• $18.7B deal clears path for BP to close books on Gulf spill

    Updated: Thu, Jul 2, 2015

    NEW ORLEANS (AP) — Trying to close the books on the worst offshore oil spill in U.S. history, BP agreed Thursday to provide billions of dollars in new money to five Gulf Coast states in a deal the company said would bring its full obligations to an estimated $53.8 billion. Federal and state government officials touted the record-breaking $18.7 billion agreement as a historic milestone in the Gulf Coast's recovery. The Deepwater Horizon disaster killed 11 rig workers and spewed millions of gallons of crude that stained beaches, coated wildlife and polluted marshes. BP also gets a valuable return: Much of the payments, to be made over the next 18 years, could be tax-deductible.

  • Group commits more than $300M to form new midstream company

    BY ROD WALTON, Tulsa World | Published: Thu, Jul 2, 2015

    Two veterans of Hiland Partners are reunited to form a new Tulsa-based oil and gas pipeline, storage and processing firm.  Joseph Griffin and Derek Gipson are founding Intensity Midstream LLC. The plan is to build or acquire and develop energy transportation, terminal and treatment assets connected to North America basins. The new company is stepping in the midst of an industry-wide downturn, with oil prices falling 50 percent over the past year. Griffin said Intensity was launched with the knowledge that some companies may be willing to sell assets in the near future.

  • Gasoline prices in Arizona at $2.72 per gallon

    Updated: Thu, Jul 2, 2015

    PHOENIX (AP) — Gasoline prices around Arizona are slightly lower at the pumps again this week. Officials with Triple-A Arizona said Thursday the average statewide price for unleaded regular gasoline is $2.72 a gallon. That's down by less than a penny from last week, but marks the sixth consecutive week of falling prices. This week's national average also is $2.76 per gallon, down by more than a cent from last week. Triple-A analysts say prices heading into the July 4th holiday weekend are the lowest in five years. Tucson has Arizona's lowest average gasoline price at $2.43 a gallon and Flagstaff the highest at $2.99 per gallon. South Carolina has the lowest average gas prices among states in the continenta

  • Wind power developer, GMP propose deal to regulators

    Updated: Thu, Jul 2, 2015

    MONTPELIER, Vt. (AP) — The developer of the Deerfield Wind Farm in southern Vermont is joining the state's largest power company in asking regulators to approve a 25-year power purchase contract. Officials with Iberdrola ("ee-bur-DROL-ah") Renewables and Green Mountain Power say GMP plans to buy 30 megawatts of power from the wind farm. That's enough to power about 14,000 average Vermont households. Iberdrola spokesman Paul Copleman says the project has other state and federal permits in hand but now needs the Public Service Board to approve the power purchase contract before beginning construction. The company is planning to build 15 wind turbines as part of the project, eight in Searsburg and seven in neighboring Re

  • Correction: Dominion-Coal Ash story

    Updated: Thu, Jul 2, 2015

    RICHMOND, Va. (AP) — In a story June 27 about coal ash impoundments at the Possum Point Power Station, The Associated Press reported erroneously that U.S. rules governing coal ash disposal were in response to the Duke Energy coal ash spill in North Carolina in February 2014. While the Environmental Protection Agency announced the rules in December 2014, they were years in development. A corrected version of the story is below: Critics: Dominion Virginia jumping gun on coal ash cleanup Environmental groups fearful Virginia utility coal ash plan will leave permanent pollutant By STEVE SZKOTAK Associated Press RICHMOND, Va.

  • Foundations for first US offshore wind farm head for RI

    Updated: Thu, Jul 2, 2015

    PROVIDENCE, R.I. (AP) — Five massive structures that will be attached to the ocean floor for the nation's first offshore wind farm are coming to Rhode Island. Deepwater Wind is building a five-turbine wind farm off Block Island, with the ability to power 17,000 homes as early as next year. The steel foundations were built in Houma, Louisiana. They're being shipped north on three barges, with each structure in two large pieces. The first barge is expected to leave Friday and arrive at the site by mid-July, depending on weather, said Deepwater Wind CEO Jeffrey Grybowski. The foundations will be installed by mid-September, he added.

  • PNM files ownership plan, coal supply deal with regulators

    Updated: Thu, Jul 2, 2015

    ALBUQUERQUE, N.M. (AP) — New Mexico's largest electric provider says it's on track to meeting a deadline for submitting to regulators key documents related to the future of the coal-fired San Juan Generating Station. Public Service Co. of New Mexico says it filed an agreement detailing the future ownership makeup of the plant, a coal supply contract and a purchase and sale agreement for San Juan Mine between BHP Billiton and Westmoreland Coal Co. Some of the power plant's owners still are reviewing the restructuring agreement, but PNM expects to have those signatures by Aug. 1.

