November 14, 2017 archive

Crude Oil Futures Plunge on Tuesday

Oil prices dropped Tuesday to finish at their lowest level in more than a week after the International Energy Agency cut its global crude demand forecasts and warned of a boom in U.S. shale oil production, according to Bloomberg MarketWatch. December West Texas Intermediate crude fell $1.06, or 1.9%, to settle at $55.70 a barrel on …

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Gas Prices Jump in Oklahoma and Across the U.S.

Gasoline prices in Oklahoma have hit an average of $2.35 a gallon, 19 cents less than the national average. AAA Oklahoma says the national average rose 9 cents over the past week while Oklahoma prices went up a nickle a gallon. “Compared to the first half of November last year, gas prices this November are …

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DOT Wants to Hear from Oklahomans About 4-Year Highway Plan

The Oklahoma Department of Transportation has launched an effort to hear from Oklahomans about the department’s transportation priorities in the next four years. The Transportation Improvement Program covers the federal fiscal years 2018 through 2021. The STIP is a planning document required by federal guidelines to detail a list of regionally significant construction projects anticipated …

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EPA Caught Violating Environmental Laws in DC

A report issued this week details how the Environmental Protection Agency paid $1.5 million for subsidized and unoccupied parking spaces in violation of executive orders in Washington D.C. As the government watchdog Judicial Watch pointed out, the waste happened over a two-year period at the EPA headquarters and a regional office in Atlanta, Georgia. The …

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Keystone XL Decision to be Made Monday by Nebraska

If there will ever be a Keystone XL pipeline across Nebraska, a decision will be made Nov. 20 that could either close the door on the project or allow it to move forward. The Nebraska Public Service Commission will meet on that date at 10 a.m. and decide whether to approve the pipeline’s route through …

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Pipeline Firm Seeks Commitments to Ship Oil to Ponca City and Cushing

Based in the Kansas City suburb of Leawood, Tallgrass Energy Partners LP has announced an open season seeking new commitments on its Pony Express Platteville Extension in northwestern Kansas. The deadline for submitting bids in the open season is Nov. 29, 2017. Total commitments on the Extension are 32,500 barrels a day. Pony Express Pipeline …

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Ardmore Trying to Expand Businesses at Municipal Airport

Ardmore’s making efforts to locate more companies and businesses at its regional airport. It is also spending $65,000 by the Ardmore Development Authority to carry out a 26-week labor study on development of the Municipal Authority, according to the Ardmoreite newspaper. The city chose the Dallas company, Site Selection Group to do the study and …

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Net Income Growth Reported by Midstates Petroleum

Midstates Petroleum in Tulsa reported a net income of $3.7 million in its third quarter results a month after the naming of a new company President. David Sambrooks was named President and CEO in October and this week, Midstates reported net income of $0.14 per share. It also reported at net debt of nearly $51.6 …

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Cypress Energy Reports 3Q Revenue Growth

Tulsa-based Cypress Energy Partners, L.P. announced third quarter revenues of $77.7 million, an increase of more than 4 percent from the second quarter. The company said the revenue compared to $81.8 million a year ago. Net income for the three months ending Sept. 30 totaled $0.6 million compared to $0.5 million for the three-month period …

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Latest Budget Bailout Plan Does Not Include Raising Taxes on New Wells

The latest version of a budget bailout bill coming from GOP leaders at the State Capitol does not include a gross production tax hike on new wells but it does propose one on so-called legacy oil wells. The measure is similar to one defeated two weeks ago in the House. It contained an increase of …

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