• Midstates Petroleum opts to delay release of fourth quarter and full 2014 results

    BY ROD WALTON, Tulsa World | Published: Tue, Mar 3, 2015

    Midstates Petroleum Co., the oil and gas producer that moved its headquarters from Houston to Tulsa late last year, has delayed the earnings report that was due out Tuesday. The company also will put off its conference call which was scheduled for Wednesday. Midstates delayed those releases “to allow for more time to finalize its year-end financial results,” according to a statement on its website. “A press release will be forthcoming about its rescheduled earnings date.” The downturn in crude oil prices has hit Midstates Petroleum particularly hard in what was already a difficult time for the producer. Midstates’ stock value has dropped down nearly to $1 per share as of Tuesday, compared with a year-long high of $7.16 in June. Read the rest of this story at TulsaWorld.com .

  • John Stancavage: What's driving the price of gasoline?

    BY JOHN STANCAVAGE, Tulsa World | Published: Tue, Mar 3, 2015

    The retail gasoline market is entering its annual crazy period where prices spike no matter what crude prices and drivers are doing. A recent 10-cent rise in pump prices in Tulsa reinforced the suspicion that such times are here again, and we're just going to have to ride them out, so to speak, until the summer driving season arrives. Gasoline here jumped to $2.25 at many retailers to start the week, while crude remained below $50 a barrel and oil supplies were at a high level. Read the rest of this story at TulsaWorld.com .

  • WPX Energy cutting its workforce by 83 positions systemwide, including 44 in Tulsa

    BY LAURIE WINSLOW, Tulsa World | Published: Mon, Mar 2, 2015

    WPX Energy is cutting its companywide workforce by 83 employees, including 44 in Tulsa. The latest moves for the energy company, however, actually could result in an overall net gain for Tulsa, officials said. The cuts affect approximately 8 percent of its staff. The company also is consolidating most of its regional office employees in Denver with personnel at the company’s Tulsa headquarters, WPX reported Monday. Read the rest of this story at TulsaWorld.com .

  • While Inhofe throws snowball, little town in Oklahoma plays big role in climate debate

    BY MICHAEL OVERALL, Tulsa World | Published: Thu, Feb 26, 2015

    Nearly two hours west of Bartlesville, on a prairie flat enough to see the town's water tower from half a county away, Lamont has a dwindling population of just 417 people. Less than half a mile wide, four Lamonts would fit inside of downtown Tulsa, with plenty of room left over. But Thursday, while a U.S. senator from Oklahoma was literally throwing a snowball in the fight over alleged global warming, little Lamont was playing a big role in the research. It happens to be the home of the Southern Great Plains field-observation facility for the U.S. Department of Energy's Atmospheric Radiation Measurement Program. Which probably sounds more impressive than it looks — 30 or so instrument clusters scattered across 160 acres of cow pasture and wheat fields southeast of town. Read the rest of this story at TulsaWorld.com .

  • ONE Gas surpasses $100 million in profit in first year after ONEOK separation

    BY ROBERT EVATT, Tulsa World | Published: Wed, Feb 18, 2015

    The first full year ONE Gas Inc. had as an independent company was a good one, as the yearly income increased significantly over the previous year’s operations. The ONEOK spinoff made $109.8 million in profit, or $2.07 cents per share, on revenue of $1.82 billion, the company reported Wednesday. That compares to income of $99.2 million, or $1.90 cents per share, on revenue of $1.69 billion in 2013. The yearly total was helped along by a strong fourth quarter, which saw earnings of $36.6 million, or 69 cents per share, on revenue of $514.4 million. The fourth quarter of 2013 had $30.3 million in profit, or 58 cents per share, on revenue of $522.7 million. Read the rest of this story at TulsaWorld.com .

  • WPX Energy cuts capital spending plan by half to $725 million midpoint

    BY ROD WALTON, Tulsa World | Published: Fri, Feb 13, 2015

    WPX Energy Inc. is cutting its expected capital spending budget this year by 50 percent, focusing nearly all of that on its core areas of the San Juan, Piceance and Willison basins, the Tulsa-based oil and gas producer revealed this week. All three of those plays are part of WPX's long-term strategy. WPX has sold off other assets, including the Apco interests in South America and in the Marcellus Shale of the eastern U.S. This year's capital spending range has a midpoint of $725 million, compared with $1.5 billion in 2014. Many oil and gas companies have cut expenditures or laid off employees in response to the seven-month decline in crude oil prices. Read the rest of this story at TulsaWorld.com .

