Business Intelligence Report

Fridays at 6:44 a.m., 8:44 a.m., 12:35 p.m., and 5:44 p.m.

A weekly feature produced in partnership with the Journal Record, Oklahoma's weekday newspaper and website specializing in business, legislative and legal news. Managing Editor Adam Brooks and Journal Record reporters discuss business and economic development in the state.

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SandRidge Energy sign
Brian Hardzinski / KGOU

Monday morning Oklahoma City-based SandRidge Energy formally filed for bankruptcy.

The move wasn’t unexpected among energy observers, but one of the interesting things about this particular filing is that SandRidge has almost twice as many assets as it does debt.

The Zoo Amphitheatre at 2101 NE 50th St. in Oklahoma City.
Brent Fuchs / The Journal Record

Two months ago Oklahoma City opened The Criterion, a new 3,500-seat theater in Bricktown. The venue has has already seen concerts by My Morning Jacket, Grace Potter, and most recently, Sturgill Simpson this past Wednesday evening. Later this year the Tower Theatre will open in Uptown, and there’s going to be an outdoor patio for concerts west of downtown.

But these are all indoor venues. Oklahoma City only has two large outdoor amphitheaters – The Zoo Amp, and Frontier City – both in the northeast part of the city.

An artist’s conception of the new convention center in downtown Oklahoma City.
Populous and GSB Inc.

During Tuesday’s Oklahoma City Council meeting, Ward 5’s David Greenwell said it’s hard to get excited about things like the proposed MAPS 3 convention center until you see some of the architectural renderings.

Those were presented this week, and one of the issues with this new convention center seems to be parking.

Ward 2 councilman Ed Shadid, who’s pretty vocal about his concerns when it comes to using public money for large-scale projects, raised the point during the architects’ presentation.

Dr. Billy D. Schumpert, left, checks on Debbie Brewer at Eastern Oklahoma Medical Center in Poteau on Tuesday while Kody Smith, infection preventionist and registered nurse, looks on.
Amanda Corbin / Poteau Daily News

Proposed cuts to Oklahoma’s Medicaid reimbursement rate that could be as high as 25 percent are threatening the services offered by rural hospitals across the state.

Jaynie Studenmund addresses the audience during the Oklahoma City University Meinders School of Business Women in Leadership conference Wednesday at the Cox Business Services Convention Center in Oklahoma City.
Brent Fuchs / The Journal Record

The nation’s workforce is getting older, and more diverse, with more women and minorities ascending to top spots some of the nation’s largest companies.

The neon sign still stands outside the Sunshine Cleaners building at 1012 NW First St. in Oklahoma City.
Brent Fuchs / The Journal Record

The revitalization of downtown Oklahoma City continues to move west, and developers are always looking for ways to offset or subsidize the costs of their projects.

Tulsa resident Ashley Hacker exits a polling place after casting his vote on a sales tax extension proposal Tuesday.
Rip Stell / The Journal Record

Voters across Oklahoma went to the polls on Tuesday for mostly local elections, including a series of sales tax initiatives in both northeast and central Oklahoma.

In the city of Tulsa, voters approved three separate tax propositions totaling 0.55 percent. They deal with public safety, infrastructure, and capital projects as part of the Vision 2025 program first approved in 2003.

“The tax rate will not go up in Tulsa,” said The Journal Record’s managing editor Adam Brooks. “It’s just extending what they already have and will stay at 8.517 percent.”

SandRidge Energy
Brian Hardzinski / KGOU

One of Oklahoma City’s major energy producers unveiled its latest earnings reports earlier this week.

It wasn’t good news – it really hasn’t been for any of the state’s energy giants as they continue to feel the effects of this nearly two-year downturn in commodity prices . On Tuesday, SandRidge Energy announced it lost $74 million in the fourth quarter of 2015 – down 58 percent year-over-year and missing Wall Street expectations.

New Source Energy Partners is headquartered at 914 N. Broadway Ave. in Oklahoma City.
Brent Fuchs / The Journal Record

It’s been more than 18 months since the start of the energy downturn that saw the price of oil dip to about $30 dollars a barrel.

It’s slowly starting to rebound, and it’s led to bankruptcies, a few success stories, and even some variables that have nothing to do with market forces.

Last week New Source Energy Partners filed for Chapter 7 bankruptcy. The small company based in an office along Broadway in Oklahoma City’s Automobile Alley had a credit cut in October that took its borrowing base from $49 million to $24 million.

A bartender pours a glass of wine at Cafe 501 in Edmond.
Brent Fuchs / The Journal Record

Oklahoma’s $1.3 billion budget shortfall has dominated news coverage of the 2016 legislative session, but one of the bills the public is most interested in is a proposal to overhaul the state’s alcohol laws.

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