The move by Oklahoma City’s Devon Energy Corp. to sell its stake in Enlink Midstream Partners LP for $3.13 billion and expand its buyback of shares is working. Shares of the company rose 6.8% to $42 a day after making the announcement that it not only sold its part of Enlink to an affiliate of …
Top U.S. housing market is—–Midland, Texas!
Make fun of living in Midland, Texas all you want, but it’s now the hottest housing market in the U.S., thanks to oil and gas exploration in the Permian Basin. The boomtown tops the U.S. home market list released recently by Realtor.com. There’s such a demand for housing that it takes a median of 28 …
USDA hands out $309 million in loans to rural electric cooperatives
Millions of dollars more are being invested in rural electric utilities by the U.S. Department of Agriculture. The USDA announced this week the investment of $309 million in 16 projects in a dozen states. Oklahoma utilities were not the recipients of the funding announced by Assistant to the Secretary for Rural Development Anne Hazlett. But …
Tender Offer expanded by ConocoPhillips
ConocoPhillips has released terms of its tender offer totaling $1.8 billion for a range of senior notes. The notes range from 2.4% to 4.154% and are due beginning in 2022 and extending to 2034. The tender offer was originally announced to be $1.75 billion but was later expanded to $1.8 billion. 1) Includes the …
From Washington DC to Workers Comp Commission for EPA Attorney
As she heads back to Oklahoma to become the new General Counsel to the Oklahoma Workers’ Compensation Commission, attorney Sarah Greenwalt is not finished with Washington, D.C. She’s departing as EPA Administrator Scott Pruitt’s legal counsel, having joined him when he left Oklahoma as Attorney General. She was considered one of his top aides as …
Labor Commission Candidate disagrees with workplace injury rates
One of the candidates for the GOP nomination for Oklahoma Labor Commissioner, Cathy Costello is taking issue with claims that the state’s workplace injury rate is below the national average. In a statement this week, Costello disputed the conclusion that the state’s workplace injury rate of 3.8 compares to the national average of 5. She …
Water Bill wins overwhelming support in the House
All four Oklahomans in the U.S. House helped pass the biennial water resources legislation this week in a 408-2 vote. The Water Resources Development act of 2018 provides the Army Corps of Engineers with the authorization to maintain the nation’s water infrastructure, something that Reps. Tom Cole, Frank Lucas, Markwayne Mullin and Steve Russell supported. …
May Tax collections were a record in Oklahoma
Tax collections for the month of May in Oklahoma were a record $970.9 million according to State Treasurer Ken Miller. He said it brought the total gross receipts in the past 12 months to $12.09 billion, a figure that is only $14 million from matching the all-time 12 month high. Oil and gas gross production …
Tulsa gets $45 million highway grant to make I-44 repairs
The city of Tulsa got good news this week in the form of a $45 million grant to help replace bridges on Interstate 44 in the city’s west side. It will help speed up work on a $350 million project to widen the interstate to six lanes and also replace the I-44/U.S. 75 interchange. “This …
Chaparral Energy adds new member to board of directors
Oklahoma City-based Chaparral Energy, Inc. has expanded its board of directors from seven to eight with the appointment of David Greenberg. He is a new independent member of the board effective immediately. All of the company’s directors will be up for re-election when the annual shareholders meeting is held June 29. “We are very pleased …