As oil prices closed Friday in an upward trend, so did some of the stocks in major oil and gas companies. West Texas Intermediate crude, set at the Cushing hub closed up $1.69 to settle at $53.76 per barrel or 3.25% higher. Brent crude was up $1.38 and closed at $62.56 or 2.26% higher. Natural …
OCC to meet January 22 due to federal holiday on Monday
Since Monday, January 21 is a federal holiday, the Oklahoma Corporation Commission will not meet until Tuesday, January 22. The attached is the signing agenda for the day. Signing Agenda 01-22-19
New Mexico outperforms Oklahoma and other energy states in oil and gas revenue collections
A new analysis shows New Mexico is capturing a greater share in oil and gas revenue than Oklahoma, Texas and six other states. The report was prepared by the New Mexico Tax Institute and Moss Adams. “New Mexico obtains the greatest percentage of total oil and gas production value directly contributing to government revenue when …
Former Commerce Secretary to head energy group pledging $100 million to help Permian Basin towns
The partnership of 17 energy companies, including Oklahoma City’s Devon Energy that pledged $100 million to help towns and residents in the Permian Basin of West Texas and New Mexico will be held by former U.S. Commerce Secretary Don Evans. The Permian Strategic Partnership was formed late last year to help the towns in the …
Williams to release 4Q and full year earnings report in February
Tulsa-based Williams will unveil its fourth-quarter and full-year 2018 financial results in a few weeks. The company plans to release the results after the close of markets on Wednesday, Feb. 13, 2019. Company management will also hold a conference call and webcast with analysts and investors the next morning at 8:30 a.m. Central Time, Feb. …
Schlumberger reports quarterly earnings dropped while full-year grew
The international energy company, Schlumberger Limited reported a drop in fourth quarter earnings but stated that its full year revenue was up 8 percent. A firm with major operations in Oklahoma, Schlumberger reported full year revenue of $32.8 billion while the fourth quarter revenue of $8.2 billion was down 4 percent. Still, the company approved …
Chesapeake Energy Corporation declares a fourth quarter dividend
Chesapeake Energy’s declared a dividend for the fourth quarter on some of its preferred stock. The Board of Directors made the move in an announcement on Friday, Jan. 18. The largest payout will involve more than 2,558,900 shares. 4.50% 5% 5.75% 5.75% (Series A) NYSE Symbol CHK Pr D N/A N/A N/A Date of …
Chinese National formally indicted on charges of stealing trade secrets from Phillips 66 in Bartlesville
The 35-year old Chinese national accused last month of stealing trade secrets from Phillips 66 where he worked in Bartlesville has been formally indicted by a Tulsa federal grand jury. The indictment was announced Thursday by the U.S. Attorney in Tulsa against Hongjin Tan who is accused of the theft of trade secrets, the unauthorized …
Outdated oath still has to be taken by Oklahoma Corporation Commissioners
We’ve previously carried stories about the oath taken by Oklahoma Corporation Commissioners—how it refers to steam boats, sleeping car lines, telegraph lines and even canals. Commissioner Bob Anthony, who took his 6th such oath on Monday thinks it’s obviously outdated, but he still swears to the oath, because in his opinion, it’s the constitution. And …
Investor calls for changes at OKC’s Gulfport Energy
One of Gulfport Energy Corps.’s major investors, Firefly Value Partners is urging the Oklahoma City company to begin a $500 million buyback program. In a letter sent this week to Gulfport Energy directors, the New York City-based hedge fund’s leaders also urged the firm to sell its 22 percent ownership in Oklahoma City-based Mammoth Energy …