** Tulsa’s Magellan Midstream Partners reported a third-quarter 2019 net income of $237 million or $1.19 per unit. The company announced its total revenue for the quarter was $657 million while the net income was $595 million or $2.60 per unit. ** Mid-Con Energy Partners headquartered in Tulsa had net income of $6 million or …
New Mexico Democrats worried about intentions of their party’s Presidential candidates
CARLSBAD, New Mexico (Reuters) – In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way to thousands of oil rigs. The Democrats who control the state’s government have lofty plans for the billions of …
Encana to move headquarters to Denver and change company name
Canada’s Encana Corp., a major oil and gas operator in Oklahoma announced it is moving its headquarters from Calgary to Denver, Colorado. The company also will change its name to Ovintiv Inc. next year. The decision comes as other majors including ConocoPhillips have been selling Canadian assets and cut back on investments in the country. …
More oil and gas rigs taken out of action in Oklahoma and across the U.S.
Rig counts are still falling across the U.S. and in Oklahoma, the number fell by 3 in the past week to reach 51. A year ago, Oklahoma had 144 active oil and gas rigs in the state. Nationally, the count fell by 8 in the past week to 822. The number of oil rigs dropped …
Gulfport Energy reports a drop in net earnings in 3Q
Oklahoma City’s Gulport Energy Corp. reported a net loss of nearly $49 million in the third quarter 2019. The company said the $48.8 million loss also amounted to a drop of 31 cents a share on total revenues of nearly $285 million for the quarter. Net income for the quarter was nearly $95.2 million or …
Judge puts the brakes to a new law aimed at trains blocking intersections
Burlington Northern Santa Fe railroad has won a temporary injunction against the state and cities from enforcing Oklahoma’s four-month old Blocked Crossing Statute. Oklahoma City U.S. District Judge Charles B. Goodwin granted the injunction at the end of October after BNSF filed suit in August challenging the new law. The suit was against the Oklahoma …
OKC to get ‘private jet on wheels’ bus service in January
Vonlane, the Texas-based premium transportation company, announces its first entry into another state with the launch of service between Dallas and Oklahoma City. Beginning January 6th, business and leisure travelers will have a new option with Vonlane’s daily direct motor coach service. “When Southwest announced that they were ending non-stop service between Dallas and Oklahoma …
3Q losses reported by Cheniere Energy
The third quarter 2019 resulted in a net loss of $318 million or $1.25 a share for Houston’s Cheniere Energy, Inc. the firm with a $1 billion Midship natural gas pipeline running across Oklahoma. The loss compared to net income of $65 million or 26 cents a share a year earlier. The company blamed the …
Hamm confident about Continental Resources’ ability to deal with the market
Rig counts might be lower for Oklahoma City’s Continental Resources, but founder and chairman Harold Hamm remains as confident as ever about the firm’s abilities to produce oil and do it with cost savings. Continental generated $158 million in net income for the third quarter and Hamm spoke about the 20 percent oil production growth …
5,500 barrels of oil a day from Grady County multi-well site
Four wells drilled on the same pad site near the central Oklahoma community of Bridge Creek are producing nearly 5,500 barrels of oil a day for Houston’s EOG Resources Inc. The Texas company recently filed completion reports showing combined production of 5,466 barrels of oil a day from the site located 3 miles northeast of …