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 …
The latest completion reports made available by the Oklahoma Corporation Commission (see OK Energy Today) show at least one large gas well in Grady County. Gulfport Mid-Con Co. of Oklahoma City drilled the well 3 miles south of Alex in the Woodford play. The North Cheyenne 4-10X3H had production of 10,620 Mdf of gas a …
Oklahoma City-based Chaparral Energy, Inc. announced Thursday it will soon be listed on the New York Stock Exchange. The move of Chaparral’s Class A common stock from the OTCQB or stocks trading over-the-counter will be July 24. Trading will be under the new ticker symbol “CHAP.” Upon the opening of the NYSE trading, the company’s …
Oklahoma energy companies taking part in the oil exploration of the Permian Basin in West Texas can take some of the credit that Texas is about to become the third-largest oil producing region in the world. The state is ready to move past Iraq and Iran and trail only Russia and Saudi Arabia. While much …
Baker Hughes, the company that offers drilling rig counts and of course well services announced this week it is selling its natural gas solutions business for $375 million. The buyer is a private equity firm and an Italian company. The segment that makes gas meters and pipeline repair products had previously been acquired in 2011 …
