Tulsa’s Unit Corporation announced an offer to exchange some of its outstanding Senior notes due 2021 for newly-issued Senior notes due in 2024 and for Junior Secured notes due 2025. The offer is for up to $300 million in the outstanding 6.625% Senior Secured notes due 2021 and $600 million in 7.000% Junior Secured Notes …
Cyprus Energy Partners, L.P. in Tulsa reported a third quarter 2019 increase in revenue and net income as well as adjusted earnings. Revenues reached $108.9 million which was a 28 percent increase over a year ago . Net income for the quarter was $5.5 million, an increase of 11 percent compared to the third …
As Chesapeake Energy shares dropped to their lowest price in more than 25 years in trading on Tuesday prompting one investment firm to dump its shares in the company, CEO Doug Lawler issued a statement of confidence. “Chesapeake continues to strongly believe our current capital and operating program, coupled with the planned 30% reduction …
** The Oklahoma Space Industry Development Authority meets Wednesday in Oklahoma City. The meeting will be at 1:30 p.m. at the Oklahoma Department of Transportation headquarters at the state capitol. ** Bob Murray, former CEO and founder of the bankrupt Murray Energy Corp. has dropped his defamation lawsuit against late-night tv show host John Oliver. …
Tulsa’s Redline Resources LLC has doubled its capacity with a recent expansion into the Permian and Delaware Basins and the opening of a field office in Pecos, Texas. The expansion by the Oklahoma-based artificial lift cable, spooling and cap tubing company includes cable and spooling bays, warehouse and office space as well as …
SandRidge Energy, Inc. in Oklahoma City reported a third quarter 2019 loss of $182 million or $5.12 a share and plans a reduction in fourth quarter spending. The company blamed much of the loss on a non-cash ceiling test write down and said adjusted net losses for the quarter were $17 million or 49-cents …
An attempt by Sunflower Electric Power Corp. to begin construction of a new coal-fired power plant in southwest Kansas is not only drawing criticism but is facing a construction deadline. The company has until March 2020 before a renewed construction permit expires for the proposed Holcomb 2 plant and state regulators have said they won’t …
Two weeks after a leak in the Keystone pipeline in North Dakota spilled an estimated 383,000 gallons of oil onto farm land, the pipeline has been repaired and reopened. TC Energy, formerly known as TransCanada announced the pipeline “returned to service” on Sunday after repairs were made and approval came from the U.S. Pipeline and …
Oklahoma City’s Chaparral Energy, Inc. reported a net loss of $131 million in the third quarter, forcing the company to reduce its rig operations from three to two for the remainder of 2019. But 2020 operations might be carried out with only one rig. The net loss totaled $130.9 million or $2.86 a share while …
An environmental group predicts a water shortage will develop in the Permian Basin with continued exploration by oil and gas firms. The left-leaning Center for American Progress issued a report claiming that increased drilling will result in water shortages for cities and towns, ranchers and farmers, according to Reuters. “Oil and gas leasing in …