For the second time in two weeks, a strong earthquake has rattled the northwest Oklahoma area around the Logan County town of Marshall. The late Tuesday morning earthquake measured 3.5 magnitude and had an epicenter about two and a half miles southwest of the town which would put it in Kingfisher County. The depth was …
Tulsa-based NGL Energy Partners LP announced this week it has completed part of its deleveraging plan using the $300 million in proceeds received from the sale of its 50% interest in Glass Mountain Pipeline LLC. The resulting debt reduction includes a prepayment in full of all its 6.65% senior secured notes due June 19, 2022. The …
All is not good in the oil patch for some firms such as Dallas based EXCO Resources. It has been delisted from trading at the New York Stock Exchange. Known for its oil and gas exploration in the Eagle Ford Shale, EXCO has started trading on the OTC Pink Marketplace. The New York Stock Exchange …
A monthly survey of supply managers in Oklahoma and 8 other Midwestern states shows more regional economic growth. The Mid-America Business Conditions Index carried out by Creighton University economist Bernie Goss revealed growth for December 2017, making it 13 straight months of improvement. However, Oklahoma’s overall index in the survey slipped slightly from November from …
The Oklahoma State Supreme Court’s recent decision not to overturn a bribed 1989 Corporation Commission vote on an ATT rate case prompted one consumer to accuse the justices of “dereliction of duty.” The charge comes from Lt. Gen. Richard A. Burpee, the former commanding general of Tinker Air Force Base. He and a handful of …
An accident at an oilfield lease site near the town of Ninnekah in Grady county left one man dead over the weekend. The Oklahoma Highway Patrol identified the victim as Jessie Ray Martinez of Purcell. He was killed when he was caught between the back of a truck and a backhoe that was unloading mud. …
Even though it filed suit against Tulsa-based Citizen Energy over well-drilling sites, the city of Mustang is working to settle the lawsuit in Canadian County District court. As the Mustang Times reported, the city council in a meeting prior to Christmas went into a special executive session over a proposed settlement and journal entry of …
We’ve already seen announcements of pipeline construction and deals in Oklahoma, Texas and Kansas and whether it stems from the new federal tax reform remains in doubt. In all liklihood, the deals were in the works as Congress debated the merits of the reforms before passing them. But energy industry lobbyists and analysts are suggesting …
Just because political leaders in New York convinced the state to ban fracking doesn’t mean everyone’s against it. Take the recent case of attorney David Morabito of East Rochester. He’s been fighting the hydraulic fracturing ban for years and recently filed a lawsuit trying to force New York to compensate him for the oil and …
It is the largest oil play in the U.S. and now the Permian Basin has yielded more barrels of oil than ever before. The production of the play in West Texas came to 815 million barrels in 2017. The previous record was 790 million in 1973 according to IHS Markit. “The magnitude of the …