Oklahoma City-based Chesapeake Energy reported a drop in third-quarter earnings on Thursday. The net loss to shareholders was $41 million or 5 cents per share from $1.2 billion or $1.62 cents a share a year earlier. Its bottom line rose to $106 million or $0.12 a share, higher than $73 million or $0.09 a share …
Oil and Gas Employment Slipped in OKC and Tulsa in September
Jobless rates in September improved across Oklahoma, slipping in 71 of the state’s 77 counties according to the latest employment report from the Oklahoma Employment Security Commission. But oil and gas employment fell in the state’s two major cities. Rates rose in five counties and were unchanged in one county compared to one year ago. …
Rocky Start for Rep. Bridenstine’s NASA Confirmation Hearing
The confirmation hearing for Oklahoma U.S. Rep. Jim Bridenstine to become the next Administrator at NASA got off to a bumpy start on Wednesday when he was attacked by the leading Democratic Senator on the Senate Commerce, Science and Transportation Committee. The attack was launched by Sen. Bill Nelson of Florida who accused Bridenstine of …
Group Starts Petition Drive for Vote to Raise Taxes on Oil and Gas
The Oklahoma Energy Producers Alliance says it’s starting a petition drive to let Oklahoma voters decide whether there should be an increase in the gross production tax on oil and gas. Some of the vertical well producers who belong to the OEPA voted at their October board meeting to support putting the issue on a …
Blueknight Energy Makes $32 million Acquisition
A more than $32 million deal’s been announced by Oklahoma City-based Blueknight Energy Partners L.P. in the acquisition of two asphalt terminalling operations in Georgia and Oklahoma. The company said the $32.5 million purchase includes a facility in Bainbridge, Georgia owned by Ergon Asphalt and Emulsions, Inc. A plant in Muskogee owned by Frontier Terminal …
Gas Service Restored to Women’s Prison in OKC
Gas service was restored late Tuesday night to the Oklahoma City Community Corrections Center. Spokesman Matt Elliott said heat to the rooms and hot water was returning. The center, home to more than 250 women inmates had been without gas service since Saturday when natural gas was smelled outside the facility.
Company Withdraws Power Plant Site in Nebraska
An Omaha-based power company has backed out of plans to build a 38-megawatt power plant in Nebraska. Bluestem Energy Solutions withdrew its permit application from the Nebraska Power Review Board and will build the $38.5 million plant elsewhere in the Southwest Power Pool’s 14-state territory. By building out of state, Bluestem Energy will be allowed …
Growth of Crude Oil Exports Raises Questions About Capacity
With so much crude oil being shipped overseas from U.S. ports, it has some crude experts wondering if it could soon affect the price of U.S. oil. Brent crude in London went over the $60 mark this week while West Texas Intermediate oil hit $54. All the while, crude exports hit a record 2 million …
127 Gas Stations Cited for Price Gouging After Hurricane Harvey in Texas
More than 100 businesses in Texas have been hit with price gouging charges following Hurricane Harvey. The Texas Attorney General’s Consumer Protection Division notified 127 gas stations this week they were accused of price gouging. In some of the cases, the stations charged nearly $4 a gallon for unleaded gas. “At the outset of Harvey, …
Noble Energy’s Quarterly Losses Smaller Than Expected
Houston’s Noble Energy did better than expected in its third quarter earnings. While the company reported a third quarter net loss of $136 million or 28 cents per share, it was smaller than expected. A year ago, the company had a third quarter net loss of $144 million or 33 cents a share. Noble, the …