Category: Oil & Gas

Warm winter resulted in lowest propane use in US since 2010

    A new report from the government revealed U.S. propane consumption in the most recent winter was the lowest total since 2010, largely because of warmer weather across much of the nation. The U.S. Energy Information Administration reported consumption averaged 0.986 million barrels a day during the 2022-23 winter heating season, which is October …

Continue reading »

Study ranks banks for their ESG lending policies

  Not long after Oklahoma Treasurer Todd Russ notified 13 financial institutions they were no longer eligible for state contracts because of their ESG policies and anti-oil and gas industry financing, a study was released ranking 40 institutions for their lending practices. It was released by the Committee to Unleash Prosperity which studied the proxy …

Continue reading »

Increase in crude oil in storage at Cushing Hub

  Crude oil supplies at the Cushing Hub in Oklahoma recorded a gain of 1.5 million barrels in the past week according to the latest report from the U.S. Energy Information Administration. The EIA reported Cushing held 35.5 million barrels as of May 12 of this year compared to 34 million on May 5. Cushing’s …

Continue reading »

Brief energy news

** President Biden vetoed a bipartisan resolution Tuesday that would have reversed his executive action last year ordering the Department of Commerce not to enforce tariffs on Chinese solar panel manufacturers for two years. Biden explained that the legislation — which recently passed the House and Senate with Democratic support — “bets against American innovation.” …

Continue reading »

Mitchell Talks Energy

What’s on Scott Mitchell’s mind as he talks energy with Jerry Bohnen of OK Energy Today? One of the subjects is ONEOK’s nearly $19 billion acquisition this week of Magellan Midstream. Join Mitchell and Bohnen as they delve into other energy subjects and who knows what!  

Big 5-well project for Continental Resource in Garvin County

  Continental Resources filed reports this week showing a recent completion of a 5-well single pad drilling project in Garvin County that produced more than 3,300 barrels of oil a day. The company also filed amended reports on three Grady County wells, changing their classification to gas production. The biggest project was the drilling of …

Continue reading »

Tuesday was a weak trading day for crude oil prices and Oklahoma energy stocks

  Crude oil futures dropped again in Tuesday’s trading as weaker-than-expected economic data in China and the US offset a forecast of higher global demand from the International Energy Agency. At the same time, all but 2 of the Oklahoma energy stocks we follow daily managed gains. The rest endured losses. West Texas Intermediate crude …

Continue reading »

Cheniere reaches long-term LNG contract with South Korean company

Cheniere Energy, Inc., the Houston-based company that is well known for its natural gas transmission operations in Oklahoma’s STACK play, has announced a long-term liquefied natural gas sale and purchase agreement with Korea Southern Power Co. Ltd. The sale involves Cheniere’s subsidiary, Cheniere Marketing International LLLP. Under the agreement, the Korean company will acquire 0.4 …

Continue reading »

IEA–don’t let lower crude oil prices fool you

  Worth repeating from Axios Generate…..a report indicating that despite current lower oil prices in the US and the world, we can expect tighter markets and increased global demand in the second half of 2023. Here is how Axios reported the prediction of the International Energy Agency on Tuesday: “The global oil market is slated to …

Continue reading »

EV drivers in Texas to cough up more money for registration fees

  Later this year Texas will begin charging extra registration fees for electric vehicles in lieu of motor fuel taxes that support the construction and maintenance of highways in the Lone Star State.             The Texas Legislature passed and Gov. Greg Abbott signed Senate Bill 505, which will impose an annual $200 fee for the …

Continue reading »