The sales will begin Aug. 26 and continue over the next six weeks reported Bloomberg Law. Environmental groups are calling the lease upcoming lease …