• Production grows at WPX Energy, but losses mount

    BY ROBERT EVATT, Tulsa World | Published: Wed, Nov 4, 2015

    Although WPX Energy reported record liquids production for their third quarter, losses at the Tulsa-based company continue to grow. WPX reported third-quarter revenue of $537 million, compared to $747 million in the third quarter of 2014. The company also reported a net loss of $234 million, or a loss of 93 cents per share, compared to net income of $62 million, or 30 cents per share, in the previous year. Losses have continued to mount, as the second-quarter loss was $30 million, and the first quarter had net income of $67 million. The company noted that significantly lower commodity costs decreased revenue by $159 million in the third quarter.

  • Magellan Midstream Partners posts solid gains, stock soars

    BY SAMUEL HARDIMAN, Tulsa World | Published: Wed, Nov 4, 2015

    Magellan Midstream Partners attributed its third-quarter success to high gasoline demand that drove volume through the company’s pipelines, as well as some issues at refineries that forced more product into Magellan pipes. The company posted earnings per share of $0.86 in the third quarter, which a sizable increase from the $0.68 a share guidance the company offered in August. Magellan’s stock rose on the good earnings news, up to $69.14 at the end of the day from $66.94 at the market’s opening.

  • Revenue drops sharply at ONEOK Partners, but profits outpace 2014

    BY ROBERT EVATT, Tulsa World | Published: Tue, Nov 3, 2015

    Revenue declined sharply year-over-year during ONEOK Partners' third quarter, but that didn't stop the company from boosting its profits. The Tulsa-based natural gas company reported third quarter revenue of $1.5 billion, down from $2.8 billion during the third quarter of 2014. However, net income rose to $226.9 million for the quarter, or 45 cents per share, up from $167.2 million, or 32 cents per share, the same time last year.

  • Lawmakers get update on earthquakes as Oklahoma on pace for 1,000 quakes this year

    BY BARBARA HOBEROCK, Tulsa World | Published: Fri, Oct 30, 2015

    The 90-day average of earthquakes has dropped, but the state still could see up to 1,000 temblors this year, a legislative panel was told Friday. The presentation was part of an interim study on earthquakes. Jeremy Boak, Oklahoma Geological Survey director, said the 90-day average for earthquakes in July began to go down. It dropped from about 5.0 per day to 3.5 per day, he said.

  • Oklahoma gasoline prices could fall even more

    BY JOHN STANCAVAGE, Tulsa World | Published: Thu, Oct 22, 2015

    The common price of regular unleaded gasoline dipped below $2 a gallon in Tulsa on Thursday afternoon, about a month after rising above that mark. Many convenience stores were posting $1.99 in the city, down from $2.02 the day before. “I wouldn’t say we’re in a free fall, but it’s definitely a nosedive,” said Chuck Mai, a spokesman for travel club AAA-Oklahoma.

  • Study: Quakes linked to injection well activity dating back to 1920s

    BY CURTIS KILLMAN, Tulsa World | Published: Wed, Oct 21, 2015

    A new study by the U.S. Geological Survey links injection well activity to most of the strong earthquakes in Oklahoma occurring not only in recent years, but throughout the 20th century. The study, released Tuesday, found that strong statistical evidence points to wastewater injection well activity as the cause of most Oklahoma earthquakes with a magnitude of 3.5 and greater. The evidence indicates there is a less than 1 percent chance that the correspondence between earthquakes 3.5 magnitude and greater occurring in the same area as injection well activity were random events, said Susan Hough, a USGS seismologist who was a co-author of the study along with colleague Morgan Page.

  • VIDEO: Tank explosion at Owasso rock quarry captured on helmet camera

    FROM TULSA WORLD STAFF REPORTS | Published: Wed, Oct 14, 2015

    A firefighter with the Limestone Fire Protection District had a camera mounted to his helmet that captured the moment a tank exploded at Tulsa Asphalt Monday. A fire at an Owasso rock quarry Monday caused a fuel tank at the site to explode, injuring three firefighters and sending two to the hospital. The blaze drew a large emergency response to Tulsa Asphalt, located near 66th Street North and 129th East Avenue.  The fire started Monday morning while employees were cleaning the tanks. The cause of the blaze is under investigation, according to Rogers County Emergency Management Director Scott Stokes.