  • Tulsa-based Williams Partners has restarted Geismar plant damaged in 2013 explosion

    BY ROD WALTON, Tulsa World | Published: Tue, Feb 10, 2015

    A Geismar, Louisiana chemical plant which was nearly destroyed in a deadly June 2013 explosion and fire is rebuilt and producing ethylene for sale, Tulsa-based Williams Partners announced Tuesday. The new production comes after several delays while Williams worked at rebuilding and expanding the Geismar plant. Ethylene is used in petrochemical production for things like plastic and paint. Read the rest of this story at TulsaWorld.com .

  • Quake Debate: Scientists warn of potential for 'large earthquake' as injection well discussion continues

    BY ZIVA BRANSTETTER, Tulsa World | Published: Mon, Feb 9, 2015

    The warning may have seemed a little dramatic at the time, but OSU geology professor Todd Halihan wanted to get lawmakers’ attention about the risk of a damaging earthquake. “We knew the dust bowl would happen scientifically, but as scientists we did not communicate it effectively to the people of the state; I don’t want to do it again with a large earthquake,” states a slide in Halihan's presentation to an interim study committee last October. “If a damaging earthquake occurs, do the right people foot the bill or do the taxpayers or the companies who are taking the proper precautions foot the bill?” Read the rest of this story at TulsaWorld.com .

  • Oilfield equipment maker Team Oil Tools closing Tulsa plant, laying off 95

    BY ROD WALTON, Tulsa World | Published: Fri, Feb 6, 2015

    The modern day oil bust has claimed another employer in Tulsa. Team Oil Tools has informed the Oklahoma Department of Commerce that it will permanently close its manufacturing facility and lay off 95 workers. The facility is at 10557 East Ute St., just east of downtown Tulsa. The WARN notice that Team Oil Tools sent to the Commerce Department indicated that the closing will happen April 3. Read the rest of this story at TulsaWorld.com .

  • Not in My Back Acreage: Defenders of Tradition in Keystone Pipeline Fight

    Published: Fri, Jan 23, 2015

    BRADSHAW, Neb. — An unpainted wooden barn sits in a snow-dusted cornfield along a gravel road, one of many that dot the rural horizon here, says the New York Times, however, this barn contains no horses, tractors or farming tools. Its roof is covered with solar panels, there is a windmill out front, and the interior is plastered with signs with slogans like “Build Our Energy” and “ #NOKXL ,” in protest of the proposed Keystone XL pipeline, which could run under the property if President Obama approves the project. The 1,179-mile pipeline, first proposed in 2008, would carry oil from Canada into the United States, connecting with existing pipelines in southern Nebraska. In Congress, the Senate continues to debate a bill to approve the pipeline, and the House has already passed a bill to approve its construction. Four Harrington sisters — Abbi, Terri, Jenni and Heidi — grew up in the 1960s and ’70s tending livestock and crops here, and three of them have remained in Nebraska and continue to farm the land. They fear that construction of the pipeline could threaten their livelihood and a family farming tradition that dates back about 150 years, to when their great-great-grandfather settled on the plot.

  • Former oil exec: $5-a-gallon gas on the way

    Published: Tue, Jan 20, 2015

    John Hofmeister attracted national attention in 2010 when he predicted that average U.S. gasoline prices would soar to $5 a gallon in 2012, thanks to rising crude oil prices. His forecast fell short, as the cost of filling up flirted with $4 in 2012, but never went higher, USA TODAY reports. Now, with national gasoline prices currently averaging $2.05 a gallon, their lowest level since early 2009, the former president of Shell Oil 06is issuing another warning, telling motorists that their joy ride may end sooner than they think. "The next round of high prices is likely to start later this year, as crude rebounds to the $80s and $90s, perhaps pushing to the $100 level by late in the year or early next," Hofmeister told me the other day after a trip to Calgary, where he was promoting natural gas as a transportation fuel.

  • Saudi prince: $100-a-barrel oil 'never' again

    Published: Mon, Jan 12, 2015

    Saudi billionaire businessman Prince Alwaleed bin Talal told Maria Bartiromo for USA Today that we will not see $100-a-barrel oil again. The plunge in oil prices has been one of the biggest stories of the year. And while cheap gasoline is good for consumers, the negative impact of a 50% decline in oil has been wide and deep, especially for major oil producers such as Saudi Arabia and Russia. Even oil-producing Texas has felt a hit. The astute investor and prince of the Saudi royal family spoke to Bartiromo exclusively last week as prices spiraled below $50 a barrel. He also predicted the move would dampen what has been one of the big U.S. growth stories: the shale revolution.

  • Robert Redford: Here's Why Keystone XL Is the Wrong Choice for Our Nation

    Published: Fri, Jan 9, 2015

    The new Republican majority in Congress wants to force approval of the Keystone XL pipeline for dirty tar sands oil, says Robert Redford in the Huffington Post. President Obama announced he will veto bills that bypass the official review of Keystone XL. There are plenty of reasons to block these bills and this pipeline.