Interior Secretary bans new mining and oil and gas exploration on some New Mexico land

  By signing a document during a recent ceremony, Interior Secretary Deb Haaland just banned mining and oil and gas drilling on more than 4,200 acres of land in New Mexico. The land in question is just northwest of the city of Albuquerque and is managed by the Bureau of Land Management in an area …

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Nation’s largest pipe manufacturer to expand operations in Arkansas

    The country’s largest steel pipe and tube manufacturer, Zekelman Industries of Chicago plans to invest up to $120 million to expand its manufacturing plant in northeast Arkansas. The move means an increase to more than 300 employees at its Atlas Tube plant in Blytheville. The company, in its announcement, stated it will also …

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US and Oklahoma rig counts made gains in the past week

  The nation saw a gain of active oil and gas rigs over the past week as the rig count grew by two to reach 619, according to the Baker Hughes rig count released Friday. The gain included 5 oil rigs to reach a total of 511 while the number of gas-drilling rigs fell by …

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ONEOK dividend declared by directors

  A dividend of 99 cents per share has been declared by the board of directors of ONEOK, Inc. The amount is the same as last quarter, according to ONEOK’s announcement of the dividend. The new dividend will result in an annualized dividend of $3.96 a share. It will be payable May 15 of this …

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Energy briefs

** The Biden administration is restricting drilling on millions of acres of government-owned lands in Alaska — and taking the penultimate step toward blocking a mining access road in the same state. The administration announced Friday it would block off oil and gas drilling on 13 million acres in the Western Arctic that are part of an …

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AG Drummond loads still another round in his fight against the EPA

    A new day. A new challenge by Oklahoma Attorney General Gentner Drummond to yet another controversial rule from the U.S. Environmental Protection Agency. This one is a challenge to the Biden administration’s use of the EPA to force American motorists to buy electric vehicles by enforcing new environmental regulations against gas powered cars. …

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Borrowing power of PHX Minerals remains steady following review

  The borrowing ability of Fort Worth-based PHX Minerals Inc. is unchanged following a regularly scheduled semi-annual redetermination of the firm’s senior secured credit facility. Following the review, the facility reaffirmed PHX’s existing $50 million borrowing base with no changes to pricing, covenants or other material terms, according to a company announcement. Further, the Maturity …

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OIG responds to Lucas move to replacing acting director

    The U.S. Commerce Department’s Office of Inspector General says allegations of whistleblower retaliation made by Oklahoma Congressman Frank Lucas and other members of a House committee against the Acting IG Roderick Anderson were  investigated and found to have no basis. The book was closed on the claims. In a response to OK Energy …

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New 80 mph speed limit on H.E. Bailey turnpike

  Motorists can now legally drive 80 mph on part of the I-44/H.E. Bailey Turnpike in Oklahoma rather than hedging the 75 mph speed limit. The limit was increased to 80 on Thursday on a 59-year mile portion of the turnpike between Chickasha and Lawton in Comanche, Caddo and Grady counties. Signs were installed with …

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Crude oil and Oklahoma energy stocks finished the week with gains

Crude oil prices finished up on Friday but down for the week. The gain in prices on Friday came after Iran downplayed Israel’s missile attack which came days after Iran sent hundreds of missiles and drones over Israel. West Texas Intermediate crude gained 41 cents or 0.5% to reach $83.14 a barrel on the New …

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