ONEOK, Inc. announced that it has agreed to acquire a system of natural gas liquids (NGL) pipelines from Easton Energy, a Houston-based midstream company, for approximately $280 million, subject to customary purchase price adjustments. The transaction includes approximately 450 miles of NGL pipelines located in the strategic Gulf Coast market centers for NGLs, refined …
The politics of a judge’s ruling against Oklahoma law in support of oil and gas
The emerging saga of how well-intended legislation for the oil & gas industry has turned out to be an economic difficulty for the entire state and especially rural Oklahoma. It’s a main topic of Mitchell Talks Energy with Jerry Bohnen.
Vital plans to keep four drilling rigs busy during the 2Q
In a recent SEC filing, Tulsa’s Vital Energy indicated it plans to continue operating with four drilling rigs and two completions crews for the remainder of the second quarter. Vital said it also plans between $750 million and $850 million in capital expenditures for the entire year. “However, we will contnue to monitor commodity …
Former Mach Natural Resources executive rewarded for his work
Last month’s resignation of Daniel T. Reineke, Jr. as an executive at Mach Natural Resources LP netted him a tidy sum. A filing with the Securities and Exchange Commission by the firm showed Reineke, who was Executive Vice President of Business Development of Mach Natural Resources GP LLC, received a lump sum payment …
“Hot Seat” features author of study used to fight Oklahoma law designed to protect oil and gas industry
At the heart of a fight against Oklahoma’s two year old law enacted to protect the oil and gas industry from discrimination by financial firms, is a recently-released study which contends the law is harming rural Oklahoma. It was used in the lawsuit that led last week to an Oklahoma County Judge’s ruling …
PSO filing error leads to consumer groups wanting a restart on the utility’s $218 million rate hike request
Because of errors made when it filed a $218 million rate hike request with Oklahoma regulators, Public Service Company of Oklahoma might have to start the process over again—-if consumer groups get their way. PSO found itself before the Oklahoma Corporation Commission last week fighting efforts by the Oklahoma Industrial Energy Consumers, AARP, Walmart and …
Oil and gas rig totals fall again across Oklahoma and the U.S.
The nation’s oil and gas rig numbers took another decline in the past week and included a fall for the number of rigs in Oklahoma. Baker Hughes reported on Friday Oklahoma’s count dropped by two rigs, leaving 43 active oil and gas rigs. It compares to 51 rigs reported a year ago. Nationally, the …
Mullin raises concern about lack of Air Force commitment to Vance Air Force Base
The nation’s Air Force leaders got an earful of questions and complaints about its Air Bases in Oklahoma from Sen. Markwayne Mullin during a Senate Armed Services Committee hearing. As a member of the committee, he questioned witnesses during a hearing held by the Airland Subcommittee as members explored Air Force modernization in review …
US House to take up FAA reauthorization act after Senate voted for approval
The U.S. House is expected this week to take up the Senate-approved federal aviation bill, one supported by Oklahoma U.S. Senators James Lankford and Markwayne Mullin. The Senate voted Thursday to pass the reauthorization bill which will renew authority for the agency for the next five years. Lankford and Mullin were among the 88 …
Ascent takes on natural gas price slump and proves strong
Oklahoma City’s Ascent Resources Utica Holdings appears to be one of the nation’s natural gas producers that hasn’t been greatly impacted by the slump in national gas prices. The company revealed its first quarter financial report showing $86 million in net income and $218 million in adjusted net income, results that Ascent Chairman and …