September 28, 2020 archive

Oil prices finish higher, but rise in coronavirus cases feeds demand concerns

    Crude-oil futures ended higher Monday, recouping some of last week’s losses, but concerns that the rise in coronavirus cases throughout the globe will lead to weaker energy demand has grown. West Texas Intermediate crude for November delivery climbed 35 cents, or 0.9%, to settle at $40.60 a barrel on the New York Mercantile Exchange. …

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Oil leader cautions Oklahoma about following flawed model of becoming dependent on renewable energy

  As the new President of the Petroleum Alliance of Oklahoma, Brook A. Simmons has some words of caution about renewable energy in the state. “What we have to make certain we do in Oklahoma is that we don’t follow the flawed model,” he told OK Energy Today in referring to the mistakes made by …

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Dividend declared by OGE Energy Corp.

  OGE Energy Corp. announced that its Board of Directors has approved an increase in the company’s quarterly dividend to $0.4025 per share from $0.3875 per share, which represents growth of approximately 4 percent and equates to $1.61 per share annually. The increase is effective with the fourth quarter 2020 dividend and will be paid Oct. 30, 2020, to shareholders of …

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Energy news in brief

** A federal judge rules William Perry Pendley has been working unlawfully as acting director of the Bureau of Land Management for 424 days without being confirmed by the Senate. ** United States Secretary of Energy Dan Brouillette criticizes renewable energy and pushes natural gas and nuclear power to provide “24/7 reliable energy” to California. ** The world’s first shipment of …

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Mullin on Democrats energy plan—another step toward socialism

  He wasn’t there for the U.S. House approval of the Democrats’ energy plan but Oklahoma Republican Rep. Markwayne Mullin said he would have voted no. He missed last week’s House vote because of supporting his son’s ongoing rehabilitation from a wrestling injury but issued a statement calling the Democrat plan a “partisan energy package.” …

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Making the leap from working in the oil patch to high above it

  When the COVID-19 smashed the oil patch and left tens of thousands of oil and gas workers unemployed, some made the leap to the renewable energy industry. CBS Money Watch has a story about what some North Dakota workers did when they were left on the unemployment lines. Click here to view the story.

The Crown Jewel of the Shale Patch Braces for a Biden Ban

  A threat exists in the Permian Basin and Oklahoma City’s Devon Energy is one of those companies that might be feeling it. It’s a political threat and it has the attention of many in the oil and gas industry in southeast New Mexico and West Texas, not to mention stretching all the way to …

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Optimism drives new President of Petroleum Alliance of Oklahoma

  If Brook Simmons had any reservations or doubts about taking over the leadership of the Petroleum Alliance of Oklahoma in the middle of the COVID-19 pandemic, he didn’t express them. “I like to be optimistic,” he said in an interview with OK Energy Today, an interview conducted over the phone because of the new …

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Shale producer Devon Energy to buy WPX Energy for $2.56 billion

  In a $2.56 billion all-stock merger, Oklahoma City-based Devon Energy Corp. has acquired Tulsa’s WPX Energy Inc., a move that will expand Devon’s presence in the Delaware portion of the Permian Basin across West Texas and New Mexico. The deal values WPX at $4.56 a share, just 2.7% higher than the stock’s closing price …

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