Mammoth Energy’s power restoration contract with Puerto Rico helped boost first quarter 2018 earnings for the Oklahoma City company. Helped by the $945 million contract to restore electrical power to Puerto Rico, the company reported a profit of $55.5 million or $1.24 a share. That compares to a $5 million loss a year ago. …
Southern Texas has been rumbling this week with small earthquakes. They’ve occurred in the Eagle Ford oil play and south of San Antonio. The strongest measured 3.4 magnitude. The quakes were in the strongest oil-producing county in the Eagle Ford. The U.S. Geological Survey recorded the quakes near Poth and Runge on Tuesday. Some residents …
Williams and Williams Partners reported first quarter earnings this week. Williams had $152 million in unaudited net income for the quarter as well as adjusted first quarter earnings of $1.135 billion. But the net income was down from $373 million reported last year at this time. The company blamed the drop on a transaction involving …
The divestiture of it its assets in New Mexico’s San Juan Basin apparently paid off for Tulsa’s WPX Energy as it reported first-quarter 2018 product revenue of $407 million. And the company’s exploration in the Delaware Basin resulted in an 8 percent increase over the previous quarter, plus a 149 percent jump from production a …
Like a lot of energy companies, Murphy Oil Corporation based in El Dorado, Arkansas had a glowing report for its shareholders. The company had income of $169 million which amounted to 97 cents a share. The adjusted income was $40 million and the cmopany returned 16 percent of operating cash flow to shareholders through dividend. …
Oklahoma City-based Blueknight Energy Partners, L.P. plans to release its first quarter 2018 earnings report next week. The official release will be Thursday, May 10 before the market opens. A conference call will be held later in the day at 1 p.m. CDT. The company reported net income of $0.4 million for the fourth quarter …
Oklahoma Gas and Electric has put a dramatic end to its $425 million installation of seven modern natural gas-fired units to its former Mustang Power Plant, now called the Mustang Energy Center. The company recently imploded two massive smoke towers that were geographic earmarks for the plant located in west Oklahoma City. KOCO TV caught …
Pipeline operator Tallgrass Energy is reporting what it calls a “strong” first quarter of 2018. Based in Leawood, Kansas and operating in eleven states, the company reported nearly $108 million in net income in the first three months of the year compared to about $71 million a year earlier. Tallgrass operations stretch from Wyoming and …
Continental Resources in Oklahoma City reported nearly $234 million in net income for the first quarter of 2018. It amounted to 68 cents per diluted share. The Harold Hamm company reported $886 million cash flow from operations and a 34 percent increase in production which totaled 287,410 Boe per day average. Continental’s free cash flow …
A Wednesday vote by the Oklahoma Senate has only shored up the state’s image of targeting some of Oklahoma’s new energy industries. Without debate on Wednesday, the Oklahoma Senate adopted a restriction on the olar industry, passing a bill to extend indefinitely a $25 million cap on tax credits to solar energy operators. Sen. …