Empire Petroleum Extends Revolving Credit Facility to 2028 Credit Facility Extension Supports Long-Term Strategy Tulsa-based Empire Petroleum Corporation has secured additional financial runway after executing a third amendment to its revolving credit facility with Equity Bank, extending the maturity date by two years. According to the company’s announcement and a filing with the U.S. Securities …
Category: Oil & Gas
Oklahoma oil experiences in Venezuela
Some Oklahoma oil and gas firms have had their share of experiences with the Venezuelan regimes that ran the country’s oil industry. They have not been good. Executives at Helmerich & Payne in Tulsa experienced the tough-handed decisions going back to a 2007 agreement in which the company agreed to supply its drilling rigs …
Scott Mitchell talks energy with Jerry Bohnen—the latest house cleaning at the Corporation Commission
https://www.facebook.com/reel/1576359276700637 Eyebrow-raising personnel changes at the Oklahoma Corporation Commission. It’s what Scott Mitchell and Jerry Bohnen discuss on the latest Scott Mitchell talks energy with Jerry Bohnen podcast. First there was the firing of Brandy Wreath followed this week by the termination of Trey Davis as Chief of Communications. What’s behind the housecleaning?
New Mexico Sues Oil Firms Over Abandoned Well Cleanup Costs
New Mexico Sues Oil Operators Over Abandoned Well Cleanup Costs Attorney General Targets Alleged Shell Company Scheme New Mexico Attorney General Raúl Torrez has filed a lawsuit aimed at forcing oil and gas operators to pay for cleanup and plugging of aging wells, accusing a group of executives and companies of deliberately shifting environmental liabilities …
Energy briefs
** A defiant Nicolás Maduro declared himself “the president of my country” as he protested his capture and pleaded not guilty on Monday to the federal drug trafficking charges that the Trump administration used to justify removing him from power in Venezuela. ** Vistra Corp. says it’s buying Cogentrix Energy in a deal estimated at …
Baker Hughes ends joint venture with Cactus
Baker Hughes announced Friday the final closing of its previously announced joint venture with a subsidiary of Cactus, Inc., in which Baker Hughes has contributed its surface pressure control product line. Cactus, a global manufacturer and service provider of pressure control equipment for oil and gas drilling, completion and production, holds a 65% equity in the joint venture, …
Crude oil up $1 a barrel following capture of Venezuelan leader Maduro
The first public trading of crude oil following the weekend capture of Venezuelan dictator Nicolas Maduro by U.S. troops prompted a $1 a barrel gain for crude oil prices. But natural gas dropped nearly 10% and Oklahoma energy stocks recorded mostly losses for the day. Investors considered the impact of Maduro’s capture as leader of …
Logistics behind abandonment of nickel refinery project in Lawton
A recent report in the Southwest Ledger offered an explanation why Westwin Elements made the decision against construction of a large-scale commercial nickel refinery in Lawton. The company had announced earlier in December its decision. But now a further explanation came from Richard Rogalski, executive director of the Lawton Economic Development Authority who said the …
Oklahoma Secures Mercedes-Benz Diesel Settlement
Oklahoma to receive funds from Mercedes-Benz diesel settlement State joins nationwide emissions enforcement action Oklahoma will receive more than a quarter-million dollars as part of a nearly $150 million nationwide settlement with Mercedes-Benz over allegations the automaker violated U.S. diesel emissions laws. The settlement resolves claims that Mercedes-Benz used software designed to defeat federal diesel …
Billionaire expands into AI industry in west Texas
Eric Schmidt Enters AI Energy Race With West Texas Project Former Google CEO Backs Power-Heavy Data Center Strategy The former chief executive of Google is stepping directly into the race to solve one of the biggest constraints facing artificial intelligence and large-scale data centers: energy supply. Eric Schmidt, 70, has launched a new venture called …