News

Posted on March 18, 2013

Williams Co announced today that it has sanctioned construction of a propane dehydrogenation (PDH) facility in Alberta, Canada.  The new PDH facility is the first and only in Canada.

Williams PDH facility in Canada will initially produce up to 1.1 billion pounds annually of polymer-grade propylene.  They potentially can double capacity with future expansion.

"We're thrilled to moving full-speed ahead on Canada's first and only PDH facility.  The project fits strategically within Williams' operations in Alberta, leverages our expertise in propylene and adds further value to a byproduct of oil sand upgraders," said David Chappell, president of Williams Energy Canada.

The new facility is expected to be in service by 2016's second quarter.

Click here to read the full press release.

Posted on March 13, 2013


A $10,000 elevator pitch competition was conducted at the 512 Bar in Austin as part of the Oklahoma Buffalo Lounge which is a series of Oklahoma interactive, film, and music events held at the South by Southwest festival.  Entrepreneurs pitched their businesses in front of Buffalo Lounge patrons and Oklahoma angel investors.

SpectrumFX, a Tulsa-based airline fire retardant company won the $5,000 first prize.  ICEdot, an emergency ID and notification service for athletes and outdoor enthusiasts, and ReTenant, LLC, a company that builds mobile aps for apratment complexes, won  $2,500 each as runners up. Nine Oklahoma companies participated in the Buffalo Lounge competition.

The Tulsa Business Journal reports:

Finalists for the Buffalo Lounge Elevator Pitch Competition were selected in February from among videotaped submissions by a panel of investment professionals at i2E, Inc., a co-sponsor of the event along with the Greater Oklahoma City Chamber as part of the Office of Entrepreneurial Development.

Faith said the competition experience will be helpful on his next big trip — the Paris Air Show in June.

The Buffalo Lounge is a collaborative effort to spotlight Oklahoma companies and innovators at the South By Southwest Conference, which last year attracted more than 50,000 visitors in the areas of film, music and interactive. Several successful companies such as Twitter, Foursquare, Phonebooth and Highlight were either introduced or spotlighted at SXSW.

The Buffalo Lounge began in 2010 when the Oklahoma Film & Music Office, the Idea Collective and the Greater Oklahoma City Chamber led an effort to create a collaborative initiative to increase Oklahoma’s presence at the SXSW festival.

Click here for the story at Tulsa World.

 

Posted on March 12, 2013

The US Energy Infomration Agency released the March update to their Short-Term Energy Outlook.

Highlights include:

EIA projects that the projected discount of West Texas Intermediate (WTI) Crude will average $16 per barrel in 2013 and drop to $9 per barrel in 2014 as planned pipeline projects come online and relieve the WTI bottleneck and reduce the price to move crude oil to the Gulf Coast refineries.

US crude oil production averaged more than 7 million barrels per day in November and December 2012. EIA estimates that 2012 production averaged 6.5 million barrels per day, and they project US production to be 7.3 million barrels per day in 2013 and 7.9 million barrels per day in 2014.

OPEC member countries dramatically cut production in the fourth quarter of 2012. EIA projects that OPEC crude oil supplies will decrease by 0.4 million barrel per day in 2013.

EIA projects that wind capactiy will increase by 6% in 2013 and by 14% in 2014. EIA pojects that electricy generation from wind will increase by 16% in 2013 due to the wind capacity that came on line at the end of 2012.

Posted on March 11, 2013

Evans Enterprises announced plans to expand its Tulsa electroci motor testing, repair, and supply company.  The company plans to invest $3.2 million on infrastructure and equipment $1.8 million on constuction of a 58,000 square-foot building.

The Tulsa World reports:

"The new system will increase Evans' motor-testing capacity fourfold, the company said. The Phenix can test up to 18,750 horsepower at 15,000 volts, while the dynamometer is capable of load-testing a 3,600-horsepower motor.

The new building also will add crane capacity in excess of 75 tons.

"We work seven days a week to make up for the lack of space," Evans repair manager Robert Bell said. "The new improvements will allow us to grow, create faster turnaround time and serve a larger customer base."

Posted on March 07, 2013

The plains of northern Oklahoma and southern Kansas was a hotbed of traditional oil drilling activity.  ConocoPhillips drilled thousands of vertical wells in a formation called the Burbank field and realized production for over 50 years.  The porosity, permeability, and plentiful hydrocarbon deposits in the Mississippi Lime looked like a productive field.

