The government’s recent helium auction held in Amarillo, Texas resulted in a 135% increase in prices bid during the auction. The average price at the auction held by the U.S. Bureau of Land Management was $279.95 per million standard cubic feet, up from last year’s average of $160.64. The BLM operates and maintains a helium …
Accused of conspiring to suppress competition for oil and gas leases in northern Oklahoma two years ago, Oklahoma City’s Chesapeake Energy and former SandRidge Energy CEO Tom Ward have agreed to pay nearly $7 million to settle a class-action lawsuit. The suit was filed in Oklahoma City federal court in 2016 against Chesapeake, Ward and …
Marathon Oil, a major player in oil and gas exploration in Oklahoma’s STACK and SCOOP plays has executed a long-term natural gas gathering and processing agreement for operations in southeast New Mexico. Marathon’s Permian LLC, a subsidiary of Marathon Oil reached the deal with Lucid Energy group. Lucid provides midstream services to Marathon under a …
Oklahoma energy explorers who have used oil and natural gas gathering systems of Paradigm Energy Partners will find a new operator of the lines. Paradigm has sold its operations in the Williston Basin of North Dakota. Ares Management, L.P. based in Los Angeles says the Paradigm assets will be combined with the Ares’ Van Hook …
Officials at the Oklahoma Rural Association (ORA) announced its initial launch in Oklahoma. As a new, membership association in Oklahoma, the ORA seeks to provide cohesive representation at the State Capitol and in Washington, D.C. on behalf of the industries in rural counties and communities statewide. “For too long, we have seen the needs of …
Ceremonies were held Wednesday marking OGE’s installation of new smart LED lighting on historic Route 66 in the City of Bethany. OGE explained it was building upon the innovative Smart Grid platform and replaced 250,000 street and security lights with smart LED lights in its 30,000 square-mile service area. The smart LED lights allow OGE …
Oklahoma Congressman Markwayne Mullin and others on an Energy subcommittee of the House Energy and Commerce committee plan a markup Thursday of a bill to modernize the Department of Energy’s security missions. The subcommittee will consider legislation H.R. 6511,the Strategic Petroleum Reserve Reform Act authored by Texas Republican Rep. Joe Barton and Democratic Rep. Bobby …
Tulsa’s Magellan Midstream Partners, L.P. has joined forces with Energy Transfer Partners, L.P. based in Dallas and Delek US Holdings Inc. to announce plans to construct a new crude oil pipeline from the Permian Basin to the Texas Gulf Coast region. The 600-mile 30-inch pipeline system is expected to be operational by mid-2020, carrying oil …
Oklahoma City’s Flywheel Energy LLC, a firm once known as Valorem Energy and founded in 2017 has pulled off a nearly $2 billion purchase of shale operations in Arkansas. The company paid $1.865 billion in acquiring Southwestern Energy Company’s natural gas properties and affiliated midstream business in the Fayetteville Shale. The deal is to close …
Flint Hills Resources, a subsidiary of Koch Industries and a firm with operations throughout Oklahoma announced this week plans to expand storage at its terminal in Ingleside, Texas. The outbound crude loading capacity will be increased to nearly 380,000 barrels a day. The project consists of construction of four new crude storage tanks, 60,000 barrels …