The NORDAM Group Inc. in Tulsa has received financial support from a Washington, D.C.-based equity firm in helping the aerospace manufacturer get out of Chapter 11 bankruptcy. The Siegfried family will keep its 50-year ownership of the business but Carlyle Strategic Partners IV L.P. gained a 45 percent ownership of the company. NORDAM filed for …
An investigation is underway into what caused a fiery rupture of a Panhandle Eastern pipeline on Sunday in Missouri. No one was injured according to Energy Transfer LP but the blast limited capacity for Panhandle Eastern. The rupture happened north of Mexico, Missouri which is about 120 miles from St Louis. Power to several homes …
Oklahoma gasoline prices rose again over the past week with this week’s new statewide average hitting $2.23 per gallon, up four cents in the last week. AAA Oklahoma reports it compares to the national average of $2.43 per gallon which rose 3 cents in the past several days. Lawton’s average is up 4 cents a …
We’ve all heard and read stories of how wealthy workers have become because of the oil and gas boom in West Texas. But $180,000 a year for cutting hair? It’s the story reported recently by the Wall Street Journal and is a must read: From The Wall Street Journal West Texas has seen its share of …
After acquiring Newfield Exploration in a $5.5 billion all-stock deal, Canadian energy firm Encana is laying off more than 270 workers at the former Newfield headquarters near Houston. The 275 job cuts will take place between now and the end of May. Newfield, the company with expansive drilling operations in Oklahoma’s STACK play had previously …
Just as earthquake experts started taking a close examination of Oklahoma following its earthquakes in the past few years, scientists are doing the same in the Permian Basin of West Texas. And they’re finding a growing increase in the number of quakes in the Delaware Basin where Oklahoma and other energy companies are going at …
Who wouldn’t like a $5.5 million severance package? It’s what Timothy L. Dove got as he retired immediately last week as chief executive at Pioneer Natural Resources Co. in Irving, Texas. He held the job slightly more than two years and was replaced by the company’s founding CEO and board chairman, Scott Sheffield. Pioneer …
The Oklahoma Corporation Commission meets Tuesday and one of the items on the agenda is an issue still related to the 2017 Tax Cuts and Jobs Act signed into law by President Trump. As a result of the Act, Oklahoma Gas and Electric had a $64 million net rate reduction which was approved by the …
The most recent filing with the Securities and Exchange Commission by ONEOK showed ownership of shares by the company’s Vice President and Chief Accounting Officer. The filing on March 1 indicated ownership of more than 14,000 shares by Mary M. Spears. Nearly 2,800 were part of her 401(k) while the remaining 12,000 were direct …
Oklahoma City’s Devon Energy has released its March Investor Presentation, highlighting its growth and accomplishments in the past year. The presentation emphasizes divestiture proceeds of $30 billion, its new assets and how its portfolio is positioned in the top oil basins in North America. It also discusses superior oil growth and pricing, improved per-unit costs …