From a historical perspective, those U.S. crude oil futures that dropped below $43 a barrel this week did so for the first time since June of 2017. But on Wednesday, prices rebounded. WTI up 4.19 to close at $46.72 – change 9.85% Brent up 4.58 to close at $55.05 – change 9.07% Natural gas up 0.05 to close at 3.51 – change 1.30% Still, …
Canada’s Enbridge Inc. has wrapped up $3.5 billion in deals to consolidate its Houston, Texas based master limited partnership operations. As the Houston Business Journal reported, Enbridge concluded the acquisition of all shares of Enbridge Energy Partners LP and all of the outstanding public units of Enbridge Energy Management LLC. The deals were valued at …
A drop in commodity prices is blamed for Earthstone Energy backing out of its acquisition of Sabalo Energy LLC based in Corpus Christi, Texas. The purchase was announced in October but Earthstone Energy, Inc. executives in Houston said that due to the recent significant decline in commodity prices and the re lated adverse effect on …
Even as we reported how the stock buyups by executives at Oklahoma City’s Chesapeake Energy were growing, more purchases were made this week by leaders of the company. Chairman Emeritus Archie Dunham made still another acquisition as reported by Chesapeake in a filing made Dec. 26 with the Securities and Exchange Commission. His latest purchase …
The Denver Federal Appeals court has ruled against two defendants who appealed after losing a lawsuit filed by Husky Ventures, Inc., an Oklahoma City oil and gas company. The unsuccessful appeal had been filed by B55 Investments, LTD and its president Christopher McArthur. A jury awarded Husky $4 million compensatory damages against B55 and McArthur …
A Colorado company that successfully sued over an employee’s newly-designed sealed bearing pack for mud motors used in oil and gas drilling has lost an attempt to reopen a second lawsuit. The U.S. 10th Circuit Court of Appeals ruled against Hawg Tools, LLC in a legal fight with Newsco International Energy Services, Inc., Newsco International …
The government’s being hauled into court over garter snakes. The Center for Biological Diversity, a group whose complaint sparked an Oklahoma Bar Association ethics investigation of former EPA Administrator Scott Pruitt has sued the Trump administration. The Center wants the government to protect the garter snake’s critical habitat in New Mexico and Arizona. The …
The leaders of a contractors group in Oklahoma are excited after the State Equalization Board certified a $612 million increase in appropriations for the legislature’s 2019 session. “The Association of Oklahoma General Contractors is elated to hear news of Oklahoma’s rebounding economy and record-setting revenue,” said Bobby Stem, Executive Director. In a statement issued over …
Minnesota based Xcel Energy, the firm with more than 200 miles of transmission lines in Oklahoma and wind farm operations in several states plans to review its fourth quarter 2018 financial results in a few weeks. The Minneapolis company announced it will hold a conference call on Jan. 31, 2019 to discuss the results. …
Governor Mary Fallin joined officials last week to help Greenheck Group, a Wisconsin-based manufacturer of air movement, control and conditioning equipment, celebrate completion of phase one of its Tulsa campus. The first phase includes more than 200,000 square feet of operational space and 20,000 square feet of office space that will open in January. The …