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Energy News

ODOT Update for August 2019

The Oklahoma Transportation Commission meeting on Monday included updates on a federal transportation funding bill in Congress, approval of a contract for a major upgrade to US69/75 in southeastern Oklahoma, the recent opening of the new Purcell-Lexington bridge and presentation of an industry award for an Oklahoma Department of Transportation …

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Tulsa International Airport Study Funded by Oklahoma Aeronautics Commission

The Oklahoma Aeronautics Commission recently voted to approve $300,000 to conduct a study at the Tulsa International Airport which may lead to the construction of a new air traffic control tower, according to a report published Thursday in The Journal Record. The Federal Aviation Administration will analyze the necessity and …

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Panhandle Oil and Gas Posts $15.4 Million Income for 3Q 2019

Oklahoma City-based Panhandle Oil and Gas reported net income grew to $15.4 million or $0.92 per share for its third quarter ending June 30, 2019. This compares to $14.1 million or $0.83 per share for the same period in 2018, according to a company press release issued on Thursday. Panhandle …

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CSI Compressco LP Optimistic About 2Q 2019 Results

Despite posting a $2.9 million net loss for the second quarter of 2019, Houston’s CSI Compressco LP remains optimistic that the company is headed in the right direction as revenue increased sequentially by 31 percent, according to a company press release. The company posted a net loss of $12.5 million …

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Halcon Resources Corporation Files Second Bankruptcy Petition

With support from major stakeholders, Houston-based Halcon Resources Corporation voluntarily filed for Chapter 11 bankruptcy protection on Wednesday, according to a company press release. The beleaguered energy company previously filed for bankruptcy in 2016 but continued to struggle following its initial restructuring efforts. The new plan will allow Halcon to …

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Plan to improve Tulsa’s old flood levee system close at hand

Sen. Jim Inhofe’s office reports a possible plan with a cost estimate to improve Tulsa’s levee system is expected next week. The Tulsa World reports the Tentatively Selected Plan will outline proposed work, including a cost estimate that will serve as a placeholder in the fiscal year 2021 federal budget. …

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Rig counts up internationally but down in the U.S.

Baker Hughes, a GE company announced that the Baker Hughes international rig count for July 2019 was 1,162, up 24 from the 1,138 counted in June 2019, and up 165 from the 997 counted in July 2018. The international offshore rig count for July 2019 was 255, up 9 from the 246 counted in June 2019, and …

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WOTUS rule nearly at its end

The controversial Waters of the U.S. Rule created by the Obama administration 4 years ago is about to die, according to some analysts and observers. The Oklahoma Farm Report quotes one official with the National Cattlemen’s Beef Association as predicting the rule could see its end perhaps sometime this month. …

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Self-driving trucks are here!

The era of self-driving trucks is here.  They’re already on the interstate highways between Dallas and Houston, Texas. The Dallas Morning News reports a year old company called Kodiak Robotics is the first self-driving trucking company operating in the state. FedEx Office will begin testing an automated delivery system of …

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Jump in earnings for pipeline operator in Oklahoma

Houston’s Plains All American Pipeline, L.P. and Plains GP Holdings reported a dramatic increase in earnings for the second quarter of 2019. Net income rose from $100 million a year ago to $446 million for the company with pipeline operations in Oklahoma that connect to the Cushing hub. It resulted …

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