Williams and Williams Partners reported first quarter earnings this week. Williams had $152 million in unaudited net income for the quarter as well as adjusted first quarter earnings of $1.135 billion. But the net income was down from $373 million reported last year at this time. The company blamed the drop on a transaction involving …
Move to Divest San Juan Basin Holdings Pays Off for Tulsa’s WPX Energy
The divestiture of it its assets in New Mexico’s San Juan Basin apparently paid off for Tulsa’s WPX Energy as it reported first-quarter 2018 product revenue of $407 million. And the company’s exploration in the Delaware Basin resulted in an 8 percent increase over the previous quarter, plus a 149 percent jump from production a …
Arkansas’ Murphy Oil Issues Good 1Q Report for Shareholders
Like a lot of energy companies, Murphy Oil Corporation based in El Dorado, Arkansas had a glowing report for its shareholders. The company had income of $169 million which amounted to 97 cents a share. The adjusted income was $40 million and the cmopany returned 16 percent of operating cash flow to shareholders through dividend. …
Blueknight Energy to Release Earnings Report May 10
Oklahoma City-based Blueknight Energy Partners, L.P. plans to release its first quarter 2018 earnings report next week. The official release will be Thursday, May 10 before the market opens. A conference call will be held later in the day at 1 p.m. CDT. The company reported net income of $0.4 million for the fourth quarter …
OGE Completes Last of Improvements at Mustang Power Plant With a Blast
Oklahoma Gas and Electric has put a dramatic end to its $425 million installation of seven modern natural gas-fired units to its former Mustang Power Plant, now called the Mustang Energy Center. The company recently imploded two massive smoke towers that were geographic earmarks for the plant located in west Oklahoma City. KOCO TV caught …
Pipeline Operator Tallgrass Energy Reports Strong 1Q
Pipeline operator Tallgrass Energy is reporting what it calls a “strong” first quarter of 2018. Based in Leawood, Kansas and operating in eleven states, the company reported nearly $108 million in net income in the first three months of the year compared to about $71 million a year earlier. Tallgrass operations stretch from Wyoming and …
Continental Reports Strong 1Q As Company Makes Strong Start to 2018
Continental Resources in Oklahoma City reported nearly $234 million in net income for the first quarter of 2018. It amounted to 68 cents per diluted share. The Harold Hamm company reported $886 million cash flow from operations and a 34 percent increase in production which totaled 287,410 Boe per day average. Continental’s free cash flow …
Oklahoma Senate Approves Another Anti-Energy Tax Credit Bill
A Wednesday vote by the Oklahoma Senate has only shored up the state’s image of targeting some of Oklahoma’s new energy industries. Without debate on Wednesday, the Oklahoma Senate adopted a restriction on the olar industry, passing a bill to extend indefinitely a $25 million cap on tax credits to solar energy operators. Sen. …
Wind Industry Company Seeks More Texas Approval of Upgrades
Xcel Energy announced this week it is seeking Texas approval for $65 million in power grid upgrades in the Texas Panhandle. Lamb and Bailey counties are located southwest of Amarillo. Xcel Energy said the improvements are meant to relieve overloaded lines and make way for future economic expansion in the region. One of the new …
Deadline’s Here for Petition Drive to Probe Claremore’s use of Smart Meters
The deadline for a petition drive to investigate the city of Claremore’s finances over smart meter technology is this week. The Tulsa World reported Shelly Taylor had until Thursday to obtain 986 registered voters to sign her petition calling for the investigation. She has claimed misappropriation and “possible irregularities” in the city budget. Her petition …
