A $7.6 billion deal just created the largest oil and gas producer in Colorado. Chevron Corp. is buying PDC Energy and assuming PDC’s debt of more than $1 billion. In return, Chevron will also get 275,000 acres adjacent to the company’s holdings in the Denver-Julesburg Basin in northern Colorado’s Weld County reported The Colorado …
Category: Oil & Gas
Wyoming to get a $14 billion oil refinery? Or is it just a rumor?
Wyoming state leaders are wondering if the rumors are true that their state might be picked as the site for a proposed new $14 billion refinery. Gov. Mark Gordon’s energy czar, Randall Luthi talked of the rumors at a recent Joint Minerals, Business and Economic Development Committee meeting. The Cowboy State Daily reported Canadian businessman …
Corporation Commissioner expresses concerns about Biden’s “overreach” of energy development
Oklahoma Corporation Commissioner Kim David wants Oklahomans to know she is a firm believer of the premise of “all of the above” energy development in the country. Writing an opinion piece this week in the Oklahoman, the Commissioner, sworn in to office in January, expressed her concerns of the Biden administration’s “overreach” when it …
Houston energy firm expands holdings in Williston Basin
ExxonMobil Corporation just signed an agreement to sell its 62,000 acres of holdings in the Williston basin to Chord Energy Corporation for $375 million. Zacks reported that 77% of the holdings is undeveloped. Chord Energy is headquartered in Houston and considered to be one of the leading oil and gas producers in the Williston …
Latest Permian Basin acquisitions
A Houston company has joined some Oklahoma energy companies in being the latest to make acquisitions in the oil and gas rich Permian Basin. Kimball Royalty Partners announced the $141 million acquisition of nearly 60,000 acres in the region. Another company, Epsilon Energy of Houston is in the process of a $14 million acquisition …
PSO’s $155 million rate hike settlement to continue Tuesday for a second day of questions
A Corporation Commission hearing on a $155 million rate hike requested by Public Service Company of Oklahoma was continued Monday until Tuesday morning. An Administrative Law Judge presided over the hearing that explored the stipulation or settlement agreement reached by the State Attorney General and the AARP with PSO. The hearing lasted most of …
Crude oil recorded gains on Monday
Crude oil prices rose 1% on Monday with an increase in U.S. gasoline futures while some Oklahoma energy stocks saw as much as a 6% gain for the day even as one firm dropped 11%. The price gain came as forecasts indicated an increase in oil demand in the second half of the year. …
EIA predicts fall in crude oil prices for rest of 2023 and in 2024
The U.S. Energy Information Administration came out this week with a prediction of lower crude oil prices not only for the remainder of 2023 but also for 2024. “We lowered our crude oil price forecast for the rest of 2023 and for 2024 in our May Short-Term Energy Outlook (STEO) because of relatively rapid declines …
AAA predicts Oklahoma Memorial Day weekend travel to be as heavy as before the COVID pandemic
AAA Oklahoma is projecting that more than 550,000 Oklahoma residents will travel a distance of 50 miles or more over the Memorial Day Weekend. As usual, the large majority, or more than 82%, will be driving to their destinations, though air travel and travel by other …
$32 million federal grand to study carbon capture hub near Pueblo, Colorado
The Federal government just awarded $32 million to the Colorado School of Mines to develop a carbon sequestration hub near Pueblo. The region near Pueblo has large carbon emissions from two power plants and cement kiln. The Department of Energy grant will be used by the School of Mines and the Los Alamos National …