After acquiring Oklahoma City-based Enable Midstream Partners, LP in a $7.2 billion deal in February, Energy Transfer LP leadership is now talking of expanding holdings. Energy Transfer’s co-founder and executive chairman Kelcy Warren said this week he was exploring possibly acquisitions in the chemicals business. He made he comments at a conference in North …
National experts to be brought in for I-40 bridge repair in Arkansas
The picture above shows the major crack in an I-40 bridge that spans the Arkansas and Tennessee sides of the Mississippi River. The bridge was shut down Tuesday as state highway engineers asked national experts to help repair the structure as quickly and safely as possible. Repairs to the six-lane bridge into Memphis could …
OGE’s Arkansas customers to get solar power
The first solar farm being built by Oklahoma Gas & Electric in Arkansas is expected to be in operation by the end of the year. Located near Branch, a community just east of Fort Smith, the 5-megawatt farm will sit on 40 acres. Once the farm becomes operational, any Arkansas customer of OGE will …
Biden’s energy sec says ‘pipe is best way’ to transport fuel
The backlash over what some now call the hypocritical comments of Energy Secretary Jennifer Granholm is growing.It came Tuesday when she was at the White House discussing the emergency surrounding the Colonial pipeline and a reporter asked whether rail tankers would be used to transport gasoline supplies to the East coast.“So this particular area of …
New officers picked at OERB
The Oklahoma Energy Resources Board (OERB) is announcing a new slate of officers and two new board members. David Le Norman was elected as the Chairman of the Board of Directors and Kristin Thomas was elected as the Vice-Chairman. David Le Norman is managing partner of Reign Capital Holdings LLC. He has more than …
8-week high hit by US crude oil prices
With another increase in Wednesday’s trading both in the US and in Europe, crude oil prices hit an eight-week high and approached the $70 a barrel mark overseas. Oklahoma energy stocks didn’t go with them. West Texas Intermediate crude went up 80 cents or 1.2% to finish the day at $66.08 on the New …
Ascent Resources Utica Holdings reports 1Q 2021 operating and financial results
The first quarter of 2021 for Oklahoma City-based Ascent Resources Utica Holdings was so strong that it not only generated $54 million of free cash flow but made enough to eliminate all debt maturities until the second quarter of 2024. The company reported adjusted EBITDAX of $240 million and net cash provided by operating …
Continental resumes STACK and SCOOP exploration
One of Oklahoma’s major oil and gas producers is slowly expanding its exploration efforts in the STACK and SCOOP plays. Continental Resources recently received a drilling permit for Blaine County, one of the three principal counties that make up the STACK. It intends to drill the SLAGELL #2-20-29-32XHM, at a site southeast of Thomas and …
SandRidge Energy 1Q earnings doubled
SandRidge Energy reported a major jump in adjusted earnings of $21.7 million in the first quarter 2021 compared to $9.1 million in the previous quarter. The company also saw improved net cash by $48.2 million to a net cash position of $56.5 million compared to a net cash position of $8.3 million …
ALLETE’s CEO named board chair
The board of directors of ALLETE Inc., the Duluth, Minnesota energy firm with wind farms in southern and western Oklahoma picked company President and CEO Bethany M. Owen to be chair of the board. The move was effective Tuesday of this week. Owen has served as ALLETE’s president since 2019 and chief executive officer …
