One of the latest energy companies to fall victim to struggling finances is Weatherford International. The oilfield services firm based in Houston, Texas but with a handful of offices in Oklahoma City and Yukon has filed Chapter 11 bankruptcy protection after warning in May that it might do so. Holders of nearly 79% of the …
PAE Applied Technologies, LLC, has agreed to pay $4,200,000 to settle civil claims stemming from allegations that it submitted false claims to the United States Air Force, announced Timothy J. Downing, United States Attorney for the Western District of Oklahoma. PAE is a Delaware limited liability company that provided services to the Air Force under …
Phillips 66 has published its 2019 Sustainability Report titled Purpose and Progress, making it digitally available to employees, communities and investors at www.phillips66.com/Sustainability. The publication builds on the company’s previously released sustainability report and brochures, while proactively sharing Phillips 66’s 2018 performance across its four sustainability pillars of operating excellence, environmental stewardship, social responsibility and financial performance. “Through …
Two companies, one in Kansas City and the other in Houston have announced the start of a binding joint tariff open season to solicit commitments for crude oil transportation. Tallgrass Energy, LP and Kinder Morgan,Inc. through its subsidiary Hiland Crude, LLC made the announcement to carry oil from Bakken origin points on the Hiland Crude …
Gasoline prices jumped 8 cents in the past week in Oklahoma reaching a new statewide average of $2.43 per gallon. The higher average is still below the national average of $2.72 which is six cents higher than last week at this time. AAA Oklahoma reports the average one week ago was $2.35 a gallon. Across …
Houston’s Key Energy Services, Inc. has been warned by the New York Stock Exchange it is not in compliance with the Exchange’s continued listing standards. The company revealed the notification came because over a period of 30 consecutive trading days, the average market capitalization of Key’s common shares was below $50 million. Key’s stockholders’ equity …
WPX Energy announced it is building a new $100 million, 11-story headquarters in Tulsa’s downtown historic Greenwood addition. Demolition of an existing old Spaghetti Warehouse started early Monday morning to make way for the 260,000-square-foot tower. “At the end of the day we decided the best action is to stay in Tulsa. We have a …
The nation’s oil and gas rig count remained unchanged in the past week while the number of active rigs in Oklahoma increased by 2 to reach 102. But the impact of lower oil prices is still reflected in oil and gas producing states as many have significantly dropped in the past year. One year ago, …
An SEC filing by Oklahoma City’s Chesapeake Energy shows the company’s Savings and Incentive Stock Bonus plan lost money last year compared to 2017. The SEC Form 11-K was filed this week and showed the net assets available for benefits fell from $610,818,340 in 2017 to $513,641,672 in 2018. Total investments went from more than …
While FEMA’s been busy dealing with flood victims in Oklahoma in the past few months, its former administrator Brock Long is still facing criticism for not paying back thousands of dollars in unauthorized use of government vehicles. A report by POLITICO shows he has returned only $2,716 of the $151,000 he spent for using …