A southeast New Mexico county approved construction this week of a solar farm project that will supply electrical power to Chevron USA and its Permian Basin operations south of Carlsbad. The Eddy County Board of County Commissioners voted to issue $40 million in industrial revenue bonds to finance the solar farm reported the Carlsbad …
Nine Energy joins companies with major increases in profits
Active in Oklahoma’s oil patch, Houston-based Nine Energy Service, Inc. had third quarter revenues of more than $167 million and saw a 77% increase in gross profit compared to the second quarter. The company said net income was $14.3 million and adjusted EBITDA was $32.6 million. Adjusted net income for the quarter was $12.2 million …
LSB investor offers shares for sale
LSB Industries, Inc. of Oklahoma City announced that an affiliate of Eldridge Industries LLC intends to offer for sale an aggregate of 14,350,000 shares of LSB’s common stock pursuant to the Company’s automatic shelf registration statement. Eldridge Industries, based in Connecticut makes investments in different industries including technology, real estate, insurance and asset management. …
New state Career and Technology Education Director named
The Oklahoma State Board of Career and Technology Education has selected Brent Haken as the ninth state director of the Oklahoma Department of Career and Technology Education. Haken will begin his official duties as state director in January. He comes to Oklahoma CareerTech from Morrison Public Schools, where he has served as superintendent since …
Toro plans to expand Ditch Witch operations in Perry
Officials from The Toro Company recently announced the company will be expanding its Perry, Okla., manufacturing facility, home to Ditch Witch and other leading construction brands. The move is expected to bring up to 100 new jobs to the rural community and expand its current building by an additional 200,000 square feet. The Toro …
Environmentalists sue Colorado over petroleum burn permit
Colorado’s permit to allow a tanker truck repair center burn vapors from tanks resulted in a lawsuit filed against the state. The suit was filed by the Center for Biological Diversity and North Range Concerned Citizens over the permit issued to Polar Service Center which allows the firm to flare vapors from empty tanks …
More headlines of energy stories
** Press Secretary Karine Jean-Pierre said during Monday’s White House press briefing that President Biden’s vow to “shut down coal plants all over America” was “twisted” by the press. Addressing the crowd at a rally in San Diego County on Friday, Biden suggested that coal plants should be shuttered because they are no longer economically viable. ** The U.S. Department of …
Diamondback exec predicts slowing crude oil production
The top man at Diamondback Energy, Travis Stice, is predicting the nation’s shale industry will continue struggling to expand production. During an earnings call Tuesday in Midland, Texas, where the company is headquartered, Stice also said costs of new shale wells will also rise. What’s behind the lag in production? He blames the aging …
Crude oil prices slipped Monday while OK energy stocks rose
Still worried about China’s COVID-19 restrictions and its decreased demand for crude oil, investors sent crude oil prices falling on Monday. But Oklahoma energy prices scored strong gains for the day. West Texas Intermediate crude for December delivery dropped 82 cents or less than 1% to settle at $91.79 a barrel on the New …
Data breaches result in settlements with Experian and T-Mobile
Attorney General John O’Connor announced Monday that Oklahoma and a coalition of other attorneys general obtained two multistate settlements with Experian concerning data breaches in 2012 and 2015 that compromised the personal information of millions of consumers nationwide. Experian is a credit reporting company that serves over one billion people. The coalition has also …
