Plugging In

Horizon Wind Energy on Thursday dedicated a new 99 megawatt wind farm in southwest Oklahoma. The Blue Canyon V Wind Farm is on about 7,000 acres near Apache in Caddo County and Elgin in Comanche County. It is expected to provide enough electricity each year to power about 30,000 homes. Public Service Co. of Oklahoma has agreed to purchase electricity generated by the new wind farm for 20 years, according to Horizon officials. Oklahoma now has 865 megawatts of wind-generating capacity, Horizon said. Horizon has plans to add 1,200 megawatts of capacity in the state.

Chesapeake Energy Corp. has established a Web site to offer insight into how it does its business. The site, hydraulicfracturing.com, details how Chesapeake and other oil and gas companies recover natural gas from deep shale formations. The site was launched last week, when Chesapeake created a Twitter account, @FracFacts, to share information about the practice.

SandRidge Energy Inc. on Thursday reported losses of $104.1 million, or 58 cents a share, for the third quarter. The company’s net income was $230.3 million, or $1.40 a share, for the same quarter of 2008. Officials blamed the quarter’s losses on depressed crude oil and natural gas prices. SandRidge’s oil and gas revenue decreased nearly 60 percent for the third quarter compared to the same period last year, the Oklahoma City-based company reported.

TULSA — Arena Resources Inc. announced Thursday that its third-quarter profit fell 55 percent. The Tulsa company’s net income was $12.11 million, or 31 cents per fully diluted share, compared with $26.92 million, or 69 cents per fully diluted share, for the same period in 2008. Arena had oil and gas revenues of $36.06 million, a 47 percent decrease from $68.41 million last year’s quarter. The revenue decrease was due to significant declines in commodity prices and a drop in oil production volumes.

From staff reports

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