First Continental Resources did it—claiming an act of god caused its need to break an oil production contract. The same claim was made by Gov. Kevin Stitt, all in the name of cutting oil production at a time when oil prices are just pulling out of negative territory. Motley Fool says other companies …
Perhaps he took a cue from Continental Resources founder Harold Hamm who used the same claim in ending oil production contracts in North Dakota. But Oklahoma Gov. Kevin Stitt is calling on U.S. President Donald Trump to declare the coronavirus pandemic an “act of God,” a step to help oil-producing states contend with a crude glut …
Members of Oklahoma’s congressional delegation are doing what they can to help the state’s staggered oil and gas industry, an industry rocked so hard by the coronavirus pandemic and the oil price crisis that some companies have shut in well production and others are hoping to survive. News 9’s Alex Cameron interviewed some of …
Ridership on Oklahoma City’s public transportation has taken a hit because of the coronavirus pandemic with March numbers down nearly 13%. When COVID-19 struck Oklahoma in mid-March, ridership at EMBARK, formerly Metro-Transit had been on the increase from a year earlier. January ridership was more than 210,000 combined for a 2.3% increase from January …
The board of directors of Magellan Midstream Partners, L.P. in Tulsa has declared a quarterly cash distribution of $1.0275 per unit for the period Jan. 1 through March 31, 2020. The first-quarter 2020 distribution is 2% higher than the first-quarter 2019 distribution of $1.005 per unit and consistent with the fourth-quarter 2019 amount. “During this …
Refinery operator Holly Energy Partners, L.P. declared a 35-cent a unit cash distribution for the quarter, nearly half of what it was in the previous quarter. Owner of a refinery in Tulsa as well as El Dorado, Kansas and others the company said the first quarter 2020 distribution will be paid May 14 to unitholders …
Reports indicate Oklahoma City-based Continental Resources Inc. has shut down most of its oil production in North Dakota after telling at least one refiner the company could not make an oil delivery because of the oil crisis. Bloomberg reported that the company declared a force majeure on one of its contracts earlier in the week …
Cheniere Energy, Inc., operator of the Midship pipeline that recently won FERC approval to begin shipping natural gas from Kingfisher, Oklahoma south to the state line says its upcoming annual meeting will be a virtual meeting online because of the COVID-19 pandemic. The company said the meeting will not be in person out of concern …
After filing Chapter 11 bankruptcy, Denver’s Whiting Petroleum Corporation announced it’s entered into a restructuring support agreement with holders of its convertible senior notes. The agreement applies to holders of the 1.25% convertible notes due this year, 5.750% notes due in 2021, 6.250% notes due 2023 and 6.625% notes due 2026. In addition, the Company …
Wyoming’s Powder River Basin isn’t an area known only for growing oil production that attracted some major oil and gas drillers from Oklahoma, but its coal industry has been a major player for decades. However, the coal industry in Wyoming is hurting. Just ask the hundreds who have lost their jobs in the past several …