The investment firm Blackstone has entered into a $3.3 billion contract to acquire 100% of the membership interest in Tallgrass Energy, LP, the big midstream company based near Kansas City, Kansas. Tallgrass has operations in eleven states including storage at the Cushing oil hub in Oklahoma. The deal covers affiliates of Kelso and Co., the …
San Antonio’s NuStar Energy L.P., a firm that expanded pipeline capability out of the Permian to Wichita Falls, Texas just across the Red River from Oklahoma announced it made a $79 million gain after making hurricane repairs in 2018. The year proved to be a turnaround for the firm. The company reported the gain was …
A day after ConocoPhilips announced a quarterly dividend of 30.5 cents per share, the firm announced fourth quarter 2018 earnings of $1.9 billion and full year 2018 earnings of $6.3 billion. The turnaround proved to be gigantic for the firm. The Houston based company with major operations in Oklahoma said the quarterly earnings were $1.61 …
Chesapeake Energy’s $4 billion acquisition of WildHorse Resource Development Corporation is expected to be finalized this week. At the same time, the two firms announced preliminary results of the elections made by shareholders of WildHorse’s common stock regarding the form of merger consideration to be received from Chesapeake. As announced on October 30, 2018, …
Houston’s Baker Hughes reported the fourth quarter of 2018 saw the company’s biggest demand for orders in three years and as a result, the firm reported revenue of $6.3 billion. It was an 11% increase from the third quarter and up 21% from a year earlier. The amount of orders for the quarter totaled $6.9 …
Figures were not released but Tulsa’s NGL Energy Partners LP has acquired a subsidiary of DCP Midstream, LP, a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado. The two announced they had executed a purchase and sale agreement under which DCP will convey to NGL its wholesale propane business generally consisting of seven natural …
An oil spill this week polluted a reported 5-mile stretch of a creek near Enid. The Oklahoma Corporation Commission reported cleanup was underway after the Tuesday morning spill was discovered about 4 miles north of Covington on East Southgate road. The OCC was notified by Great Salt Plains Midstream LLC that some 750 barrels …
Two more large oil wells have been reported in Blaine County’s STACK play in the state. Continental Resources of Oklahoma City filed a completion report this week showing the Til 2-27hm well located about 4 miles northeast of the community of Greenfield had initial production of 1,577 barrels of oil a day along with 7,512 …
Two legislators have taken steps to end Daylight Savings Time in Oklahoma, a move that would affect any oil and gas operator in the state. State Rep. Kevin West and State Sen. Marty Quinn filed House Bill 1117 to end the state’s observance of the system that requires setting clocks forward an hour in the …
Oklahoma City is now a “Gig” City, according to an announcement coming Thursday from Mayor David Holt and Cox Communications. Alongside leaders from Cox Communications, Mayor David Holt will announce that residents of OKC and the surrounding communities now have access to gigabit internet speeds. Gigabit speeds, equal to 1,000 megabits per second (Mbps), allow …