Federal prosecutors announced this week the arrests of 13 persons allegedly involved in a ring of catalytic converter thefts around the Tulsa area. An estimated 2,000 converters were stolen in Tulsa in the past year according to U.S. Attorney Clint Johnson. News on 6 in Tulsa reported some of the defendants are from New …
November 3, 2022 archive
China’s continued COVID actions sent crude prices down Thursday
China’s latest COVID policy raised concerns among crude oil analysts Thursday, causing a 2% slide in oil prices. At the same time, the hike in U.S. interest rates pushed up the dollar, adding to growing fears of a global recession which would result in less demand for fuel. West Texas Intermediate crude for December …
EV manufacturer Canoo plans a second plant in northeast Oklahoma
Canoo has announced a battery module manufacturing facility at MidAmerica Industrial Park in Pryor, OK. The new facility will expand Canoo’s manufacturing and employment footprint in the region. Once ramped, the facility will be capable of approximately 3200 MWhs of battery module manufacturing capacity. “We are accelerating our hiring plans in Pryor with the establishment …
Xcel cancels hydropower project in western Colorado
Xcel Energy stunned western Colorado and probably government regulators too when it announced this week it was dropping its efforts to build a hydropower project in Unaweep Canyon near Grand Junction. The announcement came a day after the Federal Energy Regulatory Commission gave approval for a two-reservoir, pumped-storage hydropower plant reported the Colorado Sun. …
Enverus indicates growth in Anadarko Basin drilling efforts
This week’s Enverus rig count showed a 7-rig dip nationally but also indicated growth in drilling activity in Oklahoma’s Anadarko Basin. The 84 active rigs in the Anadarko Basin equal the 2022 high. A total of 49 companies are drilling wells there currently compared to 39 a year ago. Continental Resources is the most …
GAO says EPA was ‘wrong’ in its ruling against small refineries
A Government Accountability Office investigation requested in 2020 by Sens. Jim Inhofe and James Lankford and others led to a damning report this week in which the GAO concluded the EPA had no basis to deny small refineries relief from ethanol mandates. The request was made as the Wynnewood Refinery and others across the …
Marathon Oil makes $3 billion acquisition of Ensign Natural Resources
Houston’s Marathon Oil Corp., another Texas firm with major operations in Oklahoma announced the $3 billion cash acquisition of Ensign Natural Resources. Here’s what it means to Marathon—130,000 net acres (99% operated, 97% working interest) that span Live Oak, Bee, Karnes, and Dewitt Counties across the condensate, wet gas, and dry gas phase windows of the Eagle Ford. Estimated …
Coterra to get new executive leadership
Coterra Energy Inc., a Houston-based company with operations in Oklahoma announced this week the naming of a new President and CEO. The Board of Directors appointed Thomas E. Jordan to the position but it won’t be effective until Jan. 1, 2023. He’ll succeed Dan O. Dinges, who will remain as Chairman of the Executive Committee. …
Energy headlines elsewhere
** This winter the U.S. Northeast faces its highest energy costs in more than 25 years due to tight heating oil supplies and fierce global competition for liquefied natural gas (LNG) cargoes. The winter could bring more pain, with heating costs nationwide set to soar as much as 28% from last year, according to the U.S. Energy …
Chesapeake CEO warns production could be flat next year
While Chesapeake Energy reported a record third quarter that ended with $1.3 billion in net cash from operating activities, don’t expect the same thing in 2023. It’s what Chesapeake CEO Domenic Dell’Osso warned investors during the company’s conference call. He blamed inflation, saying it could surpass 15% next year. As a result of growing costs …
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