Governor Mary Fallin on Monday signed a bill that creates a pilot program, overseen by state agriculture officials and Oklahoma’s higher education institutions, allowing permits to grow industrial hemp. It’s a product that can be used in producing oils and biodegradable plastics. House Bill (HB) 2913 creates the Oklahoma Industrial Hemp Agricultural Pilot Program. The …
Tulsa’s Williams Partners L.P. announced this week a regular quarterly cash distribution of $0.614 per unit for its common unitholders. The company said the new amount is a 2.33 percent increase from the previous quarterly distribution of $0.60 per unit paid in February. The distribution will be payable May 11 to common unitholders of record …
A 14-cent-a-share cash distribution was announced this week by Oklahoma City-based Blueknight Energy Partners, L.P. The amount was unchanged from the partnership’s fourth quarter 2017 distribution. The distributions are payable May 15, 2018 on all outstanding common and preferred units to unitholders of record as of the close of business on May 4, 2018. The …
The group of oil producers and educators behind a petition drive to increase the gross production tax on oil and gas wells in Oklahoma dropped the effort on Monday. Restore Oklahoma Now, Inc. announced it had withdrawn the petition to raise the GPT on new wells to 7% in order to raise $300 million for …
After early declines in Monday trading, oil prices settled higher for the day. Analysts believe concern over potential oil flow disruptions caused by a Saudi-led air strike that killed the head of the Houthi rebels in Yemen was behind the rebound. West Texas Intermediate crude on June contracts were up 24 cents and settled at …
A ruling by a California appeals court against Monsanto is likely to have an impact on lawsuits brought by a handful of Oklahomans who filed suit claiming the company’s product Roundup caused their cancer. The California court refused to revive Monsanto’s lawsuit which had been filed after the state’s Office of Environmental Health Hazard Assessment …
The oil and gas community has pitched in over the past few weeks in helping residents deal with the deadly and devastating wildfires in northwest Oklahoma. “The last three days our little county has been literally burning to the ground and while people were losing a lifetime of hard work and livelihood, the oilfield stepped …
While rain helped firefighters gain more control of the two monstrous wildfires in northwest Oklahoma, the fires have caused an estimated $1.6 million to the Western Farmers Electric Cooperative. In a recent update, WFEC said the fires destroyed lines and utility poles. The most significant damage was in Dewey County where it totaled $745,000 to …
Oklahoma City-based Chesapeake Energy leaders might be wondering about the impact of a Pennsylvania Superior Court ruling on their operations in the state. The Court has ruled a natural gas drilling company trespassed by operating a well through which hydraulic fracturing was used to remove natural gas from beneath the property of a family next …
Schlumberger Limited reported its first quarter 2018 revenue totaled $7.8 billion, a drop of 4 percent compared to the fourth quarter of 2017 and a 14 percent decline from a year ago. The Paris-based company with a major offices in Oklahoma City said its pretax operating income of $974 million took a 29% nose …