  • US stocks open higher following mostly positive job report

    Updated: Thu, Jul 2, 2015

    NEW YORK (AP) — U.S. stocks are opening slightly higher as investors look over a mostly positive report on the job market. Bond prices rose early Thursday as investors saw some pockets of weakness in the report. While payrolls grew overall, wage growth stalled and many people gave up looking for work. U.S.-listed shares of BP rose 4 percent after the company reached an $18.7 billion settlement with several states to resolve litigation over the 2010 Gulf of Mexico oil spill. The Dow Jones industrial average rose 50 points, or 0.3 percent, to 17,806. The Standard & Poor's 500 index gained four points, or 0.2 percent, to 2,081. The Nasdaq composite climbed five points, or 0.1 percent, to 5,018. The yield on t

  • Germany phasing out some worst-polluting coal plants by 2020

    Updated: Thu, Jul 2, 2015

    BERLIN (AP) — The German government is scrapping plans for a levy on the most-polluting coal-fired power stations and will instead phase some of the plants out. The Economy Ministry said Thursday that 13 percent of Germany's total lignite-burning power plant capacity will be put into a reserve role and then phased out entirely after four years. It dropped previous proposals for a levy on such plants, which ran into opposition from operators, unions and local officials. Operators now will be offered financial incentives to put plants into reserve, news agency dpa reported. Reducing lignite emissions is part of Germany's effort to reach its goal of cutting carbon dioxide emissions by 40 percent over 1990 levels by 2020.

  • Chesapeake subsidiaries sell assets for $840M

    By Adam Wilmoth Business Editor awilmoth@tulsaworld.com | Published: Thu, Jul 2, 2015

    An $840 million sale of western Oklahoma oil and gas assets by two Chesapeake subsidiaries to Denver-based FourPoint Energy LLC is expected to more than double the Colorado company's leasehold in the area.

  • OIL AND GAS PRICES FOR JULY 2

    Published: Thu, Jul 2, 2015

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Wednesday: Oklahoma Sweet: Sunoco Inc. — $53.50 Oklahoma Sour: Sunoco Inc. — $41.50 Oklahoma oil and gas drilling activity posted June 17: COMPLETION No postings. INTENT TO DRILL Canadian: Cimarex Energy Co.; Carter No. 2-24H Well; S1/2 SE1/4 SE1/4 SE1/4 of 24-13N-08W; TD 15,085. Grady: Marathon Oil Co.; Tyemax No. 1-35RXH Well; N1/2 NE1/4 NE1/4 NE1/4 (BHL) of 26-05N-06W; TD 22,475. Vitruvian II Woodford LLC; Murphree No. 1-19H Well; NW1/4 NW1/4 NW1/4 NE1/4 (BHL) of 19-03N-05W; TD 20,600. Lincoln: American Energy - Woodford LLC; Walker 31-17N-04E No. 1MH Well; SE1/4 SE1/4 SE1/4 SE1/4 of 31-17N-04E;

  • Pruitt sues again over EPA's plan

    By Paul Monies Business Writer pmonies@oklahoman.com | Updated: Wed, Jul 1, 2015

    Oklahoma Attorney General Scott Pruitt is suing the Environmental Protection Agency for a second time over the yet-to-be finalized Clean Power Plan to reduce carbon dioxide emissions from power plants.

  • Asian stocks gain as US data eclipses Greek risk

    Updated: Wed, Jul 1, 2015

    SEOUL, South Korea (AP) — Asian stocks were higher on Thursday as strong U.S. payroll data overshadowed worries about Greek debt. KEEPING SCORE: Japan's Nikkei 225 rose 1.2 percent to 20,564.59 while South Korea's Kospi added 0.4 percent to 2,106.20. Hong Kong's Hang Seng gained 0.6 percent to 26,396.56 and Australia's S&P/ASX 200 advanced 1.1 percent to 5,576.70. Stocks in Southeast Asia and New Zealand were also higher. US DATA WATCH: Payroll processor ADP said businesses added 237,000 jobs last month, up from 203,000 in May and the most since December. A separate survey showed U.S. manufacturing growth improved in June. The Institute for Supply Management, a trade group of purchasing managers, said its manufacturing inde

