Faced with shares that have plunged to 15 cents as of Wednesday morning, Oklahoma City’s Chesapeake Energy has proposed a reverse stock split to its shareholders. In a filing this week with the Securities and Exchange Commission, the company said it plans to ask shareholders for approval at an April 13 meeting. The company …
The nation’s energy industry took it on the nose again Wednesday and some of Oklahoma’s oil and gas firms suffered too. Enable Midstream, based in Oklahoma City experienced a 20% drop in stock value as Wednesday trading saw shares trading at $4.75 each. For the year, Enable shares have seen a 68% drop in …
Oklahoma Congressman Kevin Hern is among those fully supportive of any possible U.S. assistance to the nation’s oil and gas industry in light of the massive plunge in oil prices. Joining him in the effort are Rep. Tom Cole and Sen. James Lankford. Hern spoke this week with the Department of Energy about the prospect …
Newfield Energy has found itself on the losing side of a legal fight over a Kingfisher County well that ended up in Oklahoma City federal court. U.S. District Judge Charles B. Goodwin has ruled against the company after it was sued by Curtis and Cheryl Cory in a fight over a power pool contract for …
For a second time, a court has voided the U.S. Forest Service’s North Fork Valley coal exception in southwest Colorado to the Colorado Roadless Rule. The 10th Circuit Court of Appeals vacated the exemption, applying to nearly 20,000 acres, in a 2-1 ruling that overturned a lower court decision. It agreed with conservation groups that …
An Oklahoma man who ran a stop sign and was hit b y a Burlington Northern Santa Fe freight train in 2014 near Afton, Oklahoma has lost his appeal with the Federal Court of Appeals in Denver. Lower courts twice ruled in support of BNSF and against Tyler Malinski and Paula Smith whose husband died …
New Mexico Gov. Michelle Lujan Grisham reacted to the massive downturn in oil prices by vetoing a bill to fund hundreds of highway projects and education funding in her state. The bill would also have allowed her state government to make major new investments in government salaries, public school education, health care and business incentives. The …
** At least a quarter of Iran’s oil rigs are out of action as U.S. sanctions strangle the Islamic Republic’s vital oil industry, according to a Reuters review of financial documents and industry sources, dealing a potentially long-term blow to its oil industry. ** St. Louis coal company Foresight Energy files for bankruptcy, joining its parent company Murray …
The Interstate Oil and Gas Compact Commission is preparing to hold its 2020 annual business meeting in Oklahoma City in May. The May 17-19 event will include discussions on spill prevention, orphan wells, drones, community engagement, the Resource Conservation and Recovery Act, and the Waters of the U.S. Rule. The IOGCC is taking early registration …
Mancamp manufacturer Civeo Corporation says it’s U.S. operations had a drop in revenue in 2019 as the oil and gas industry experienced a slowdown in exploration and production. The Canadian-based company has operations at El Reno and recently reported its U.S. operations generated revenues of $10 million in the fourth quarter of 2019 compared to …