The largest county-owned solar array in Arkansas has started operating in south Fayetteville. The North Little Rock-based Seal Solar company put the 2.01-megawatt array into activation on Wednesday. The array is located on the roof of Washington County’s south campus in Fayetteville according to a report by Talk Business and Politics. The 5,400-panel system …
Nine Energy regains compliance with NY Stock Exchange
Threatened with delisting from the New York Stock Exchange, Houston-based Nine Energy Service, Inc. has regained compliance with the exchange’s continued listing standards. The company announced Thursday it had been notified April 21 of noncompliance because its average closing price of shares of common stock had fallen below $1 a share over a period of …
Black Stone Minerals sells minerals and holdings in Permian Basin
Houston’s Black Stone Minerals, L.P. is selling some of its Permian Basin holdings in a $155 million deal that is intended to reduce company debt and obligations. The sale involves two separate agreements. One involves holdings in Midland County, Texas and the buyer is only identified as a “private buyer” who paid approximately $55 …
NGL Energy Partners refinances $250 million loan
Tulsa-based NGL Energy Partners LP announced that it has entered into a new $250 million term loan facility with certain funds and accounts managed by affiliates of Apollo Global Management, Inc. It is essentially a refinancing of a loan NGL used as part of its 2019 $892.5 million cash-free and debt-free acquisition of Mesquite …
Texas driller plans a dozen wells in southern Oklahoma
A Texas exploration company has received permits to drill a dozen wells at one site in southern Oklahoma. The permits to drill were issued to Kodiak Oil and Gas Inc. of Muenster, Texas. All 12 AWU wells were approved to be drilled at 35 3S 2W and 34 3S 2W, sites located just southeast of …
Occidental directors elected easily
Despite criticism from some shareholders over Occidental Petroleum Corps’ controversial merger last year with Anadarko Petroleum Corp, Occidental directors were elected last week by comfortable margins. Reuters reported the votes came in the first annual meeting held since the U.S. oil and gas company’s $38 billion acquisition of Anadarko Petroleum, an ill-timed bet on …
Tulsa trucking company shutting down Kiefer facility
A 75-year old Tulsa-based trucking company is closing one of its operations and laying off 51 employees as a result of the COVID-19 pandemic. Stone Trucking informed the Oklahoma Office of Workforce Development of its intentions to shut down its operations in Kiefer. Stephen Royce, Executive Vice President of Human Resources blamed the action …
Oklahoma regulators give approval to voluntary shut-ins of wells
With little discussion, Oklahoma Corporation Commissioners on Wednesday voted to give oil producers the legal liability protection of shutting in wells as prices for crude continue to remain in the upper $30. The vote ended nearly two and a half months of efforts by some oil producers to get the legal protection to turn off …
Energy news in brief
** Devon Energy Corp. announced Wednesday that its board of directors has declared a quarterly cash dividend on Devon’s common stock for the third quarter of 2020. The dividend is payable on Sept. 30, 2020, at a rate of $0.11 per share based on a record date of Sept. 14, 2020. ** China’s state planner has given …
Federal magistrate orders Roan Resources to cough up documents
A magistrate in Tulsa federal court has ordered Roan Resources, a firm that was acquired by Citizen Energy III in 2019 to turn over documents in a lawsuit that it underpaid royalties and oil and gas proceeds from its wells. Magistrate Judge Jodie F. Jayne issued the ruling in a lawsuit brought against Roan Resources …