Traditional vertical drilling reached its limit, and the wells ran dry.

New horizontal drilling technology combined with hydraulic fracturing has the potential of unlocking oil and natural gas liquids remaining in the natural fissures in the rock.  Two years in to this Mississippi Lime exploration, the Tulsa World reports that Devon Energy is not yet willing to call its work there a success.

"The Oklahoma City-based company holds 600,000 net acres in the producing trend of northern Oklahoma and southwest Kansas, where Devon is operating 15 rigs. Thanks to horizontal drilling and hydraulic fracturing, the Mississippi Lime is attracting significant attention from big players such as Devon, SandRidge Energy, Chesapeake Energy, Marathon Oil, Midstates Petroleum and Chinese oil giant Sinopec, which has taken big stakes through joint ventures with Devon and Chesapeake.

The jury, however, is still out on the ultimate impact of the Mississippi, which offers relatively low-cost and low-depth drilling but high water content mixed with the oil and gas.

For Devon, "It's an exploration play; it's not a development play," company spokesman Chip Minty said Wednesday."

Click here to read more.

Posted on February 07, 2013

Speaking at the Decision Makers Breakfast at Winter North American Prospect Expo in Houston, legendary oilman T. Boone Pickens assured young petroluem geologists that they'd picked the right career. 

From the Houston Business Journal report on his address:

"But as shale formations and oil sands have reshaped the energy landscape in recent years, that time is long gone. Rather, he said, he recently told a group of young grads that he would give it all up — the private airplane, the healthy bank account, the sprawling ranch, the list goes on — to switch places with an 18-year-old.

“It’d be a hell of a run,” he said, describing the opportunity, which he said is OK to contemplate because it could never be so.

Pickens’ optimism about the industry and its future was palpable in the Grand Ballroom of the downtown Hilton Hotel. He spoke of a long career — in which he made the most money during the last half — and the leadership he believes America needs to become energy independent."

Pickens said that he is often asked when he plans to retire and let someone else take over.  He said that that it isn't necessary for him to step aside so that some else can step up.  He said, "It's like a feeding trough that is infinite in length.  You don't have to get in line behind somebody else - just belly up and get going."

Posted on January 14, 2013

Posted on January 10, 2013

At Wednesday's OIPA sponsored luncheon in Tulsa, Mayor Dewey Bartlett announced that Tulsa is on the path to reclaim it's position as the Energy Capital of the World.  Citing data from a City of Tulsa commissioned report, the mayor said that Tulsa is currently fifth among North American energy centers behind Denver, Calgary, Oklahoma City, and Houston.  

Mayor Bartlett said, "our position is well solidified and going to climb.  It shows we are not one-dimensional."  

During his presentation, Mayor Bartlett presented an early draft of  the Second Century Energy: Tulsa Metro Energy Industrial Economic Employment Report which was researched and developed by the Meinders School of Business at OCU.  The report showed 56,000 direct energy industry jobs and a total Tulsa area Economic Impact of $40 billion.

Posted on January 08, 2013

January 4 was the Brady Art District's 2013 First Friday Art Crawl kick off.  Started in 2007, the First Friday Art Crawl has grown from a just a few participating shops and resturants
into the place to be on the first Friday of each month.

The Brady Arts District is located north across the Sante Fe Railroad tracks from the central business district and centered at Main Street & Brady Avenue. The Brady District is one of Tulsa's oldest areas, characterized by two-story brick warehouse.  The district is home to the Brady Theater, Cain's Ballroom, and the recently opened Hardesty Art Center.  The district also houses restaurants, clubs, museums, and businesses and is a prime example of urban living. One particular highlight of the Brady Arts District is the Tulsa Glassblowing Studio.

Located at 19 E. Brady, The Tulsa Glassblowing Studio is one of only a few in the state.  The Tulsa Glassblowing Studio is a nonprofit working glass studio and gallery displaying blown glass vessels of all shapes, styles, colors and sizes. All original glass works for sale were created by Resident artists, glass blowing students, and visiting glass masters.

Posted on December 11, 2012

In Sunday night's concert.

 
 
 

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