  • Tulsa-based Williams Cos. outlines policy for possible layoffs

    BY JOHN STANCAVAGE, Tulsa World | Published: Mon, Oct 12, 2015

    More information has begun to bubble up about the proposed $37.7 billion merger between Tulsa-based Williams Cos. and Energy Transfer Equity LP. In a recent filing with the Securities and Exchange Commission, Williams said it did not anticipate widespread layoffs. Prior to this, Dallas-based ETE had said only that it would keep a “meaningful presence” in Tulsa. “We don’t expect the large majority of Williams employees to be impacted by potential severance,” Williams says in the latest filing.

  • Report: Williams Cos. investors file class action suit over ETE sale

    BY CASEY SMITH, Tulsa World | Published: Tue, Oct 6, 2015

    Two Williams Cos. investors filed a putative class action suit against the Tulsa-based energy company Monday, alleging that the $37.7 billion sale to Energy Transfer Equity announced last week undervalues Williams Cos. The lawsuit was reported by  Law360 , a subscription-based legal news service operated by LexisNexis subsidiary the Portfolio Media company. According to the Law360 report, the suit against Williams was filed in Delaware Chancery Court by Williams Cos. investors Richard Greenwald and Joyce B. Greenwald. 

  • Williams Cos. sold in $37.7 billion deal; ETE says it will keep a 'meaningful presence' of jobs in Tulsa

    FROM TULSA WORLD STAFF REPORTS | Published: Tue, Sep 29, 2015

    With more than 1,000 employees in Tulsa, the fate of Williams Cos. has been the source of much speculation since Dallas-based Energy Transfer Equity began pursuing it this summer. On Monday morning, ETE announced that it would buy Williams in a $37.7 billion deal. Energy Transfer Equity LP will pay $43.50 per share, a 4.6 percent premium to Williams’ Friday closing price of $41.60. Williams shares plummeted more than 12 percent Monday.

  • Williams, ETE announce acquisition in $37.7 billion deal

    FROM TULSA WORLD STAFF REPORTS | Published: Mon, Sep 28, 2015

    Dallas-based Energy Transfer Equity announced Monday morning that it would buy Tulsa-based Williams Cos. in a $37.7 billion merger deal. Energy Transfer Equity LP will pay $43.50 per share, a 4.6 percent premium to Williams' Friday closing price of $41.60. Williams' stockholders can choose shares of Energy Transfer Equity affiliate Energy Transfer Corp., cash or a combination of both. Williams' stockholders will also receive a one-time special dividend of 10 cents per share that will be paid immediately before the acquisition closes.

  • Report: Williams Cos. board to consider revised offer as early as this week

    BY CASEY SMITH, Tulsa World | Published: Wed, Sep 23, 2015

    Williams Cos. board of directors could meet as early as this week to consider a revised offer from Energy Transfer Equity, according to an exclusive report from  Reuters  on Wednesday. The article states that ETE has changed its original all-stock offer to buy Williams. Under the new deal, ETE would pay for about 15 percent of the Tulsa-based pipeline company in cash. Reuters reported that its anonymous sources are cautioning that the exact amount of cash the deal could include is still being negotiated.

  • Tulsa startup Big Elk Energy Systems thrives as first anniversary approaches

    BY CASEY SMITH, Tulsa World | Published: Fri, Sep 18, 2015

    Big Elk, the surname the 19th-century Osage leader gave to his descendants, has since been lost as the family’s last name. But last year, Geoff Hager, Chief Big Elk’s great-great-great grandson, brought the family name back in a different way. Hager is founder and general manager of the new west Tulsa-based pipeline equipment manufacturing company Big Elk Energy Systems LLC.

  • Report: Company could purchase Williams Cos. within two weeks

    BY CASEY SMITH, Tulsa World | Published: Thu, Sep 17, 2015

    Citing anonymous sources, Bloomberg issued a  report Wednesday  stating that Energy Transfer Equity LP could announce a takeover of Williams Cos. within 7 to 10 days. According to the anonymous sources in the Bloomberg story, ETE and Williams are in “advanced talks about a deal that could be announced in the next week and a half.” No deal has been finalized and could still fall through, the sources said.

