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"May 3, 1987 — The Union Pacific Corporation consolidated two subsidiaries, Champlin Petroleum and the Rocky Mountain Energy Company, into a single operating company called the Union Pacific Resources Group, Inc. It said the change would permit further cost and productivity improvements in the natural resource businesses. (New York Times, May 4, 1987)
UPC acquired Champlin Petroleum Company ("Champlin") in 1970 to manage the exploitation of its oil and gas operations on the Land Grant. The Land Grant consists of land granted by the Federal government to a predecessor of UPC in the mid-1800s which passes through the states of Colorado and Wyoming and into Utah and intersects several highly productive oil and gas basins.
In the Land Grant Area, the Company has fee ownership of the mineral rights under approximately 7.9 million acres constituting the initial Land Grant and controls the mineral rights under approximately 700,000 additional acres.
In 1971, UPC combined its own oil and gas operations with those of Champlin. In 1987, the Champlin name was changed to Union Pacific Resources Company ("UPRC") and UPRC also became responsible for managing UPC's hard mineral assets."
http://utahrails.net/up/up-corp-subsidiaries.php
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https://www.c-span.org/video/?12746-1/silverado-savings-loan-closure
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WASHINGTON — The Treasury Department asked the FBI last fall to investigate allegations that regulators delayed until after Election Day, 1988, their closing of a Colorado savings and loan where President Bush's son, Neil, was a director, documents show.
An FBI spokesman confirmed on Monday that the agency has been investigating Silverado Banking, Savings & Loan Assn. for more than a year, but he declined to say whether the effort covers charges of pressure to delay Silverado's closing.
The Treasury Department's inspector general, who started the investigation into the savings and loan in June, 1990, referred the matter to the FBI last October, letters obtained under a Freedom of Information Act request show. The Denver-based financial institution was seized by regulators in December, 1988, and its failure is expected to cost taxpayers about $1 billion.
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"The Champlin Refining Company, which for many years held the distinction of being the nation's largest fully integrated oil company under private ownership, was based at Enid, Oklahoma. In 1916 Enid banker and entrepreneur Herbert Hiram Champlin (1868–1944) bought a lapsed oil lease on the Beggs farm in the fledgling Garber Field about fifteen miles east of Enid. Champlin was reluctant to enter the new and highly speculative oil business, but at his wife's urging he agreed to invest twenty-five thousand dollars in the venture.
Champlin's first well came in on Christmas Day 1916 as a 250-barrel producer. The banker-turned-oilman drilled more wells on his 160-acre lease and in July 1917 purchased a small refinery on the outskirts of Enid, enlarged it to provide a market for the oil from his wells, and established the Champlin Refining Company. In order to provide a secure market for the refinery's growing output, He purchased a series of small oil companies that operated service stations. By the mid-1920s Champlin Refining Company was marketing petroleum products in a six-state area centered on Oklahoma. As the organization grew, it drilled more wells, built a large pipeline network, opened additional refineries, and greatly expanded the retail operation, all under the auspices of Champlin's private ownership.
When Herbert H. Champlin died on April 30, 1944, his company employed more than eight hundred people in Enid, operated service stations and wholesale outlets in twenty midwestern states, had a strong drilling and production presence in Oklahoma, Texas, Colorado, and New Mexico, and continued a major refining operation supported by one of the largest pipeline complexes in Oklahoma. The company continued under family ownership until its stock went public in 1953. In 1954 the Champlin Refining Company was bought by the Chicago Corporation of Chicago, Illinois. This $55 million deal allowed the company to operate as a subsidiary until the Chicago Corporation changed its name to the Champlin Refining Company in 1956. In 1964 the Celanese Corporation bought the company, and at the beginning of 1970 Celanese sold Champlin to the Union Pacific Resources Company, a division of the Union Pacific Corporation. They operated the Champlin Refining Company in much the same manner as before. In 1984 they sold the entire retail operation to American Petrofina, closed the Enid refinery, and ended the Champlin Refining Company's lengthy and significant presence in Oklahoma."
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"First National Bank of Enid[edit]
"Enid's First National bank is the only bank in American history to have been closed by the military.
Champlin participated in the land run of 1893, investing in the Enid State Guaranty Bank. Champlin became ill and returned to Kansas. Upon recovery returned to operate a lumber yard with operations in Enid, Hobart, Kingfisher and Lawton. Charley and Sherman Goltry had taken control of the Bank during Champlin’s absence, and Champlin repurchased the bank from them.
During the wave of bank closings in March 1933, Governor William H. Murray ordered all banks in the State of Oklahoma to close. Champlin refused and continued to operate the bank which was financially sound.
In response, the governor called out the National Guard. Captain Stephen J. England led eighteen militia men into town to close the bank, earning the First National Bank of Enid the distinction of the only bank ever to be closed by the military in American history.
Although it survived the depression, the bank was among several banks in Enid that closed in the 1980s as a result of a bad economy."
