November 18, 2021 archive

Oil prices rebounded but OK energy stocks lost in Thursday’s trading

  After hitting their lowest levels in nearly 6 weeks, crude oil prices on Thursday rebounded in the U.S. and globally. But it wasn’t enough to help Oklahoma energy stocks as several experienced losses for the day, including one with a 16% drop in share prices. West Texas Intermediate crude for December delivery managed a …

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Mammoth Energy announces multi year EV charging station engineering contract

  Mammoth Energy Services, Inc. announced that one of its subsidiaries has been awarded a multi-million dollar contract by a major utility to provide engineering services for the building of Electric Vehicle charging station infrastructure. The contract was won by Mammoth’s wholly owned subsidiary, Aquawolf LLC , a Denver-headquartered provider of infrastructure engineering services. The name of …

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Enverus reports rig count is down in US

  The number of oil and gas rigs running in the U.S. fell by nine in the last week to a total of 653 as of Nov. 17, according to Enverus Rig Analytics. At the same time, the weekly report showed a slight uptick in drilling activity in Oklahoma’s Anadarko Basin. Enverus stated there was …

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Manufacturing slowdown in Oklahoma and nearby states

  Manufacturing in Oklahoma and other states making up the Tenth District of the Federal Reserve Bank of Kansas City slowed in recent weeks as managers complained of shortages of supplies and workers and of COVID-19 vaccination mandates. The November Manufacturing Survey was released Thursday. Despite the slowdown, Chad Wilkerson, vice president and economist at …

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Delayed vote on Interior nominee who is opposed by GOP Senators

  Oklahoma Sen. James Lankford and others on a Senate Committee will try a third time to hold a confirmation vote on another Biden nominee for the Interior Department. A vote had been scheduled this week for Laura Daniel-Davis in the Senate Energy and Natural Resources but the vote was rescheduled because a senator needed …

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PSO gets J.D. Power award

        Public Service Company of Oklahoma (PSO), a subsidiary of American Electric Power (Nasdaq: AEP), scored highest in the South Midsize segment in the J.D. Power 2021 Electric Utility Business Customer Satisfaction StudySM, released this week. PSO ranked No. 1 among midsized utilities in the South overall and topped the annual study …

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Crude keeps flowing in North Dakota

  It’s always interesting to see how the efforts of Oklahoma energy firms play out in North Dakota where they’re active in helping the state vie to be either the second or third largest oil-producing state in the U.S. They’re usually mentioned in the weekly Energy Chaser written by Renne Jean, Assistant Managing Editor of …

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Mullin bills pass Energy and Commerce committee

  Two bills sponsored by Congressman Markwayne Mullin (OK-02) passed the Energy and Commerce Committee during a full committee markup this week. H.R. 3320, the Allied Health Workforce Diversity Act and H.R. 5487, the Stillbirth Health Improvement and Education (SHINE) for Autumn Act passed by voice vote. “I want to thank my colleagues on both sides of the …

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EIA predicts crude oil prices will fall and Cushing inventories will climb next year

    The U.S. Energy Information Administration is out with its crude oil forecast for 2022, suggesting the demand that caused lower inventory levels in Cushing and elsewhere and higher crude oil prices will swing dramatically in the coming months. The EIA’s Short-Term Energy Outlook (STEO) predicts rising production from OPEC+ countries and the U.S. will eventually …

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Pipeline Co. agrees to $2M settlement over oil spill in Yellowstone River

  It will cost a Wyoming pipeline company $2 million to settle a civil lawsuit with the U.S. and the State of Montana over a 2015 pipeline spill into the Yellowstone River. Bridger Pipeline, LLC reached the agreement reported KULR TV in Montana. Click here for KULR TV