On the same day Devon Energy released its financial earnings reports and started layoffs of 1,000 workers, the company also made an upsized public offering of 69,000,000 shares of its common stock at a price to the public of $18.75 a share. At th…
Naiton’s Rail Crossings to be Improved on Energy Routes
Nearly $10 million in grants for nine projects in eight states to upgrade and increase the safety of railroad crossings along energy routes have been announced by the Federal Railroad Administration. The grants will go to California, North Dakota, Wisc…
Executive Changes at Devon Energy and ConocoPhillips
Changes in the executive leadership at Devon Energy Corp. and ConocoPhillips were announced this week. The Devon announcements were lost in the news that the company laid off 700 workers at its headquarters and 1,000 company wide.
Darryl Smette…
Chesapeake’s Financial Woes Force George Soros to Dump Stock
Billionaire George Soros doesn’t like what he sees financially in Oklahoma City-based Chesapeake Energy and this week dumped his shares in the company.
The founder of Soros Fund Management LLC also withdrew stakes in Chevron Corporation and NRG …
Devon Energy’s CEO—-No Sacred Cows Around Here
The layoffs of at least 700 workers at Devon Energy’s headquarters in downtown Oklahoma City should be complete by week’s end. But the total number of layoffs in the company will be 1,000 and another 600 could be affected when the energy company …
Transportation Secretary says Bill would Devastate 8-Year Highway Improvement Plan
Oklahoma Secretary of Transportation Gary Ridley says if the legislature approves a bill approved in Senate committee to remove nearly $60 million from the State’s road and bridge fund, it will devastate the Department’s 8-year road improvement plan.
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Iran Remarks Boost Crude Prices on Wednesday
Remarks by Iran’s oil minister sparked a rally for crude on Wednesday. March West Texas Intermediate crude tacked on $1.62 to end trade at $30.66 a barrel on the New York Mercantile Exchange. April Brent crude added $2.32 to settle at $34.50 a barrel o…
OKC’s LSB Closer to Completion of $750 million Ammonia Plant in Arkansas
Oklahoma based LSB Industries, Inc. says its new 375,000 ton ammonia plant is now mechanically complete at the El Dorado, Arkansas facility. The completion of the nearly $730 million project includes the installation of process vessels and rotating equ…
North Dakotans Fight Deep Drilling Experiment
Residents of a North Dakota County are putting up a fight over a deep borehole project they contend will be used for nuclear waste disposal.
Officials of Battelle Memorial Institute, the leader researcher and drilling partner Energy and Environmental …
Seventy Seven Energy Still Struggling—Voluntary Bankruptcy is Still On the Table
Oklahoma City-based Seventy Seven Energy Inc., the spinoff from Chesapeake Energy a few years ago reported Wednesday a drop in fourth quarter 2015 earnings as well as total revenues for 2015 and an increase in losses. And at the same time, it con…
