Chesapeake Energy Corporation announced its note exchange offer resulted in $3.22 billion dollars in notes validly tendered. It amounted to 71.4% of the existing notes as of 5 p.m. New York City time on Dec. 17, 2019. The company offered its new 11.5% Senior Secured Second Lien Notes due 2025 for certain outstanding senior …
7 more Hamm wells produced 16,000 barrels of oil a day in STACK
The latest completion reports filed by Harold Hamm’s Continental Resources confirms his Oklahoma City company located an area of the STACK that has resulted in massive oil production from more sister wells. There must have been a lot of back-slapping at Continental when the Blaine County wells were completed. The company produced 7 more sister …
PSO honored for customer relations
Public Service Company of Oklahoma announced Tuesday it has been named a Utility Customer Champion in the 2019 Cogent Syndicated Utility Trusted Brand & Customer Engagement Residential study from Escalent, a top human behavior and analytics firm. The award honors utilities that exhibit exceptional performance on Brand Trust, Service Satisfaction and Product Experience. Of the 140 U.S. …
American Airlines maintenance center adding more jobs in Tulsa
Tulsa’s American Airlines maintenance center plans to add 30 new jobs starting next month. The airline announced it will in-source more component maintenance work in its Brake and Wheel Center at Tech Ops-Tulsa. The support and overhaul support mechanic positions will be shifting from a Collins Aerospace location in Louisville, Kentucky, and will include wheel …
Energy news in brief
** An Exxon Mobil Corp. natural gas well in Ohio released more methane into the atmosphere during a blowout in 2018 than some countries do in a year, according to a team of American and Dutch scientists. Using data from satellites, the researchers found that a well explosion in Belmont county on Feb. 15 of that …
Tallgrass Energy sells some of its outstanding shares in merger agreement
Kansas City based-Tallgrass Energy, LP announced that it has entered into a definitive merger agreement pursuant to which affiliates of Blackstone Infrastructure Partners together with affiliates of Enagas, GIC, NPS and USS will acquire all of the publicly-held outstanding Class A Shares of TGE for $22.45 in cash per Class A Share. The transaction …
Tribe reaches agreement with North Dakota over possible oil spill response
The State of North Dakota has agreed to work with the Standing Rock Sioux Tribe to develop a response plan in the event of a potential oil spill from the Dakota Access pipeline—-the very line that thousands of Native Americans protested against a few years ago. The Associated Press reported that State Emergency Services Director …
Panhandle Oil and Gas reports 2019 loss but also increased adjusted earnings
Oklahoma City-based Panhandle Oil and Gas says it recorded a net loss of nearly $41 million in fiscal 2019 or $2.43 per share while at the same time its adjusted earnings grew 45 percent in the year. The company recently announced its earnings, indicating the net loss of $40.7 million in fiscal 2019 compared to …
NGL Energy declares quarterly distribution
NGL Energy Partners LP in Tulsa announced Monday that the Board of Directors of its general partner declared a quarterly distribution of 56 and 60 cents per share of its units. The distributions will be paid to the holders of the Partnership’s 9.00% Class B Fixed-to-Floating Rate cumulative redeemable perpetual preferred units and the 9.625% Class …
Laredo Petroleum adds new board member
Tulsa’s Laredo Petroleum has added a new member to its board of directors. The company announced the appointment of Craig Jarchow as an independent director and the appointment was effective Dec. 10, 2019. He is the current President, CEO and board member of Castleton Resources, LLC, a natural gas focused company operating upstream and midstream …