Category: Oil & Gas

US Rig Count Drops by Five to 788

The number of oil and gas rigs active in the U.S. field decreased by five over the past week to reach a total of 788. Although its rig count is flat for the week, the Permian Basin leads the way with 304 active rigs. Eddy County in New Mexico has experienced a jump in drilling …

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New Mexico Lawsuit Filed to Protect Dunes Sagebrush Lizard and Habitat

Leapin’ lizards! A native southeastern New Mexico species is the center of controversy when a lawsuit was filed last week alleging the federal government failed to protect the dunes sagebrush lizard from extinction. Native to the Permian Basin area and west Texas, the lizard dwells in sand dunes around the region, which are mined by …

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Headlines of other energy stories

** The U.S. Department of Energy (DOE), in partnership with the National Alliance for Water Innovation (NAWI), announced a $5 million solicitation for small-scale desalination and water-reuse technologies that will improve the safety, security, and affordability of America’s water supply. ** The Department of the Interior is moving to overhaul decades-old rules for oil and gas leasing …

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Memorial Day gasoline prices highest since 2012, near record levels

    Heading into the Memorial Day weekend, the U.S. average retail price of regular gasoline was $4.59 per gallon on May 23, the highest inflation-adjusted price since 2012 and the fourth-highest price on record. The U.S. Energy Information Administration reported that on a nominal basis, it is the all-time highest price for gasoline in …

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Cushing reports slow decline in crude oil stocks

  The amount of crude oil stored at the Cushing hub in northern Oklahoma continues to decline falling by nearly 1 million more barrels over a week. The U.S. Energy Information Administration reported that as of May 20, there was a total of 24,778,000 barrels of oil estimated to be in storage at Cushing. It …

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Coterra executive sells nearly $2 million in company shares

  An executive with Coterra Energy, one of the oil and gas firms with active operations in Oklahoma sold off nearly $2 million in company shares this week. A company filing with the U.S. Securities Exchange Commission revealed the move by Francis Brian Barron, Senior Vice President and General Counsel for Coterra in Houston. On …

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Inhofe presses Biden nominee about EPA’s handling of small refinery operations

  The President’s nominee to be a top EPA official faced some stiff questioning Wednesday by Oklahoma U.S. Sen. Jim Inhofe about the administration’s energy efforts and how they affect the nation’s supply of aviation fuel. Joseph Goffman, Biden’s nominee to be Assistant Administrator of the Office of Air and Radiation at the EPA went …

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Big gains for Oklahoma energy stocks as crude prices rebound

  Crude oil prices made a rebound on Wednesday and so did Oklahoma energy stocks with some seeing nearly 11% gains for the day. The return to higher crude prices came because of reported tight supplies and word that U.S. refiners increased processing activity to their highest since prior to the start of the coronavirus …

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Supreme Court approves ratepayer backed bonds for ONG, PSO and Summit Utilities

  The Oklahoma Supreme Court, in three separate rulings this week, signed off on more than $2.2 billion in ratepayer bonds for three utilities as they seek rate hikes to recover 2021 winter storm costs. But one justice expressed reservations about the new law used in requesting the financial help, noting that Oklahomans will be …

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Rep. Bice says Dems’ price gouging bill is an insult to hardworking Oklahomans

  Congresswoman Stephanie Bice says instead of taking ownership of the disastrous results of their own energy policies, Democrats are “gaslighting” the hardworking individuals in the energy industry. Writing in a column this week, she criticized Democrats for the Consumer Fuel Price Gouging Prevention Act that was passed last week in the U.S. House. Bice …

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