Both Oklahoma and the nation reported a drop in the number of oil and gas rigs actively drilling in the past week. Oklahoma’s count dropped by 3 to 138 while the nation’s count slipped by 8 to reach 1,046. The national count included 5 fewer oil rigs to reach 858 and 2 fewer gas rigs, …
Short and sweet. It’s the announcement by Devon Energy that it’s eliminated the position of Executive Vice President of Administration. In Friday’s SEC filing, the company said the move was made July 16 and will be effective Aug. 1. As a result, R. Alan Marcum will lose his job but will remain with the company …
Oklahoma City’s Chesapeake Energy reports its board of directors has declared a one-cent dividend on its outstanding convertible preferred stock issues for the quarter. The penny dividend covers four different stocks ranging from 4.50%, 5%, 5.75% and the 5.75% series A. The 4.50% will be paid September 15 while the remaining three preferred stock issues …
Oklahoma’s members in the U.S. House were among those who passed a nonbinding measure denouncing a carbon tax, saying it was “detrimental” to the nation. Reps. Tom Cole, Frank Lucas, Markwayne Mullin and Steve Russell joined 225 others in the House in support of the resolution which said a tax on emissions of carbon dioxide …
The shortage of pipelines to carry crude out of the Permian Basin has Union Pacific railroad executives seeing an opportunity for increased business. It reportedly plans to move crude oil tankers to the region, as indicating by Chief Marketing Officer Beth Whited in an earnings webcast. “The Permian is an interesting place and we’re definitely …
Baker Hughes reported a 3% increase in revenue totaling $5.5 billion for the second quarter of 2018. The Houston company also said it represented a 2% increase in revenue compared to a year ago. It represented adjusted operating income of $289 million for the quarter which was also an increase compared to the first quarter …
Holly Energy Partners, L.P., operator of a Tulsa refinery has declared a cash distribution of 66 cents per unit for the second quarter of 2018. The Dallas-based company said it represented an increase of 4.3% from the $0.6325 distribution declared in the second quarter of 2017. It also makes the 55th consecutive quarterly distribution increase …
A deal between two energy companies has been finalized and just created what they’re calling the largest unconventional shale producer in the Permian Basin of West Texas and Eastern New Mexico. Concho Resources Inc. in Midland, Texas has finished its acquisition of RSP Permian, Inc. in an all-stock deal valued at $9.5 billion . Under …
Oklahoma City’s Blueknight Energy Partners, L.P. announced an 8-cent dividend for the second quarter of the year. The cash distribution is on the Partnership’s common units and there is also a cash distribution of $0.17875 per unit on the Partnership’s preferred units. The distributions are payable on Aug. 14 on all outstanding common and …
The end of a federal transportation and economic grant program is forcing the Eastern Shawnee Tribe of Oklahoma to close its N2N University. The Tribe’s Business Committee decided to have all current students finish their programs performing an organized and orderly “Teach-Out” in compliance with the Oklahoma Board of Private Vocational Schools rules. The Wyandotte-based …