  • Samson Resources files bankruptcy as shale bet sours

    Published: Thu, Sep 17, 2015

    Oil and gas driller Samson Resources Corp. filed for bankruptcy in Delaware Wednesday night, undone by a collapse in energy prices and billions in debt that KKR & Co. and other investors piled on to fund a 2011 takeover. Tulsa-based Samson and its owners were stung by the price drop that put money into the pockets of consumers through lower gasoline and heating costs, while driving other producers, such as Sabine Oil & Gas Corp. and Quicksilver Resources Inc., into Chapter 11. Samson’s filing is among the biggest energy bankruptcies in the U.S. this year, but it probably won’t be the last.

  • Remains exhumed in Osage County grave identified as Pawhuska oilman

    BY KYLE HINCHEY, Tulsa World | Published: Tue, Sep 15, 2015

    PAWHUSKA — A body found in a shallow grave in rural Osage County last week has been identified as a Pawhuska oilman who disappeared after returning home from a local country club the previous weekend. The Osage County Sheriff's Office confirmed Tuesday that the remains belong to Ricky Holt, 46.  Two brothers — Jeremy Keith Reece, 31, and Tyler Wayne Reece, 18 — were arrested and charged in his death after the grave was found.

  • Houston company reportedly no longer interested in Williams Cos.

    BY CASEY SMITH, Tulsa World | Published: Mon, Sep 14, 2015

    Well, scratch that. In case you missed it, late Friday afternoon Reuters reported that Spectra Energy is  no longer trying to buy Tulsa-based Williams Cos .   The Reuters reporter who  broke the story last month  that Spectra had joined the ring to buy Williams released Friday's article stating that's no longer the case. Both reports cite "people familiar" with the matter. According to the new report, the exit of Houston-based Spectra increases the likelihood that Energy Transfer Equity could succeed in buying Williams.

  • Oilman's apparent slaying leaves Pawhuska residents looking for answers

    BY KYLE HINCHEY, Tulsa World | Published: Thu, Sep 10, 2015

    PAWHUSKA — The apparent slaying of a prominent oilman has left close friends desperate for answers and a tight-knit community in rural Osage County in shambles. Investigators with the Osage County Sheriff's Office spent Thursday exhuming a body from a shallow grave found the day before on private property near Pawhuska. Deputies are hesitant to speculate on the identify of the buried remains, but those close to the case are confident that the body belongs to Ricky Holt, a lifelong resident of Pawhuska who vanished over the weekend.

  • BIA director hears complaints from Osage County oil producers

    BY MICHAEL OVERALL, Tulsa World | Published: Wed, Sep 9, 2015

    PAWHUSKA — For nearly two hours Wednesday, the head of the U.S. Bureau of Indian Affairs stood behind a podium and listened to a conference room full of Osage County oil producers complain that his agency is squeezing them out of business. With several aides and attorneys seated nearby to help him answer questions, Michael Black was anticipating a tough crowd, with his agency involved in a tangled web of overlapping lawsuits in the county. In one case, property owners are suing the BIA for using allegedly outdated environmental standards from 1979 to issue drilling permits. But the proposed updated regulations sparked a federal lawsuit from the Osage Producers Association, alleging the new rules are so costly and cumbersome that they will effectively make oil production impractical.

  • Sarah Palin wants to be energy secretary if Trump wins

    Published: Sun, Sep 6, 2015

    Sarah Palin might reach the White House yet -- albeit for a short stay. The 2008 Republican vice presidential candidate on Sunday gamely answered the question about how she might serve in a Donald Trump administration by saying she wants to be the Energy secretary. “I think a lot about the Department of Energy, because energy is my baby,” Palin, a former governor of Alaska, told CNN’s “State of the Union.” “Oil and gas and minerals, those (are) things that God has dumped on this part of the Earth for mankind's use, instead of us relying on unfriendly foreign nations, for us to import their resources.”