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Permits to drill for January 31, 2019
Permits to drill issued on Jan. 31, 2019. Alfalfa County STATE OF OKLAHOMA #1-36, January 31 2019 36 28N 11W CSWSW API: 00321313 Lat: 36.85691531565063, Long: -98.33960049718284 HINKLE OIL & GAS INC SH, RC, 6050 ft, CHEROKEE SAND(5007) Creek County BETTY WILSON #1-8, January 31 2019 05 15N 8E E2NWSWSE API: 03729422 Lat: 35.801516377858675, Long: -96.48372157802672 …
Sunoco Pipeline pays $5.4 million in fines over oil spills in Oklahoma, Texas and Louisiana
WASHINGTON – In the latest joint federal-state Clean Water Act enforcement action, Sunoco Pipeline L.P. has agreed to pay civil penalties and state enforcement costs and to implement corrective measures to resolve alleged violations of the Clean Water Act and state environmental laws by Sunoco and Mid-Valley Pipeline Company stemming from three crude oil spills …
Rep. Horn named chair of Space and Aeronautics House subcommittee
Oklahoma’s Democrat congresswoman Kendra Horn has been chairwoman of a House Aeronautics and Space subcommittee. The 5th U.S. District Rep. sits on the House Science, Space and Technology Committee along with Oklahoma Republican Rep. Frank Lucas who is the ranking GOP member on the committee. “I am extremely honored by the opportunity to serve as …
3 firms join forces to build 650 mile new crude oil pipeline in Permian Basin
Lotus Midstream, LLC, a firm with 3,000 miles of pipeline running to the Cushing oil hub in Oklahoma has joined ExxonMobil and Plains All American Pipeline, L.P. in forming a nearly 650 mile pipeline in the Permian Basin of West Texas. The Wink to Webster Pipeline LLC Joint Venture includes construction of a 36-inch-diameter line …
Blackstone Investment makes $3.3 billion purchase of Tallgrass Energy in Kansas City
The investment firm Blackstone has entered into a $3.3 billion contract to acquire 100% of the membership interest in Tallgrass Energy, LP, the big midstream company based near Kansas City, Kansas. Tallgrass has operations in eleven states including storage at the Cushing oil hub in Oklahoma. The deal covers affiliates of Kelso and Co., the …
2018 was a turnaround year for one midstream company
San Antonio’s NuStar Energy L.P., a firm that expanded pipeline capability out of the Permian to Wichita Falls, Texas just across the Red River from Oklahoma announced it made a $79 million gain after making hurricane repairs in 2018. The year proved to be a turnaround for the firm. The company reported the gain was …
Massive turnaround in earnings for ConocoPhillips in the past year
A day after ConocoPhilips announced a quarterly dividend of 30.5 cents per share, the firm announced fourth quarter 2018 earnings of $1.9 billion and full year 2018 earnings of $6.3 billion. The turnaround proved to be gigantic for the firm. The Houston based company with major operations in Oklahoma said the quarterly earnings were $1.61 …
$4 billion acquisition by Chesapeake Energy to be finalized this week
Chesapeake Energy’s $4 billion acquisition of WildHorse Resource Development Corporation is expected to be finalized this week. At the same time, the two firms announced preliminary results of the elections made by shareholders of WildHorse’s common stock regarding the form of merger consideration to be received from Chesapeake. As announced on October 30, 2018, …
Baker Hughes reports 4Q earnings following largest demand in orders in 3 years
Houston’s Baker Hughes reported the fourth quarter of 2018 saw the company’s biggest demand for orders in three years and as a result, the firm reported revenue of $6.3 billion. It was an 11% increase from the third quarter and up 21% from a year earlier. The amount of orders for the quarter totaled $6.9 …
Tulsa’s NGL Energy Partners expands with purchase of propane operation
Figures were not released but Tulsa’s NGL Energy Partners LP has acquired a subsidiary of DCP Midstream, LP, a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado. The two announced they had executed a purchase and sale agreement under which DCP will convey to NGL its wholesale propane business generally consisting of seven natural …