Tulsa’s SemGroup Corp. announced it has wrapped up the $350 million sale of a 49 percent interest in the Maurepas Pipeline. The sale was made to investment funds managed by Alinda Capital Partners. The company said under the terms of the agreement, SemGroup has an option to acquire Alinda’s interest prior to the fifth anniversary …
From Politico’s Morning Energy Report: ConocoPhillips CEO Ryan Lance and Continental Resources CEO Harold Hamm quietly joined the board of the National Fish and Wildlife Foundation, according to a batch of emails released to the Sierra Club under the Freedom of Information Act. Interior Secretary Ryan Zinke tells NFWF CEO Jeff Trandahl that “Hamm and …
An Arkansas federal judge has ruled against P.A.M. trucking in a class-action lawsuit involving 3,000 drivers who argued they should be paid even while sleeping in their trucks. U.S. District Judge Timothy L. Brooks in Fayetteville issued his ruling denying the Tontitown, Arkansas-based trucking company a motion to dismiss the lawsuit, The trucking company, with …
Colorado Gov. John Hickenlooper’s concerns about oil and gas drilling on the greater sage grouse have prompted the Colorado Bureau of Land Management to remove nearly 149,000 acres from a December sale of federal oil and gas leases. The BLM announced it would remove 142 parcels totaling 148,797 acres that are in the greater sage …
Reuters is reporting Blackstone Group has agreed to buy Ulterra Drilling Technologies of Fort Worth in a $700 million acquisition. Ulterra, manufacturer of drill bits and downhole tools is said to be one of several oilfield service firms shopped around in recent weeks. The company is not commenting about the sale. But sources indicate Blackstone …
Plans have been unveiled for a Missouri Hyperloop linking Kansas City with high-speed transportation along Interstate 70 to Columbia, Missouri and St. Louis. Black and Veatch released its feasibility study after 9 months of reviewing the possibility of such a transportation line. A report by the Kansas City Business Journal indicated the study claimed the …
Houston-based Schlumberger Limited reports a 2% increase in third quarter earnings of $8.5 billion. The company said its pretax operating income was $1.2 billion which was a 5% increase sequentially. But operations in Oklahoma and Texas didn’t produce the realized revenue that the company was anticipating. Cash flow from operations totaled $1.8 billion leading Paal …
With crude oil gathering and storage operations in Oklahoma, Dallas-based Holly Energy Partners, L.P. announced an increase of its quarterly dividend for the 56th consecutive quarter. The company declared a cash dividend of 66 cents a share for the third quarter of 2018 which was a 3.1% increase over the third quarter 64 cent dividend …
Halliburton Company reported third quarter earnings of $435 million or 50 cents a diluted share. The Houston company with major operations in Duncan, Oklahoma and offices throughout the state considered revenue to be flat. It’s a drop from the $511 million reported in the second quarter of the year when the earnings were 58 cents …
At least three earthquakes were reported over the weekend in Oklahoma, Missouri and Texas. The U.S. Geological Survey indicated at 3.1 magnitude earthquake struck Saturday morning at 7:47 with an epicenter a few miles west of the Post Oak in southern Oklahoma. The epicenter was also about 19 miles southwest of Ardmore with a depth …