Robust oil production helped Oklahoma City-based Devon Energy add $776 million to its operating cash flow but the company is moving ahead with plans to unload billions of dollars in assets in the coming year. CEO Dave Hager says they’re looking for higher returns for shareholders as they push to meeting a $1 billion …
The economy for Oklahoma and 8 other states that make up the Mid-America Business Conditions Index was so strong in October that it scares economist Ernie Goss. And energy is getting the credit in Oklahoma. “It was a good report but some worries. We economists worry when things become so strong,” said the economics professor …
The State Corporation Commission took action Thursday to reduce operations of two Arbuckle wastewater disposal wells in the area of a recent earthquake swarm in Kingfisher County. Matt Skinner, a spokesman for the Commission indicated the wells were under a directive to reduce volumes by 25 percent, on top of a 40 percent reduction imposed …
Oklahoma Congressman Frank Lucas and others on the U.S. House Science Committee will find themselves with a new chairman in the coming year. Chairman, Rep. Lamar Smith, a Republican from Texas has announced he will not seek re-election and will leave Congress when his term ends in 2018. The 16-term Congressman has been considered something …
Updating the controversial Dakota Access pipeline in South Dakota where dozens of Oklahomans once took part in the protests, one farm family has filed suit claiming the company broke its promise to restore its land after construction. The Slack Family Properties LLC filed suit in South Dakota state court this week and it’s believed to …
Oklahoma City-based OGE Energy Corp. reported earnings of $183 million or $0.92 per diluted share for the three months ended September 30, 2017, according to a company press release issued on Thursday. This compares with $184 million or $0.92 per diluted share for the third quarter of 2016. OG&E, a regulated electric utility, contributed earnings of $0.81 per share in the third …
Just declaring an end to the “war on coal” doesn’t mean coal companies no longer have to battle for survival. This week, Armstrong Energy based in Missouri but with big operations in western Kentucky filed for bankruptcy. It was the first coal company to enter into bankruptcy since President Trump took office nearly a year …
Oklahoma Gov. Mary Fallin this week moved to create a broadband network for the state’s first responders. She signed an opt-in letter with FirstNet and ATT to strengthen public safety and increase emergency preparedness by making Oklahoma part of the National Broadband Network. “Today is a good day for Oklahoma as we opt in to …
No wonder Anadarko Petroleum Corp.’s quarterly loss was wider than Wall Street expected. While the company blamed a loss on hedging and a jump in exploration expenses, the Houston-based company also reported it spent $565 million on dry holes in the third quarter,more than double what it spent a year ago. That’s a reflection how …
A Kansas resident fighting proposed wastewater injection wells has stumbled onto a mistake in permitting by the Kansas Corporation Commission. Cindy Hoedel of Matfield Green was poring over the requests of companies when she found the operators had not accurately informed nearby residents of their rights to protest the wells. Now the KCC is figuring …