• Shareholder tells Oklahoma-based SemGroup to sell

    By Jay F. Marks, Business Writer | Published: Tue, Jan 27, 2015

    An asset management company that owns stock in Tulsa-based SemGroup Corp. wants the company to consider putting itself up for sale.

  • Technology briefs for Jan. 27

    Published: Tue, Jan 27, 2015

    Technology briefs for Jan. 27, 2015

  • Oil and gas, livestock prices for Jan. 27

    Published: Tue, Jan 27, 2015

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Monday: Oklahoma Sweet: Sunoco Inc. — $41.50 Oklahoma Sour: Sunoco Inc. — $29.50 Oklahoma oil and gas drilling activity posted Jan 12: COMPLETION Alfalfa: Sandridge Exploration & Production LLC; Ann 2610 No. 3-29H Well; SW1/4 SW1/4 SE1/4 SW1/4 (SL) of 20-26N-10W; 253 barrels oil per day, 1,351,000 cu-ft gas per day; TD 10,869. Garfield: Sandridge Exploration & Production LLC; Ava Rose 2305 No. 1-16H Well; SE1/4 SE1/4 SW1/4 SW1/4 (SL) of 16-23N-05W; 36 barrels oil per day, 2,141,000 cu-ft gas per day; TD 10,745. Garvin: Ranken Energy Corp.; Anna Belle No.

  • Asia stocks mostly higher as initial Greek jitters ease

    Updated: 5 hr ago

    TOKYO (AP) — Asian stocks were mostly higher Tuesday as markets calmed from initial jitters over Greece's election result, with Tokyo shares making a significant rebound, cheered by the cheap yen. KEEPING SCORE: Japan's Nikkei 225 stock average jumped 1.3 percent to 17,696.95 and South Korea's Kospi added 0.4 percent to 1,944.08. Australia's S&P/ASX 200 rose 0.5 percent to 5,528.20. Hong Kong's Hang Seng lost 0.5 percent to 24,784.95. Southeast Asian markets were also mostly higher. GREECE FACTOR: Asian markets were the first to weigh the meaning of Sunday's election victory by Greece's Syriza party, which has vowed to end painful austerity policies that are a condition of the country's EU-IMF-ECB bailout. But European and

  • Ban on local drilling bans subject of several Oklahoma bills

    By Paul Monies, Business Writer | Updated: 6 hr ago

    At least eight bills have been filed at the Oklahoma Legislature that would stop cities from enacting bans on drilling or related oil and gas development. The Oklahoma Municipal League is monitoring the bills, but said they prefer to leave the decisions on development to local authorities.

  • Revenue officials explain tax credit issue flagged by Walker

    Updated: 6 hr ago

    JUNEAU, Alaska (AP) — State Revenue department officials told lawmakers Monday that the tax credits that were a source of contention in an opinion piece by Gov. Bill Walker are being paid primarily to small explorers or those developing new oil and gas fields in Alaska. Walker earlier this month said the state stood to pay out about $100 million more in oil and gas production credits than it takes in in production taxes this year and about $400 million more next year. He referenced the 2013 rewrite of Alaska's oil tax law, saying the overhaul occurred with little consideration given to low prices. Giving away more in tax breaks than the state collects is irresponsible and unsustainable, Walker said.

  • Drilling plan may restrict sensitive Arctic Ocean areas

    Updated: 7 hr ago

    ANCHORAGE, Alaska (AP) — The federal Department of the Interior will make additional areas of Arctic Ocean waters off-limits to drilling when it announces a new five-year offshore drilling plan, a member of the Alaska congressional delegation said Monday. U.S. Sen. Lisa Murkowski, R-Alaska, said she was briefed last week by federal officials who told her the Obama administration will permanently remove from consideration some areas that had previously been deferred from the federal leasing program. Alaska's all-Republican congressional delegation has been harshly critical of the administration's policies to limit development of oil-rich land in the state.

