ConocoPhillips announced that it has entered into a settlement agreement with Petróleos de Venezuela, S.A. (PDVSA), the Venezuelan state-owned oil company, to recover approximately $2 billion, the full amount awarded to ConocoPhillips by an arbitral tribunal constituted under the rules of the International Chamber of Commerce (ICC), plus interest through the payment period. PDVSA has …
Plains All American Pipeline, L.P. and Plans GP Holdings, firms with pipelines all over Oklahoma and the U.S. announced October 1st will be the effective retirement date for company co-founder Greg Armstrong. The retirement was announced last fall but not until this week did the Board of Directors and Armstrong, Chairman and CEO set the …
Executive changes have been announced by Murphy Oil Corporation based in El Dorado, Arkansas. The company said the moves are effective Sept. 1, 2018. Eric M. Hambly, currently Senior Vice President, U.S. Onshore, of the company’s wholly owned subsidiary, Murphy Exploration & Production Company (“EXPRO”), has been elected Executive Vice President, Onshore of Murphy Oil Corporation …
Houston’s PrimeEnergy Corporation, a firm that focuses its energy efforts primarily in Oklahoma, Texas and West Virginia announced second quarter financial results this week, showing an increase in revenues but a loss of $560,000. The loss compared to a profit a year earlier. On a per-share basis, the company said the loss was 27 cents. …
Oil and gas industry manufacturer Kimray in Oklahoma City plans a job fair this weekend to fill more than 70 positions at its operations. With industry leading pay starting at $14.50 per hour and a 15 percent shift differential, the company will hire for positions across many departments, including machining, assembly, engineering and administration. “This …
American Electric Power has named Peggy Simmons president and chief operating officer of Public Service Company of Oklahoma (PSO) effective Sept. 8. Simmons replaces Stuart Solomon, who is joining AEP’s generation organization as senior vice president – Generation Services. Simmons will be responsible for all aspects of PSO’s service, including customer service, distribution operations, safety, …
Houston’s Saxet Petroleum, Inc., , a firm with core positions in Oklahoma’s STACK and SCORE plays received a $100 million equity commitment recently from Post Oak Energy Capital, LP. Post Oak made the announcement on Monday indicating that it achieved the commitment through investment partnerships it manages. The commitment is for Saxet III Minerals, LLC. …
The recent $289 million judgment against chemical maker Monsanto, won by a former California school groundskeeper dying of cancer is similar to lawsuits filed against the company in Oklahoma. The California jury agreed with Dewayne “Lee” Johnson that his use of Monsanto’s weed killer Roundup contributed to his non-Hodgkin’s lymphoma. It awarded him $289 million …
In a move that will affect coal-fired electric generating plants in Oklahoma and across the U.S., President Trump could unveil a plan on Tuesday to rewrite government rules to help operators of those plants. The plants were targeted by the Obama Administration using the Clean Power Plan which was attacked by then-Oklahoma Attorney General Scott …
Chesapeake Energy Corporation on Monday announced the appointment of Mark A. Edmunds to the Board of Directors, effective August 17, 2018. Edmunds will serve as a member of the Audit Committee and the Compensation Committee and will stand for re-election at the 2019 annual meeting of shareholders. Chesapeake Chairman R. Brad Martin commented, “We are very pleased to welcome …