Halliburton experienced a drop in its total net income in the third quarter compared to the second quarter of the year and leaders blamed in part the impact of the hurricanes in the Gulf of Mexico. Third quarter net income, according to Halliburton’s release, was $571 million or 65 cents a share, down from …
Oklahoma regulators just suffered a setback at the hands of the State Supreme Court in a fight with Oklahoma City over the suspended collection of franchise fees as part of the 2021 Winter Storm fees. And now it raises major questions about the collection of those fees which were part of the winter storm …
Oklahoma City’s Mammoth Energy Services is about to come under new leadership. CEO Arty Straehla notified the company board of directors he intends to retire effective as of Dec. 31, 2024. He will remain the CEO of the Company until Phil Lancaster, who currently serves as the Company’s Vice President of Corporate Development, transitions …
Some of the Oklahoma energy companies carrying out exploration in eastern Wyoming’s Powder River Basin just got some stiffer competition. Denver-based Anschutz Exploration Corp., yes, the company owned by Phillip Anschutz who once briefly owned The Daily Oklahoman in Oklahoma City, just aquired a big part of the interests owned by the Oxy/Anadarko …
** Stellantis plans to cut a shift at its Toledo Assembly Complex in Ohio, meaning indefinite layoffs of about 1,100 union-represented workers. The automaker, which owns the Jeep, Ram, Chrysler, Dodge and Fiat brands, announced the job cuts Wednesday, which will be effective Jan. 5. ** Georgia-based Freyr Battery will pay $340 million for a Wilmer, Texas …
(Makenzie Huber/South Dakota Searchlight) A nearly $9 billion carbon-capture pipeline backed by Oklahoma billionaire oilman Harold Hamm was hit with another major roadblock this week in South Dakota when voters agreed to repeal a law to ease approval of the controversial pipeline. Hamm was one of the supporters of the $8.9 billion Summit Carbon …
Ascent Resources Utica Holdings, LLC had another strong quarter in the third quarter claimed company Chairman and Chief Executive Officer, Jeff Fisher after releasing the earnings report this week. The Oklahoma City company reported its third quarter 2024 operating and financial results, showing $92 million in net income and adjusted net income of $97 …
The Arkansas Oil and Gas Commission rejected a proposed royalty rate for lithium extraction in the state’s Smackover Formation. Lithium companies that have swarmed over southern Arkansas in search of the mineral from the brine to be used in EV batteries favored a 1.82% rate but the Commission said the firms did not …
Crude oil prices fell in Wednesday’s trading following the re-election of former President Trump, but stunning gains were recorded by Oklahoma energy stocks with some climbing more than 14%. West Texas Intermediate crude dropped 30 cents or 0.42% to settle at $71.69 a barrel on the New York Mercantile Exchange. Global standard Brent …
Increases in crude oil stocks were recorded in the past week across the U.S. and at the Cushing Hub. The Cushing Hub in northern Oklahoma saw a 1.5 million gain in the past week. Its total crude oil in storage jumped from 24.4 million barrels during the week of Oct. 25 to 25.9 million …