Bankrupt Key Energy Services Inc. in Houston and its lenders have reached a restructuring support agreement that aims to reduce the company’s long-term debt by about 80 percent. The RSA was reached with lenders that hold over 99.5 percent of the principal amount of the company’s outstanding term loans, according to a Jan. 27 …
Gov. Kevin Stitt wants to consolidate the Oklahoma Department of Transportation and the Oklahoma Turnpike Authority. Combining the two state agencies makes sense because they both focus on improving transportation in Oklahoma, Stitt said in a recent radio according to the Tulsa World. “My goal is to consolidate those two agencies because really, to us, …
One of the largest coal-mining companies in the U.S., Alliance Resource Partners, L.P. of Tulsa announced its total 2019 net income grew by nearly 9%. For the 2019 Year, net income attributable to ARLP increased 8.9% to $399.4 million, or $3.07 per basic and diluted limited partner unit, compared to $366.6 million, or $2.74 …
A lawsuit has already been filed over Friday’s explosion that killed two workers at a plant in a Houston, Texas suburb. The family of one of the victims, Frank Flores, contends the Watson Grinding and Manufacturing operation knew the plant was dangerous and didn’t warn workers. Flores and another man, Gerardo Castorena were killed in …
A federal court ruling that stated the EPA exceeded its authority in exempting three oil refineries from the Renewable Fuel Standard involves a southern Oklahoma refinery and the company that owns the Holly Refinery in Tulsa. The ruling, according to some observers, could force the Trump administration to reconsider its expanded use of the exemptions. …
Landowners in the area popularly known as “Hills Country” in South have filed a federal suit against the government over a proposed major natural gas pipeline that will serve the Permian Basin oil field in Texas. The suit accuses the developers of skirting environmental law. In a lawsuit filed Friday in the U.S. District Court …
The $4 million price tag on an underground trash fire that burned for nearly a year in northwest Arkansas remains the focus of state hearings over who will pay for it. Bella Vista Property Owners Association challenged the state’s original decision to force it to pay but the State’s Pollution Control and Ecology Commission wants …
Tulsa’s Triumph Energy Partners, LLC claims it is focused on acquisition and development of resources in the STACK play and that focus paid off in the past year when four sister wells ended up with combined production of more than 3,000 barrels of oil a day. The four Copeland wells, located at 36 15N 8W …
While new jobless figures for Oklahoma show the December 2019 jobless rate stayed at 3.4% from November, the numbers in the oil and gas industry were showing dismal signs of the energy slowdown. The state’s jobless rate compared to 3.5% for the U.S. and showed 62,990 out of Oklahoma’s workforce of 1,846,283 were out of …
** Baker Hughes announced that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on February 14, 2020 to holders of record on February 3, 2020. ** North Dakota regulators signal they will not impose conditions beyond those required by the federal government on a plan to double the capacity of the Dakota …