The U.S. Securities and Exchange Commission (SEC) issued a $1.5 million fine against electric vehicle company Canoo Inc. on Friday, citing reporting failures related to substantial and unreasonable revenue projections. The SEC alleged that Canoo, former CEO Ulrich Kranz and former CFO Paul Balciunas, misled investors about the company’s financial prospects prior to its public …
Rep. Frank Lucas Injured in Oklahoma Ranch Accident
Oklahoma Congressman Frank Lucas was admitted to the hospital after being injured Friday morning while working on his ranch, according to official communication from his office. The release to the media said Lucas’ injuries are non-life threatening. Lucas represents Oklahoma’s District 3 in the U.S. House of Representatives. His area covers much of western, northwestern …
OKC energy firm reports 3,000 barrels a day from 3 McClain County wells
A well site a few miles east of Blanchard, where 3 wells were drilled on a single pad, ended up with more than 3,000 barrels a day of oil production for an Oklahoma City energy firm. The McClain County wells were drilled by Native Exploration Operating LLC of Oklahoma and completed in March of …
Slight gain for crude oil prices on Thursday
After Saudi Arabia and Russia pledged to cut their output through September, crude oil prices made slight gains in trading on Thursday. West Texas Intermediate, the U.S. benchmark, rose 31 cents to close at $81.86 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude finished up 34 cents at $85.48 a barrel …
What will quarterly financial results show for EV maker Canoo?
Investors in the struggling EV manufacturer Canoo will be anxious to learn the second quarter earnings report when it is released on Monday, August 14. The company, with operations in Oklahoma City and Pryor as well as incentive deals with the Oklahoma Department of Commerce, will report its financial results after the market closes …
ConocoPhillips joined the crowd of firms with lower profits and earnings
Like several other majors, ConocoPhillips reported Thursday its second-quarter 2023 earnings and adjusted earnings were lower than the previous year. Second quarter adjusted earnings were 2.2 billion or $1.84 per share compared with the second-quarter 2022 earnings of $5.1 billion and $3.96 per share and second-quarter 2022 adjusted earnings of $5.1 billion or $3.91 …
Oklahoma gas prices keep inching upward
Gasoline prices in Oklahoma rose at least 17 cents in the past week to reach an average this week of $3.56, reported AAA Oklahoma. The average rose 3 cents in the past day. A week ago, Oklahoma motorists paid an average $3.39 a gallon for regular gasoline. A month ago, the average was $3.19. …
Hydrogen has its oponents too
Not everyone is a big supporter of the hydrogen projects that are sweeping the nation. In Oklahoma, the state has partnered with Arkansas and Louisiana in hopes of landing major federal money to develop a hydrogen hub. Colorado is doing the same with New Mexico and a handful of other states. One Colorado environmentalist …
Williams reaches supply contract with Chattanooga Gas
A day after reporting increased earnings in the second quarter, Tulsa’s Williams announced a major contract to supply gas over a 3-year period to Chattanooga Gas, a subsidiary of Southern Company Gas. The deal calls for Williams to provide certified, low-emissions NextGen Gas, which according to the announcement, will allow Chattanooga Gas to achieve …
Chesapeake Energy to expand drilling for natural gas
Considered one of the largest natural gas producers in the country, Chesapeake Energy intends to expand its exploration in two regions of the country— the Appalachian and Haynesville basins. Leaders say even though the Oklahoma City company’s earnings were down from the $1.24 billion reported a year ago, they intend to push ahead with …