  • Kansas geologists ask for more funding amid earthquake spike

    Updated: 8 hr ago

    TOPEKA, Kan. (AP) — The Kansas Geological Survey told lawmakers Monday that it needs more money to investigate and monitor an unprecedented spike in earthquakes in the state. Agency Director Rex Buchanan told the House Energy and Environment Committee that most of the earthquakes have not been felt on the surface and collectively have done minimal damage but they have been stronger and more frequent than in any other time in recorded Kansas history. The agency has recorded 206 earthquakes since Jan. 1, 2013, after detecting just five over the previous 10 years, according to its website. The strongest ever recorded earthquake in Kansas — a 4.9-magnitude quake near Milan in Sumner County — struck in November. Buchan

  • EPA: 4M gallons pumped from North Dakota saltwater spill

    Updated: 8 hr ago

    More than 4 million gallons of a mixture of fresh water, brine and oil have been pumped from the area affected by the largest saltwater spill of North Dakota's current energy boom, according to a report issued Monday by the Environmental Protection Agency. The report provides an overall assessment on the nearly 3 million-gallon spill of saltwater generated by oil drilling that leaked from a ruptured pipeline that operator Summit Midstream Partners LLC detected on Jan. 6. It remains unclear exactly when the spill occurred and what caused it. The spill happened in Marmon, about 15 miles north of Williston, and primarily contaminated the Blacktail Creek. Saltwater also reached the bigger Little Muddy River and the Missouri River

  • Senate Dems block GOP effort to wind down pipeline debate

    Updated: 9 hr ago

    WASHINGTON (AP) — Senate Democrats temporarily stalled progress Monday on a bill to approve the Keystone XL oil pipeline, the top priority of the Republican-controlled Congress. In a 53-39 vote, the Senate blocked an attempt by Republican leaders to wind down debate. That's short of the 60 votes needed. The vote caps a partisan dispute — which had the Senate working into the early hours last Friday — over the time granted to consider amendments on the bill. Majority Leader Mitch McConnell wants to move to pass the bipartisan legislation, which has 60 sponsors, including six Democrats. But Democrats argued they needed more time to offer and debate their additions.

  • BP calls witnesses as it fights for lesser spill penalty

    Updated: 9 hr ago

    NEW ORLEANS (AP) — BP struggled for 87 days to contain the millions of gallons of crude that spilled into the Gulf of Mexico in 2010, but an expert witness on Monday called its cleanup response exemplary. "They were very prepared," said Frank Paskewich, a retired Coast Guard captain and president of Clean Gulf Associates Inc., an oil spill response cooperative. BP had a sound plan for reacting to the deadly explosion of the Deepwater Horizon oil rig, "and they pulled the trigger on that plan," coming "out of the gate quick," he said. Paskewich also testified that 37 percent of the spilled oil was recovered or broken down by skimmers, dispersants and burning, compared to just 8 percent in the 1989 Exxon Valdez disaster

  • New $103M midyear deficit because of oil price plummet

    Updated: 10 hr ago

    BATON ROUGE, La. (AP) — Louisiana will have to close a more than $103 million deficit in the remaining five months of the budget year, as the steep drop in oil prices worsens the state's ongoing financial problems. Next year's budget shortfall also has deepened, now reaching $1.6 billion. The state's income forecasting panel, called the Revenue Estimating Conference, lessened revenue projections Monday for the fiscal year that ends June 30 and for the next budget year that begins July 1, to account for the continuing slide in per-barrel oil prices. As he presented his recommended drops in the forecast, the Legislature's chief economist Greg Albrecht summed it up: "The news is bad." Up first, the state must close

  • 5 things about Obama's move to protect refuge from drilling

    Updated: 10 hr ago

    WASHINGTON (AP) — President Barack Obama waded into a decades-long fight over drilling in the Arctic National Wildlife Refuge over the weekend, announcing that his administration would pursue a wilderness designation for 12.28 million acres, barring drilling in most of the South Carolina-sized refuge. Obama's plans will require congressional approval. But if the Alaska delegation is any hint as to where things are headed, his proposal is going nowhere in a Republican-controlled Congress. On Monday, Rep. Don Young, R-Alaska, said Obama had gone "completely wacko." Alaska Sen. Lisa Murkowski, chair of the Senate Energy committee, said the administration's plans were a "kick to the gut" that treated Alaska as if it were a "snow glob

  • Companies bid millions to drill under state lands in W.Va.

