In reporting a fourth quarter loss of $1.7 billion, U.S. oilfield services firm Halliburton Co.also disclosed a $2.2 billion charge to earnings as weakening North American shale activity continued to hit the industry. The charge for asset impairments was centered on hydraulic fracturing and legacy drilling equipment units, and employee severance costs, the company said. …
Tulsa refinery operator Holly Energy Partners, L.P. announced that it and its wholly owned subsidiary, Holly Energy Finance Corp. have finalized terms of their offering of $500 million in senior notes. The 5.0% senior notes will be due 2028 and will be issued at a price equal to 100% of the principal amount. The companies …
Phillips 66 and another company are giving up on plans to build a large-scale renewable diesel plant in Ferndale, Washington. Phillips 66 was joined by Renewable Energy Group, Inc. in making the announcement, explaining the decision was made because of permitting delays and uncertainties. Originally announced in fall 2018, this 250 million gallon per year …
Last year’s purge of saltwater in northwestern Oklahoma remains not only an oil and gas industry mystery for state regulators but is also the focus of an investigation by one national news group. Grist, an online publication focusing on the environment reports the saltwater purge has raised serious questions about how the oil and gas …
Oklahoma’s slowdown in the oil and gas industry is reflected in the latest figures for permits to drill and completion reports from the Oklahoma Corporation Commission. The number of Intents to Drill permits issued in the first half of 2019 was 2,549, down from the 3,356 permits issued for all of 2018. That’s a decline …
Oklahoma regulators are considering an application by ONEOK to construct a new pipeline and facilities at its Medford Natural Gas Liquids Processing Plant. The Medford NGL Plant is a natural gas liquids fractionator. Demethanized NGL is gathered from natural gas processing plants and brought to the facility via pipeline. The facility receives raw NGL from two …
** ONEOK, Inc. will release fourth quarter and year-end 2019 earnings after the market closes on Feb. 24, 2020. ONEOK’s executive management will participate in a conference call the following day at 11 a.m. Eastern Standard Time (10 a.m. Central Standard Time) on Feb. 25, 2020. The call also will be carried live on ONEOK’s website. ** Cheniere …
Plans by Texas-based Energy Transfer to double the crude oil capacity of the Dakota Access Pipeline are being challenged by Iowa regulators. Iowa wants Energy Transfer to prove through expert analysis that doubling the line’s capacity won’t increase chances of a crude oil spill. Texas-based Energy Transfer wants to double the capacity of the pipeline …
The South Dakota Water Management Board on Tuesday approved five water permit applications for Keystone XL pipeline construction. The hearing was so contentious that it stretched into a dozen days over the course of four months as American Indian tribes and environmental groups argued against their approval. After holding a brief period for public …
Halliburton Co. on Tuesday reported a fourth-quarter loss of $1.65 billion, after reporting a profit in the same period a year earlier. The Houston-based company said it had a loss of $1.88 per share. Earnings, adjusted for asset impairment costs, came to 32 cents per share. The loss came as Halliburton wrapped up hundreds of …