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"1954: Purchased by the Chicago Corporation for $55,000,000. This parent company changed its name to Champlin Refining Company in 1956.
1964: The Celanese Company purchased the company.
1970: The company was sold to Union Pacific Corporation and was kept as a wholly owned subsidiary.
1984: The Retail business of Champlin was purchased by American Petrofina, after Champlin closed the refinery.
around 1986, Union Pacific Corporation and Champlin Petroleum Company sold the Corpus Christi Refinery. Champlin trade name was part of the deal. Champlin's name was changed to Union Pacific Resources Company (UPRC).
During late 1990's, Union Pacific Corporation spun off the Union Pacific Resources Company.
2000: Anadarko Petroleum Corporation and Union Pacific Resources merged. The Anadarko name survived going forward."
__________________
" Enid holds the nickname of "Queen Wheat City" and "Wheat Capital" of Oklahoma and the United States for its immense grain storage capacity, and has the third-largest grain storage capacity in the world."
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"“We cannot give [Russian President Vladimir] Putin any opening to affect the flow of oil or toy with Americans’ prices at the pump,” Democratic Senator Bob Menendez said in April. “And we cannot play Russian roulette with America’s energy infrastructure. The risk to our national security and our economy is not one I’m willing to take.”
http://www.newsweek.com/us-ready-stop-russian-state-deal-venezuela-texas-oil-firm-report-658395
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http://thehill.com/policy/energy-environment/348007-trump-exempts-citgo-from-venezuela-sanctions
"President Trump is exempting Citgo Petroleum Corp., owned by Venezuela’s government, from the financial sanctions imposed Friday on the country."
"A subsequent disclosure form shows Citgo paid Avenue Strategies $80,000 through June and that Bennett lobbied the White House, the Energy Department, the Justice Department and the Treasury Department, which houses the unit that ultimately imposes sanctions.
In the first half of the year, Citgo spent $900,000 on lobbying, with the lion’s share going to Democratic operative Manuel Ortiz of VantageKnight, a shop he formed after leaving top K Street firm Brownstein Hyatt Farber Schreck. Ortiz, who earned $540,000 in the first six months of 2017 from the oil giant, has represented Citgo since 2014, according to federal forms.
Cornerstone Government Affairs is also on retainer, taking in $280,000 from July through June.
A senior administration official said that officials are also watching out for whether Rosneft, Russia’s state oil company, takes a significant stake in Citgo, which Venezuela put up as collateral for a loan from Russia.
Such a transaction, or trading that collateral for an interest in Citgo assets, could trigger new action against the company since Rosneft is already subject to United States sanctions, the official told reporters"
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http://newsok.com/article/2330274
"The Venezuelan national oil company will merge two Oklahoma-born companies "to achieve a stronger position" in the United States refining and marketing industry, company officials disclosed Thursday.
Champlin Refining and Chemicals Inc., based in Irving, Texas, will be combined with Tulsa-based Citgo Petroleum Corp., Petroleos de Venezuela S.A. (PDVSA) spokesman Kent Young said at a Tulsa news conference. The joint headquarters will remain in Tulsa."
An FBI spokesman confirmed on Monday that the agency has been investigating Silverado Banking, Savings & Loan Assn. for more than a year, but he declined to say whether the effort covers charges of pressure to delay Silverado's closing.
The Treasury Department's inspector general, who started the investigation into the savings and loan in June, 1990, referred the matter to the FBI last October, letters obtained under a Freedom of Information Act request show. The Denver-based financial institution was seized by regulators in December, 1988, and its failure is expected to cost taxpayers about $1 billion.
____________________
"The Champlin Refining Company, which for many years held the distinction of being the nation's largest fully integrated oil company under private ownership, was based at Enid, Oklahoma. In 1916 Enid banker and entrepreneur Herbert Hiram Champlin (1868–1944) bought a lapsed oil lease on the Beggs farm in the fledgling Garber Field about fifteen miles east of Enid. Champlin was reluctant to enter the new and highly speculative oil business, but at his wife's urging he agreed to invest twenty-five thousand dollars in the venture.
Champlin's first well came in on Christmas Day 1916 as a 250-barrel producer. The banker-turned-oilman drilled more wells on his 160-acre lease and in July 1917 purchased a small refinery on the outskirts of Enid, enlarged it to provide a market for the oil from his wells, and established the Champlin Refining Company. In order to provide a secure market for the refinery's growing output, He purchased a series of small oil companies that operated service stations. By the mid-1920s Champlin Refining Company was marketing petroleum products in a six-state area centered on Oklahoma. As the organization grew, it drilled more wells, built a large pipeline network, opened additional refineries, and greatly expanded the retail operation, all under the auspices of Champlin's private ownership.
