Holly Energy Partners, L.P. announced a cash distribution of more than 67 cents a share for the second quarter of 2019. The Board of Directors of the Dallas-based company declared the distribution to be $0.6725 per unit compared to 66 cents a unit for the second quarter of 2018. Holly Energy has increased its distribution …
Oklahoma City’s Blueknight Energy Partners, L.P. announced its board of directors declared a quarterly cash distribution of 4 cents a share on the Partnership’s common units. It also declared a cash distribution of $0.17875 per unit on the Partnership’s preferred units. The second quarter distributions for both kinds of units remain unchanged from those paid …
A record-setting lateral measuring 3.4 miles in length has been drilled in the Permian Basin. Basic Energy Services, Inc., a firm with operations throughout Oklahoma’s STACK and SCOOP plays announced this week the record was set by one of its high-spec, 24-hour rig and equipment packages. The well was drilled in Wolfcamp A for Surge …
Schlumberger Limited has a new Chief Executive Officer. The Paris-based company’s board of directors appointed Olivier Le Peuch as CEO and member of the board effective Aug. 1, 2019. He will replace Paal Kibsgaard who will retire on the same date. Kibsgaard is stepping down after 22 years with the company including eight years as …
Oil prices rose Thursday following news that a U.S. Navy ship had shot down an Iranian drone in the Strait of Hormuz. Brent crude went up 0.9% at $64.24 a barrel while West Texas Intermediate futures were 0.6% higher at $57.1`2 a barrel. Observers say the steep increase in oil prices underscores the sensitivity of …
Cheniere Energy, the Houston firm building a huge natural gas pipeline from Kingfisher, Oklahoma south to the Gulf Coast plans to issue its earnings report for the second quarter 2019 on Thursday, Aug. 8, 2019. The report will be released prior to the opening of the market. Company management will host a conference call for …
The International Oil and Gas Compact Commission warns its early bird registration discount expires next week for its 2019 annual convention to be held in North Dakota. The early bird registration discount will expire on July 26, 2019 . After July 22, 2019 the IOGCC stated it can no longer guarantee hotel room availability or the IOGCC Annual Conference group …
The proposed relocation of the national headquarters of the Bureau of Land Management from Capitol Hill to Grand Junction, Colorado is raising questions—even by some in Colorado. POLITICO’s Morning Energy Report found the local newspaper wonders about the move and how much of an impact it might have on Grand Junction. LOWERING THE BOOMTOWN: A mere …
An accident at the Phillips 66 Ponca City Refinery injured 7 persons this week and remains under investigation. It happened Tuesday afternoon around 1 o’clock when the company stated that a “unit upset” occurred “resulting in a brief release of catalyst which is used in the refining process.” “After the release, seven individuals from the …
In California, there have been two significant events in the past several days related to the state’s oil and gas industry. Last week, Gov. Gavin Newsom fired the state’s top oil regulator after learning that fracking permits had doubled without his knowledge since he became governor. He took the action after also learning that some …