Author's posts
Congressman reminds bank regulators of Oklahoma’s infamous Penn Square Bank failure 41 years ago
When a House Committee grilled federal regulators this week on their bailout of California’s Silicon Valley Bank, Oklahoma Congressman Frank Lucas was among those wanting some answers. He also reminded regulators of the infamous collapse of the Oklahoma City Penn Square Bank and the response of the FDIC in the early1980s. He sits on …
Devon’s SEC filing details revolving credit agreement
A new SEC filing by Devon Energy Corporation showed the Oklahoma City oil and gas firm recently entered into an amended and restated credit agreement for a $3 billion revolving credit facility. Bank of America, N.A. was identified as the administrative agent and the swing line lender. Such a lender is one that makes …
Kansas legislators debate blinking wind tower lights and blocked railroad crossings….sound familiar?
Kansas legislators are dealing with two issues common across Oklahoma—blinking red lights from wind towers across the land and trains blocking street crossings. As for the blinking wind turbine lights, legislators were told this week, “These blinking red lights drive people crazy,” as Rep. Carrie Barth put it. Senate Bill 49 would require the installation …
Colorado winds to cause power outages
Winds gusting up to 70 miles an hour are expected to rake across southern Colorado on Friday, bringing power outages and damage. The National Weather Service issued a high wind warning, especially for areas in the San Luis Valley, the southeastern mountains, the southern I-25 corridor and the far south plains. Power outages …
Texas legislators tackle bill to oppose EPA’s anti-oil and gas efforts
Texas legislators are considering a bill to bar state officials from giving assistance of any kind to enforcement of any federal oil and gas law that contradicts the state’s own laws. The Hill reports the bill has bipartisan support and if signed into law could prevent problems to the Environmental Protection Agency in its …
Oklahoma Senators vote to overturn WOTUS
Oklahoma U.S. Sens. James Lankford and Markwayne Mullin were among the 53 Senators who voted Wednesday in support of a Congressional review Act resolution to overturn the Biden administration’s Waters of the United States Rule. The final vote was 53-43 and four Democrats voted with Republicans in favor of repealing the controversial rule that …
Crude oil total declines at Cushing Hub
Data from the federal government shows the amount of crude oil in storage at Oklahoma’s Cushing hub declined in the past week. The U.S. Energy Information Administration reported that Cushing held 35.2 million barrels of crude oil as of March 24, down from the 36.8 million barrels recorded as of March 17. Crude stocks …
Congresswoman says America needs Lower Energy Costs Act
Oklahoma Congresswoman Stephanie Bice makes the case to support the Republicans’ H.R. 1, the one they call the Lower Energy Costs Act. In a letter released this week to her constituents, the Republican Representative said the Act would roll back anti-energy policies put forward by the Biden Administration and repeal the $6 billion natural …
ONE Gas receives proceeds from sale of Winter Storm Uri bonds in Texas
A filing with the SEC by ONE Gas revealed its Texas Gas Service division received nearly $197 million as its portion of the net proceeds from the sale of Winter Storm Uri bonds. The filing indicated the sale was of Customer Rate Relief Taxable Series 2023 Bonds issued by the Texas Natural Gas Securitization …
Production of 2,900 barrels a day from two more Ovintiv wells near Okarche
The ability of Ovintiv Inc. to find large producer oil wells in Oklahoma’s STACK play continues to be a marvel to observers of the oil and gas industry. The company’s latest two producers, both drilled on a single pad in Kingfisher County had combined production of nearly 2,900 barrels of oil a day. Both …
