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Electrical Transmission Operator Expands Operations into Southwest Missouri
With final approval from the Federal Energy Regulatory Commission, Dallas-based GridLiance Holdco, L.P. has taken over operation of the electric transmission assets of the city of Nixa, Missouri and expanded its operations through the Midwest. Nixa is a suburb of Springfield and the acquisition includes a 10 mile, 69 kV transmission line between the city …
Dividend Announced by Murphy Oil
Murphy Oil Corporation’s Board of Directors announced this week it has declared a quarterly cash dividend of 25-cents a share or $1 a share on an annualized basis. The dividend on the Common Stock of the El Dorado, Arkansas-based company will be payable June 1, 2018 to stockholders of record as of May 14, 218.
New and Improved Mustang Power Plant Swings into Full Commercial Operation
The new and improved Mustang Energy Center owned by Oklahoma Gas and Electric went into full commercial operation in Oklahoma City on March 31. Siemens was a technology partner for the project and supplied seven aeroderivative gas turbines and generators to boost output for the Mustang Plant to nearly 462 megawatts. The new turbines and …
Midstates Makes $58 million sale of Anadarko Basin Holdings
Tulsa’s Midstates Petroleum Company, Inc. announced this week it has sold its Anadarko Basin producing properties in western Oklahoma and the Texas panhandle in a $58 million deal. The identity of the buyer was not revealed. The divested properties, according to Midstates, had fourth quarter 2017 net production of 3,900 barrels of oil equivalent. Anticipating …
Embarrassing Interview for Scott Pruitt As He Admits Not Knowing About Controversial Pay Raises at EPA
Scott Pruitt’s move to correct pay raises given through a loophole in federal law to some EPA employees turned into an embarrassing interview for the former Oklahoma Attorney General. Interviewed this week on Fox News, it appeared Pruitt just dug himself into a deeper hole about using a little known aspect of a law …
Oil Prices Tried to Rebound on Wednesday But Lost at Day’s End
Oil prices dropped in Wednesday’s trading but the slide could have been greater had it not been for a turnaround in the U.S. stock market and a draw on U.S. crude supplies. West Texas Intermediate crude fell 14 cents and settled for the day on the New York Mercantile Exchange at $63.37 per barrel on …
Holly Energy’s 1Q Results to be Released May 1
First quarter results for oil refinery operator Holly Energy Partners, L.P. will be released May 1. With refineries in Tulsa and El Dorado, Kansas and other sites around the country, Holly Energy plans to announce the results before the opening of trading on the New York Stock Exchange. It will hold a webcast conference later …
Tulsa’s Unit Corporation Wraps up $300 million Sale of Interest in Pipeline Company
Tulsa-based Unit Corporation announced Wednesday it has closed on a previously announced deal to sell 50% interest in its Superior Pipeline Company LLC. The $300 million sale is with SP Investor Holdings LLC which is jointly owned by OPTrust and funds managed and advised by Partners Group, a global private markets investment manager. Unit intends …
Devon to Release 1Q results May 1
First quarter 2018 results for Devon Energy Corp. will be released Tuesday, May 1 according to an announcement by the Oklahoma City-based company. The results will be released after the close of U.S. financial markets followed by a conference call the next morning at 10 a.m. Central Time. Earlier this year, the company confirmed an …
Corporation Commissioners Searching for More Funds to Finance Operations
Like every other agency in Oklahoma’s state government, the Corporation Commission is looking for places to fund its growing operations. The petroleum excise tax is one target according to a report in the Journal Record. The paper quoted Corporation Commission Chairwoman Dana Murphy as looking to use more of the excise taxes to cover the …