    Updated: 10 hr ago

    CHARLESTON, W.Va. (AP) — West Virginia officials have opened millions of dollars in bids to drill for oil and natural gas beneath state-owned lands, including waterways and a wildlife management area. In one of the biggest offers the state Department of Commerce opened Friday, Jay-Bee Production Company bid amounts ranging from $5,000 to about $16,300 to drill underneath 303 acres of Jug Wildlife Management Area in Tyler County, or about $4.5 million total. The leases for Marcellus and Utica shale mineral rights, which allow for hydraulic fracturing, commonly called fracking, are a new undertaking for the state. So far, only one lease agreement has been finalized — a $6.

  • Oil giant BP to freeze most employees' pay in 2015

    Updated: 10 hr ago

    HOUSTON (AP) — BP says it will freeze pay for most of its employees in 2015 as oil companies look for ways to cut costs amid falling oil prices. Prices have fallen by nearly half in just six months, with major benchmarks trading below $50 a barrel. The Houston Chronicle reports (http://bit.ly/1tha9dr) that the announcement was made Monday in an internal message. BP spokesman Brett Clanton said in a statement Monday that it was a "prudent response" to a challenging market environment. The newspaper reported that BP said in December it expected to take a $1 billion restructuring charge this year because of job cuts and pared back oil production. According to its last annual report, BP employs 83,900 workers,

  • Montana oil spill estimate lowered to 30,000 gallons

    Updated: 12 hr ago

    BILLINGS, Mont. (AP) — Authorities have lowered their estimate of how much oil spilled from a broken pipeline beneath the Yellowstone River in eastern Montana, briefly contaminating the water supply of a city downstream. U.S. Environmental Protection Agency spokeswoman Wendy Thomi said Monday that Bridger Pipeline Co. recovered about 20,000 gallons of crude from its pipeline. That's 10,000 gallons more than originally reported, meaning 30,000 gallons went into the river Jan. 17. Thomi says the Wyoming company has finished drawing oil from the line, but very little crude has been recovered from the river, where ice has slowed cleanup efforts.

  • Governor: Storm outages likely to be widespread, lengthy

    Updated: 13 hr ago

    FRAMINGHAM, Mass. (AP) — Gov. Charlie Baker is warning that hundreds of thousands of utility customers could lose electricity during the approaching storm and it could take several days for it all to be restored. Baker said he expected the outages to be most severe in Barnstable, Plymouth and Bristol counties. Utility companies including National Grid and NStar say they have prepositioned crews in areas that are expected to be the most heavily impacted. A 2009 state law authorized fines to be imposed on utilities for inadequate storm preparation and response. A subsequent law ordered that any fines paid by utilities go toward customer rate relief.

  • Deal requires firms to justify fracking trade-secret claim

    Updated: 13 hr ago

    CHEYENNE, Wyo. (AP) — A legal settlement will require petroleum companies to provide justification when they claim the ingredients in the chemical products they pump underground during hydraulic fracturing in Wyoming are trade secrets that must be shielded from public disclosure. Wyoming in 2010 became the first state to require companies to disclose to state regulators the ingredients they use during fracking, the process of pumping water mixed with sand and chemical products into oil and gas wells to crack open deposits and boost production. Environmentalists praised the rule.

  • American Energy hires former Chesapeake exec Jennifer Grigsby

    By Jay F. Marks, Business Writer | Published: Mon, Jan 26, 2015

    Former Chesapeake Energy Corp. executive Jennifer M. Grigsby has been hired as chief financial officer of American Energy-Woodford LLC and American Energy-Mineral Holdings LLC.

  • Solar energy supporters, utilities spar over legislation

    Updated: 13 hr ago

    INDIANAPOLIS (AP) — Solar energy supporters are pushing back against a bill backed by Indiana's utilities that would change how much credit owners of small-scale solar installations get for the power they generate. The bill authored by state Rep. Eric Koch, R-Bedford, would amend Indiana code for so-called "net metering," under which electric customers are charged only for the net amount of power they use and get credit on future bills for excess power they generate and send back into the electric grid. The measure has been referred to the House utilities, energy and telecommunications committee. Koch, who chairs that panel, said his bill's purpose "is to promote and grow net metering.




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