Gasoline prices in Oklahoma City have dropped to 99 cents a gallon as oil prices remain in the low $20s and the coronavirus pandemic and resulting stay-at-home orders have left motorists off the highways and streets. It came as oil dropped to barely above the $20 a barrel level. The 99-cent a gallon for …
The latest numbers show Lea County, New Mexico is now the number one oil and gas producer in the U.S. Situated in the western part of the Permian Basin, the county overcame McKenzie County, North Dakota for the honor. “Lea County is now officially the No. 1 oil and gas producer in the U.S.,” …
Major oil companies including BP and Shell are preparing to take the rare step of storing jet fuel at sea as the coronavirus outbreak disrupts airline activity globally, while refiners are shifting to diesel because of the poor margins associated with jet fuel production. Jet fuel demand has cratered as airlines suspend flights due to …
Oklahoma City-based Enable Midstream Partners, LP announced that Enable Mississippi River Transmission, LLC received approval from the Federal Energy Regulatory Commission of its uncontested rate case settlements with customers. The settlements establish rates for services on the MRT system that provide a return on MRT’s historical investments, recovery of the pipeline’s ongoing operating costs and …
Tulsa’s Williams announced that The Williams Foundation has pledged $1 million to provide community support during what it calls “this unprecedented time of financial volatility and global health concern.” “Not only does the coronavirus pandemic continue to create disruption in our communities, but we are also closely monitoring the collapse in oil prices and the …
Tulsa’s Unit Corporation has decided to void its $300 million note exchange offer that had been announced earlier in the year. In a weekend announcement, the company said it had terminated the offer to exchange any and all of its outstanding 6.625% Senior Subordinated notes due 2021. The company said that since the exchange offer …
At least three states passed laws putting new criminal penalties on protests against fossil fuel infrastructure in just the past two weeks amid the chaos of the coronavirus pandemic. First came Kentucky. On March 16, Gov. Andy Beshear (D) signed legislation that designated “natural gas or petroleum pipelines” as “key infrastructure assets” and made “tampering with, impeding, …
Refinery operator Dallas-based HollyFrontier Corporation plans to announce results for its quarter ending March 31, 2020 on May 7, 2020, before the opening of trading on the NYSE. With refineries in Tulsa, El Dorado, Kansas and other states, the company has scheduled a webcast conference on May 7, 2020 at 8:30 a.m. Eastern time to discuss …
It’s a different world because of coronavirus and it means a different way of conducting business at the Oklahoma Corporation Commission. With the main offices closed in Oklahoma City as well as the satellite facilities in Tulsa, state regulators are still open for business. It’s just that things are done over the telephone or the …
Pipeline operators with full storage tanks are asking some Texas oil companies to stop production as the ongoing price war between Russia and Saudi Arabia has exacerbated a global supply while the pandemic has dramatically cut global demand. In a Saturday morning tweet, Texas Railroad Commissioner Ryan Sitton, one of three officials elected to oversee the …
