Quarterly Drop in Revenue for Baker Hughes

The first quarter of 2017 showed a drop of $148 million in revenue for Houston-based Baker Hughes Co.

The company reported revenue for the quarter totaled $2.3 billion, a 6% drop from the previous quarter.  Compared to the first quarter of last year, the revenue was down $408 million or 15%

The company blamed …

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Dozens of Charges Dropped Against Dakota Access Pipeline Protesters

A published report indicates prosecutors in North Dakota have dropped nearly three dozen cases stemming from arrests of protesters against the Dakota Access Pipeline.

The Bismarck Tribune says the 33 misdemeanor cases were dropped by judges and prosecutors and another 14 were handled through guilty pleas. The majority of the cases involving criminal trespass …

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State House Approves 8-year Tax Credit Extension for Aeronautics Industry

Two weeks after the legislature approved a move to cut-short tax credits for the wind industry, the State House has approved a move to extend by 8 years the tax credit for the aeronautical industry in Oklahoma.

On a 69-18 vote on Monday, the House approved SB 120. Rep. Scott Fetgatter, R-Okmulgee said his …

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107-Year old Mining Safety Regulations Updated in House-passed Bill

Mining safety regulations going back more than 100 years are finally being updated by the state legislature. The Oklahoma House on Monday voted 83-3 to support SB 479, a measure making changes in the regulations.

“Some go back to 1910,” explained Rep. Bobby Cleveland of Lexington. He said the State Mining Department had asked …

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New Mexico Deals with Old Sinkhole near Carlsbad

Sink holes are nothing new around mining of energy exploration towns. Consider the sink holes in northeast Oklahoma due to mining. Or the salt mines near Hutchinson, Kansas.

But the big sinkhole that developed eleven years ago near Carlsbad, New Mexico has the state in a fight over who’s footing the bill for the …

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Seventy Seven Energy’s Merger is Complete With Houston Company

Houston-based Patterson-UTI Energy has wrapped up its merger with Oklahoma City’s Seventy Seven Energy Inc.

The Texas company not only issued nearly 47.5 million shares pursuant to the merger, but repaid all of Seventy Seven Energy’s outstanding debt totaling $472 million. As part of the package, Patterson-UTI entered into an agreement with its lenders …

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Group Fighting Bribed Vote Has Plan to Divide $16 billion it Seeks

A consumer’s group urging the Oklahoma Supreme Court to overturn a more than 25-year old rate case approved in a bribed vote for then Southwestern Bell Telephone company has come up with a plan to divide the $16 billion dollars it wants.

Oklahomans Against Bribery, made up of some of the six who have …

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OKC Climate March to be Held Saturday

Oklahoma City will be the site this coming weekend as part of the national People’s Climate March.

A coalition of groups will host the march Saturday, March 29 beginning at 1 p.m. at the Harkins Bricktown Plaza. The event will invclude music, petitions, and children’s activities followed at 2 p.m. with speakers sharing environmental …

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Legislative Impact on Energy Industry?

With five weeks remaining in the Oklahoma legislative session, a lot could still happen regarding measures affecting energy in the state.

House Speaker Charles McCall told reporters Thursday he still believes the house is ahead of schedule, despite the recent death of Broken Arrow Rep. David Brumbaugh.

When asked about any changes or prospects …

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Increased Dividend Announced by ONEOK

The same week ONEOK Inc. announced formation of a $2.5 billion revolving credit facility, the Tulsa-based company’s board of directors declared a quarterly dividend of 61.5 cents a share.

In Friday’s announcement, the board said the declaration would result in an annualized dividend of $2.46 a share and is payable May 15, 2017 to …

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