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EV Energy Partners Headed to Bankruptcy Court
Parent company EnerVest Ltd. based in Houston is not filing for bankruptcy but its publicly traded upstream oil and gas business, EV Energy Partners is headed to bankruptcy court. EV Energy Partners, a firm with operational offices in Elk City, Oklahoma and other states will file for bankruptcy to restructure and reduce its debt. …
Italian Company Announces $360 million Project at Inola
INOLA – Governor Mary Fallin participated in a groundbreaking ceremony on Friday for Sofidel Group, an Italian manufacturer of tissue paper that announced a $360 million capital investment here. The project will include the construction of a new facility that will support 300 jobs in the Rogers County community. “Sofidel will build here a new, …
NGL Doesn’t Expect Impact from FERC Ruling
Another Oklahoma energy company has reviewed ruling by the Federal Energy Regulatory Commission and determined it does not expect a material impact from it. NGL Energy Partners LP, based in Tulsa, owner of Grand Mesa Pipeline LLC does not think there’ll be any harmful effect from the FERC ruling that disallowed income tax allowance cost …
Enable Midstream Reviewing FERC Ruling
Leadership at Oklahoma City-based Enable Midstream Partners, LP is still reviewing the potential impact of a March 15, 2018 FERC announcement. The Federal Energy Regulatory Commission said it would reverse a long-standing policy allowing master limited partnership interstate natural gas and oil pipelines to recover an income tax allowance in cost of service rates. …
Rig Counts Increased in Past Week in U.S. and Oklahoma
More oil and gas drilling rigs were added to the mix in Oklahoma and across the U.S. in the past week according to reports from the Independent Oil and Gas Service and Baker Hughes Co. Oklahoma added 4 to reach 124 while nationally, the count grew by 6 to hit 990. The national count included …
Slight Increase Reported in Oil Prices
Oil prices both in the U.S. and in London were up slightly in Thursday’s trading. West Texas Intermediate crude rose 23-cents to settle at $61.19 a barrel on April contracts on the New York Mercantile Exchange. The 23-cent increase represented a hike of 0.38%. Brent crude in London’s ICE futures also rose 23 cents and …
New Board Member Named at WPX Energy in Tulsa
Tulsa-based WPX Energy announced Thursday that Valerie M. Williams has been elected to the company’s board of directors effectively immediately. Williams has more than 35 years of audit and public accounting experience with Ernst & Young, LLP, most recently as the SouthwestRegion Assurance Managing Partner where she had responsibility for a $500 million audit practice encompassing nine states, 14 …
Court Ruling Shakes Up Workers Comp Law
Four and a half years after an oil-field worker was hurt on a rig near El Reno and filed suit, his lawsuit has led to a State Supreme Court ruling that declared part of Oklahoma’s workers’ compensation law to be unconstitutional. In an 8-0 decision, the high court said injured workers can sue well operators. …
Water Appreciation Day Set for March 20
The thirteenth annual Oklahoma Water Appreciation Day is scheduled for Tuesday, March 20th in the 4th floor rotunda of the Oklahoma State Capitol from 9 a.m. to 3 p.m. The OWRB-hosted event will feature water-related agency and organization booths and displays. Water Appreciation Day presents a unique opportunity for water-focused groups to demonstrate the …
Anti-Fracking Report Says Millions Are at Risk
Oklahoma’s oil and gas industry is skeptical of another anti-fracking report, one Rolling Stone magazine calls “the most authoritative study of its kind” that reveals how fracking is imperiling the health of millions of Americans. The 266-page report was released by critics of fracking who call themselves Concerned Health Professionals of New York and the …