North Dakota officials are dealing with a leak in the original Keystone pipeline, one that passes through Oklahoma and six other states as it carries oil to Gulf coast refineries. The leak covers a quarter-mile swath near the town of Edinburg in Walsh County. Operations were shut down by the pipeline owner TC Energy and …
The slowdown in rig activity in Oklahoma is apparently starting to be felt in some areas of the state when it comes to employment, according to the September figures from the Oklahoma Employment Security Commission. The Commission showed that oil and gas employment in Oklahoma City actually increased by 300 from August 2019 to September …
While oil production was up in the third quarter for Oklahoma City’s Continental Resources Inc., the firm’s $158.2 million in net income or 43 cents a share was down markedly from a year ago when net income was $314 million. The company reported its adjusted net income for the 2018 third quarter was $199.4 million, …
** This week’s bankruptcy of Murray Energy, the biggest privately owned coal company in the U.S. left retired coal miners wondering about the status of their pensions. Murray is the last large coal operator to pay into the pension fund of the United Mine Workers of America. Some believe Chapter 11 bankruptcy will allow the …
A Senate committee in Wisconsin is following Oklahoma’s effort at targeting protesters who trespass onto land owned by oil and gas companies and pipelines. It has approved bipartisan legislation to make it a felony. The Senate Committee on Judiciary and Public Safety approved the measure this week and sent it to the full Senate. A …
Oklahoma U.S. Sen. Jim Inhofe took to the Senate floor this week to introduce what he called a “skinny” version of the National Defense Authorization Act. It’s his plan to continue funding basics of the military and other national security operations. Inhofe’s move came as budget negotiations are still underway but approaching a deadline in …
Tulsa-based ONEOK, Inc. announced its third quarter 2019 financial results showing an 11 percent increase in net income. The company said its net income for the quarter was $309.2 million or 74 cents a share while adjusted EBITDA was $649.8 million, up 5 percent. Results were driven primarily by natural gas liquids (NGL) and natural …
A man who defrauded Oklahoma City’s Chesapeake Energy out of more than $4.3 million was sentenced to more than 10 years in federal prison this week in federal court. Justin Lane Foust of Sulphur had been convicted by an Oklahoma City federal jury in January of six counts of wire fraud, one count of aggravated …
Reports indicate that energy firms and groups, those in Oklahoma and those nationally, contributed to Oklahoma Gov. Kevin Stitt’s campaign in the most recent quarter. The governor raised $208,000 in the quarter that ran from July 1 through Sept. 30. He received $4,000 from Exxon-Mobil’s political action committee as well as $5,000 from the Oklahoma …
The Dallas firm that owns and operates the oil refinery in Tulsa, Holly Energy Partners, L.P. reported a big jump in net income for the third quarter 2019. It was $82.3 million or 78 cents a share compared to $45 million and 43 cents a share in the third quarter of 2018. Distributable cash flow …