  • Michigan Senate approves $1.5B road plan with gas tax hike

    Updated: Wed, Jul 1, 2015

    LANSING, Mich. (AP) — The Republican-led Senate on Wednesday approved a $1.5 billion plan to improve deteriorating Michigan roads by raising fuel taxes and redirecting money from elsewhere in the budget. Lt. Gov. Brian Calley broke a 19-19 tie on a key bill that would bring the 15-cents-a-gallon state diesel tax in line with the 19-cent gasoline tax, boost both to 34 cents by 2017 and provide for future increases pegged to inflation. The plan, which includes annual income tax cuts starting in 2018 if general revenues rise by more than inflation, was the subject of seven hours of private talks before voting occurred. "Our people just want our roads fixed. This advances that debate and that discussion," said Calley, a R

  • California regulators prepared to overhaul electricity rates

    Updated: Wed, Jul 1, 2015

    SAN FRANCISCO (AP) — California regulators are considering a new way for residents to pay for electricity, imposing a charge on the greatest energy users while narrowing price gaps for everyone else. The California Public Utilities Commission is scheduled to vote on a compromise proposal Friday, marking the first changes in residential rates since energy brownouts roiled the state 15 years ago. The Legislature in 2001 expanded rate-paying tiers from two to four, and froze the lowest levels to protect households from huge swings in energy costs. The state's three major investor-owned utilities say the steeply tiered structure means higher-use customers have been unfairly subsidizing low-energy users for years.

  • Oklahoma attorney general challenges EPA's clean-air plan

    Updated: Wed, Jul 1, 2015

    OKLAHOMA CITY (AP) — A plan by the U.S. Environmental Protection Agency to reduce emissions from coal-fired power plants would threaten the reliability and affordability of electricity and cause substantial economic injury to the state, Attorney General Scott Pruitt claims in a federal lawsuit filed Wednesday. The lawsuit in federal court in Tulsa argues the EPA's Clean Power Plan exceeds its authority and seeks an injunction that would prohibit the federal agency from regulating coal-fired electricity plants in Oklahoma. "The EPA is ignoring the authority granted by Congress to states to regulate power plant emissions at their source," Pruitt said in a statement.

  • Man charged with dangerous illegal gas tap in Connecticut

    Updated: Wed, Jul 1, 2015

    SHELTON, Conn. (AP) — Police have arrested a New York man they say set up a dangerous illegal natural gas tap at a Connecticut nail salon he formerly owned. Shelton police Detective Richard Bango said 38-year-old Tsen Bin Si of Queens was arrested Tuesday on charges including reckless endangerment, criminal damage of a landlord's property, risk of injury to a minor and state fire code violations. Authorities say he endangered nearby businesses, including a day care and children's art school. It's not known if he has a lawyer. Investigators said they found the illegal tap while investigating natural gas odors at the salon. Police said Si bought supplies for the illegal tap, and set it up in the building's main gas line in th

  • Hospital: 7 injured from incident at petroleum center

    Updated: Wed, Jul 1, 2015

    WEST POINT, Neb. (AP) — A hospital confirmed that seven people were injured on Wednesday, two of them critically, from an incident at a petroleum distribution center in northeast Nebraska that one witness said produced large flames and black smoke. St. Francis Memorial Hospital in West Point said in a statement that seven people were taken to the facility following an incident at Sapp Bros. Petroleum in the town about 70 miles northwest of Omaha. Two of the people were in critical condition and later taken to a hospital in Omaha, according to the statement. Five others had minor injuries and were treated either in the emergency room or a nearby medical clinic.

  • Walker reduces amount available for oil tax credits

    Updated: Wed, Jul 1, 2015

    JUNEAU, Alaska (AP) — Gov. Bill Walker is limiting the amount available to pay for oil and gas tax credits this fiscal year, saying Wednesday that no sector of the state would be untouched by Alaska's current budget situation. The credits affected are for explorers or companies developing fields but not yet in production on the North Slope and in Cook Inlet. Walker said the tax credit system is unsustainable and that credits for these companies could soon top $1 billion, becoming one of the state's largest expenditures. Alaska needs to look for ways to provide incentives that don't drain its resources, he said. The state is running deficits, a situation exacerbated by low oil prices, and is using money from savings to

  • Missouri panel rejects plan for multistate wind power line

    Updated: Wed, Jul 1, 2015

    JEFFERSON CITY, Mo. (AP) — Missouri utility regulators on Wednesday denied a company's request to construct a high-voltage power line in Missouri that was planned for a multistate wind energy project. Three of the five members of the state Public Service Commission voted to reject plans for the Grain Belt Express, saying Clean Line Energy Partners failed to prove a need for the project. In a report denying the company's request Wednesday, commissioners also questioned whether the project was economically feasible and whether it would have promoted public interests. Houston-based Clean Line touted the $2.




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