December 11, 2020 archive

Friday wasn’t a good day for most energy stocks

  Crude oil futures closed down on Friday with West Texas Intermediate crude slipping 21 cents to finish the day at $45.57 a barrel in trading on the New York Mercantile Exchange. Trading prices of crude for January delivery had reached more than $47 throughout the day before settling lower for a loss of 0.47%. …

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Big jump in US rig count

  The U.S. saw its biggest rig count in months last week when the number of oil and gas rigs jumped by 15 to reach 338. Oklahoma’s count increased by one to reach 14, still lagging far behind the 50 working rigs reported last year at this time. The US count included 12 more oil …

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Oklahoma’s first public transit plan delivered to Legislature

  (Pictured, from left, are Sen. Michael Bergstrom, Rep. Avery Frix, OTA Chief Executive Officer Mark Nestlen, Rep. Carol Bush and Secretary of Transportation and ODOT Executive Director Tim Gatz.)   Oklahoma’s first-ever transit plan created by the Oklahoma Department of Transportation and the Oklahoma Transit Association is now in the hands of legislative leaders. …

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Judge halts environmental waivers by Texas regulators

    A Texas judge has stepped in and ruled the state’s Railroad Commission cannot enforce a series of emergency environmental rule-waivers it adopted last spring. Bloomberg reports the main oil regulator is prohibited from waiving the environmental rules and fees, steps taken to help oil and gas drillers deal with the plunge in crude …

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North Face refuses oil and gas jacket order

  The popular outdoor gear manufacturer North Face has refused to make jackets for a Texas oil and gas firm because of its stand against fossil fuels. KOSA TV in Odessa reported North Face denied the order requested by Innovex Downhole Solutions. Click here for the KOSA story.

Tighter drilling restrictions adopted around Boulder, Colorado

  Oil and gas drillers around Boulder, Colorado will have to deal with a new 2,500 foot setback rule adopted this past week by County Commissioners. The new rule applies to future oil and gas well pads in unincorporated parts of the county and requires sites to be 2,500 feet from any residential dwelling, school …

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Energy news in brief

** D.E. Shaw & Co. has built a sizable position in Exxon Mobil Corp. and is calling on the company to cut spending to improve performance and maintain its dividend, according to people familiar with the matter. ** Chevron Corporation CVX recently announced that it has temporarily closed down a separating unit at the offshore processing platform of …

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GOP House members warn Federal Reserve against climate change rules for banks

  Forty-seven Republicans in the U.S. House warned the Federal Reserve chairman against moving ahead with climate risk regulations for the banking system. Oklahomans in the House did not join in the letter to Jerome Powell, chairman of the Board of Governors of the Federal Reserve System. The lawmakers expressed their concerns about a growing …

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