A fight over pipeline payments led to Energy Transfer LP being sued this week by Exxon Mobil Corp’s XTO Energy shale unit. The disputed payments involve the Dakota Access Pipeline. Reuters reported Energy Transfer hit XTO with deficiency charges and revoked other credits after the oil producer shifted some oil to other outlets last …
The City of Stillwater managed to recover from the February winter storm and historic high gas bills, thanks to some preplanning on the part of city leaders. Click here for Stillwater NewsPress
OGE’s annual shareholder meeting will be held Thursday, May 20 according to a proxy statement filed with the Securities Exchange Commission. This year’s meeting will again be a virtual session because of the COVID-19 pandemic. The agenda includes the election of 10 directors, suggested compensation for company executives and a shareholder proposal calling for …
Phillips 66 predicted this week that its first-quarter loss could approach $700 million, a loss larger than expected because of the severe winter storm that hit the company’s petrochemical operations along the U.S. Gulf Coast. The major refiner, with significant operations in Bartlesville was hit by the February deep freeze which caused large power …
The Kratos XQ-58A Valkyrie drone manufactured in Oklahoma City successfully launched an even smaller unmanned aircraft from inside its internal weapons bay on March 26, the U.S. Air Force announced Monday. The launch came during the Valkyrie’s sixth flight test at the Yuma Proving Ground in Arizona. The drone opened its payload bay doors during flight …
Nearly 200 employees of WPX Energy will lose their jobs as the company wraps up its Tulsa operations over the $12 billion merger with Oklahoma City-based Devon Energy. WPX filed a Worker Adjustment and Retraining Notification or WARN Act with the Oklahoma Office of Workforce Development. The filing listing at least 182 jobs that …
The end of Monday’s trading brought another tumble in crude oil prices in the U.S. but an increase in prices in Europe while Oklahoma energy stocks suffered losses for the day. West Texas Intermediate crude for May delivery dropped $2.80 to $58.65 a barrel in Monday’s trading on the New York Mercantile Exchange. Global …
Minnesota based ALLETE Inc. released its 2020 corporate sustainability report, highlighting the company’s performance related to energy and the environment and pointing to the addition of two more wind farm operations in Oklahoma. The report also focused on the firm’s diversity attempts including numbers reflecting leadership by women and the inclusion of business projects …
Attorney General Mike Hunter and Insurance Commissioner Glen Mulready announced a $25 million settlement with Farmers Insurance for the company’s handling of earthquake claims. An investigation revealed that Farmers denied or failed to properly pay approximately one thousand earthquake claims submitted by Oklahomans who purchased coverage to protect their property. As a result, the …
Gasoline prices have dropped a few cents per gallon in Oklahoma, following a national trend. Oklahoma’s gasoline averages $2.62 per gallon, down two cents from a week ago but still 7 cents higher than a month ago and $1.14 more than one year ago. The $2.62 compares to the national average of $2.87 and …
