Lower earnings in the second quarter of 2020 were reported Thursday by OGE Energy Corp., the parent company of Oklahoma Gas and Electric Company. The drop in earnings appears to have been driven by the firm’s part ownership of Enable Midstream, a firm with lower revenue due to the COVID-19 pandemic. Earnings were …
Tulsa’s Laredo Petroleum, Inc. reported a second quarter 2020 loss of $545.5 million or $46.75 per diluted share. The company also indicated it plans to resume well completions in Texas in the coming month. The company’s adjusted net income was $28.4 million or $2.43 per adjusted diluted share while its adjusted EBITDA was $132.8 …
Oklahoma Gas and Electric crews are on their way to New Jersey to help with restoration of electrical power after Tropical Storm Isaias hit the East Coast. At least 65 OGE workers gathered early Thursday morning and started driving their trucks to New Jersey where thousands are without power. OGE said Jersey Central Power …
Oklahoma coal-fired power plants are among those on a long list across the U.S. that have been converted to natural gas in the past 9 years. The Energy Information Administration said Wednesday that a total of 103 of the coal-fired power plants were switched to natural gas or replaced by natural gas-fired plants …
Weeks after SandRidge Energy, Inc. sold its downtown Oklahoma City high-rise headquarters in a more than $35 million deal with the state, the company released its second quarter earnings report showing a net loss of nearly $216 million or more than $6 a share. The firm also expressed some doubts about its chances of …
A government report showing a large drop in U.S. crude inventories, including those in Cushing, Oklahoma resulted in oil futures posting their highest close in five months in Wednesday’s trading. But analysts say an unexpected increase in gasoline stocks apparently stalled the oil futures increase. West Texas Intermediate crude for September delivery finished the …
The Dakota Access Pipeline won’t be closing after all, following a U.S. appeals court ruling on Wednesday that stayed a federal judge’s ruling from July. However, U.S. regulatory officials may still have to issue another environmental assessment for DAPL before deciding if the 570,000-barrel-per-day oil pipeline can continue to operate, the U.S. Court of …
Second quarter earnings for Tulsa-based Blueknight Energy Partners slipped $2 million as the company reported net income of $1.4 million along with operating income of $4 million and adjusted EBITDA of $16.1 million. But crude storage took a big jump upward and the company might make a stronger focus on terminalling. Net income was …
Gulfport Energy Corporation reported financial and operational results for the three months ended June 30, 2020 showing a net loss of $561.1 million or $3.51 per diluted share. The Oklahoma City company’s reported adjusted net income was $47.1 million or 29 cents a share for the quarter. Its generated adjusted EBITDA was $145 million while reported …
When the U.S. Senate voted Tuesday to confirm Mark Menezes to be deputy Energy secretary, he had the support of Oklahoma U.S. Sens. Jim Inhofe and James Lankford. But not of Iowa’s two senators and their opposition stems from the fight over biofuel blending requirements—those fought by at least one Oklahoma refinery and other …