A Houston-based oil company on Monday sued two container ship operators and an organization that helps oversee marine traffic, saying they failed to prevent last fall’s underwater pipeline leak off the Southern California coast. Amplify Energy Corp., which owns the pipeline that ruptured and faces a criminal charge for its oversight, claims that in …
Phillips 66 sets new goal for reduction of greenhouse gas emissions
Phillips 66 announced that it intends to reduce the greenhouse gas emissions intensity from its operations companywide 50% by 2050. The new target builds upon the company’s previously announced Scope 1 and 2 GHG emissions reduction targets. “We are committed to being part of the solution and helping the world address climate change,” said …
Gulfport Energy reports improved 4Q earnings and focus on the Utica
A restructuring at Oklahoma City-based Gulfport Energy led to $558.1 million in fourth quarter 2021 net income and $224.9 million of adjusted EBITDA. The company said its operations during the quarter generated $128.3 million net cash and $133.9 million of free cash flow. It compares to $126.3 million of net cash flow and $69.7 …
Gains reported by Civeo in 4Q report
It’s been a rough few years for man-camp operator Civeo, the Houston-based company that a few years ago laid off workers from its small Oklahoma operation. This year is different as Civeo reported fourth quarter 2021 operating cash flow of $25.3 million, adjusted EBITDA of $34.5 million and free cash flow of $26.1 million. …
A wind blade junk pile—not in our state say some Nebraska residents
Landowners and residents of the southwest Nebraska city of Sidney are keeping a wary eye on a pile of old wind turbine blades stored just across the state line in Colorado. They want to make sure the blades aren’t buried in their state. Nebraska legislators are considering legislation to ban the disposal of old …
Chevron to buy biodiesel producer for $3.15 billion
Chevron Corp. confirms it is acquiring Iowa based Renewable Energy Group, a leading U.S. biodiesel producer in a $3.15 billion deal. Renewable Energy, also known as REG, is based in Ames and Chevron is acquiring the firm of $61.50 a share reported The Des Moines Register. Click here for Des Moines Register
More energy headlines
** Chevron Corp.’s $3.1 billion purchase of Renewable Energy Group Inc. is a statement of the oil giant’s intent to accelerate its energy transition strategy, according to Chief Executive Officer Mike Wirth. ** Firestone will pay $3.35 million in civil penalties for Clean Air Act violations and other infractions at its synthetic rubber manufacturing facility in Sulphur, …
Supreme court to decide Oklahoma’s EPA challenge
Now it’s up to the Supreme Court to decide on the challenge made by Oklahoma, West Virginia and 18 other states to the EPA’s move to limit emissions from power plants under the landmark Clean Air Act. Oral arguments were heard Monday in what is called the most significant environmental case in a decade, …
Increased natural gas prices lead to increased earnings for ONEOK
Higher natural gas prices led ONEOK to large increases in its fourth quarter and full-year 2021 earnings according to a company release on Monday. The company had $3.3 billion in adjusted EBITDA for the year. The full-year earnings were up 24% from full-year 2020. The company’s fourth quarter adjusted EBITDA was $846.6 million, a …
Crude finishes above $100 a barrel amidst Russian invasion of Ukraine
Crude oil prices in Europe settled above the $100 mark in Monday’s trading as the fighting grows in Ukraine where Russian soldiers attempt to surround the capitol of Kyiv. Oklahoma energy stocks soared along with the increase in crude. Global benchmark Brent crude for April delivery went up $3.06 and finished the day at …