When Herbert H. Champlin died on April 30, 1944, his company employed more than eight hundred people in Enid, operated service stations and wholesale outlets in twenty midwestern states, had a strong drilling and production presence in Oklahoma, Texas, Colorado, and New Mexico, and continued a major refining operation supported by one of the largest pipeline complexes in Oklahoma. The company continued under family ownership until its stock went public in 1953. In 1954 the Champlin Refining Company was bought by the Chicago Corporation of Chicago, Illinois. This $55 million deal allowed the company to operate as a subsidiary until the Chicago Corporation changed its name to the Champlin Refining Company in 1956. In 1964 the Celanese Corporation bought the company, and at the beginning of 1970 Celanese sold Champlin to the Union Pacific Resources Company, a division of the Union Pacific Corporation. They operated the Champlin Refining Company in much the same manner as before. In 1984 they sold the entire retail operation to American Petrofina, closed the Enid refinery, and ended the Champlin Refining Company's lengthy and significant presence in Oklahoma."
____________
"First National Bank of Enid[edit]
"Enid's First National bank is the only bank in American history to have been closed by the military.
Champlin participated in the land run of 1893, investing in the Enid State Guaranty Bank. Champlin became ill and returned to Kansas. Upon recovery returned to operate a lumber yard with operations in Enid, Hobart, Kingfisher and Lawton. Charley and Sherman Goltry had taken control of the Bank during Champlin’s absence, and Champlin repurchased the bank from them.
During the wave of bank closings in March 1933, Governor William H. Murray ordered all banks in the State of Oklahoma to close. Champlin refused and continued to operate the bank which was financially sound.
In response, the governor called out the National Guard. Captain Stephen J. England led eighteen militia men into town to close the bank, earning the First National Bank of Enid the distinction of the only bank ever to be closed by the military in American history.
Although it survived the depression, the bank was among several banks in Enid that closed in the 1980s as a result of a bad economy."
______________________
"1954: Purchased by the Chicago Corporation for $55,000,000. This parent company changed its name to Champlin Refining Company in 1956.
1964: The Celanese Company purchased the company.
1970: The company was sold to Union Pacific Corporation and was kept as a wholly owned subsidiary.
1984: The Retail business of Champlin was purchased by American Petrofina, after Champlin closed the refinery.
around 1986, Union Pacific Corporation and Champlin Petroleum Company sold the Corpus Christi Refinery. Champlin trade name was part of the deal. Champlin's name was changed to Union Pacific Resources Company (UPRC).
During late 1990's, Union Pacific Corporation spun off the Union Pacific Resources Company.
2000: Anadarko Petroleum Corporation and Union Pacific Resources merged. The Anadarko name survived going forward."
__________________
" Enid holds the nickname of "Queen Wheat City" and "Wheat Capital" of Oklahoma and the United States for its immense grain storage capacity, and has the third-largest grain storage capacity in the world."
_______________
"“We cannot give [Russian President Vladimir] Putin any opening to affect the flow of oil or toy with Americans’ prices at the pump,” Democratic Senator Bob Menendez said in April. “And we cannot play Russian roulette with America’s energy infrastructure. The risk to our national security and our economy is not one I’m willing to take.”
http://www.newsweek.com/us-ready-stop-russian-state-deal-venezuela-texas-oil-firm-report-658395
______________
http://thehill.com/policy/energy-environment/348007-trump-exempts-citgo-from-venezuela-sanctions
"President Trump is exempting Citgo Petroleum Corp., owned by Venezuela’s government, from the financial sanctions imposed Friday on the country."
"A subsequent disclosure form shows Citgo paid Avenue Strategies $80,000 through June and that Bennett lobbied the White House, the Energy Department, the Justice Department and the Treasury Department, which houses the unit that ultimately imposes sanctions.
In the first half of the year, Citgo spent $900,000 on lobbying, with the lion’s share going to Democratic operative Manuel Ortiz of VantageKnight, a shop he formed after leaving top K Street firm Brownstein Hyatt Farber Schreck. Ortiz, who earned $540,000 in the first six months of 2017 from the oil giant, has represented Citgo since 2014, according to federal forms.
Cornerstone Government Affairs is also on retainer, taking in $280,000 from July through June.
A senior administration official said that officials are also watching out for whether Rosneft, Russia’s state oil company, takes a significant stake in Citgo, which Venezuela put up as collateral for a loan from Russia.
Such a transaction, or trading that collateral for an interest in Citgo assets, could trigger new action against the company since Rosneft is already subject to United States sanctions, the official told reporters"
_______________
http://newsok.com/article/2330274
"The Venezuelan national oil company will merge two Oklahoma-born companies "to achieve a stronger position" in the United States refining and marketing industry, company officials disclosed Thursday.
Champlin Refining and Chemicals Inc., based in Irving, Texas, will be combined with Tulsa-based Citgo Petroleum Corp., Petroleos de Venezuela S.A. (PDVSA) spokesman Kent Young said at a Tulsa news conference. The joint headquarters will remain in Tulsa."
