Forget the thought of falling gasoline prices. Oklahomans are now paying far more for a gallon of gasoline than they did one year ago. The statewide average, according to AAA Oklahoma, reached $3.19 this week, a penny higher than a week ago, 32 cents more than a month ago and 18 cents higher …
Category: Oil & Gas
Devon’s 1Q financial report to be released in early May
After reporting $1.7 billion in cash flow in the fourth quarter of 2023, the highest in the past year, Oklahoma City’s Devon Energy plans a release of its first-quarter 2024 results in slightly more than a month. The company announced it will release the quarterly results on Wednesday, May 1 after the close of U.S. …
Energy quick reads
** Eastern seaboard ports are preparing to accept shipments of goods being rerouted from the Port of Baltimore following the collapse of the Francis Scott Key Bridge early Tuesday morning. Port officials and private-sector distributors told The Hill that plans to divert cargo shipments are in the works due to the suspension of vessel traffic …
Crude oil and Oklahoma energy stocks fell in Tuesday’s trading
Not only did crude oil prices settle lower on Tuesday but Oklahoma energy stocks did as well. Observers say the fall in crude happened after investors re-thought the impact of Russian refinery capacity in the country’s war with Ukraine. West Texas Intermediate crude finished down 33 cents or 0.4% at $81.62 a barrel on …
BlackRock’s Larry Fink says company’s investment policies are not discriminatory
“BlackRock has never supported divesting from traditional energy firms.” That’s the claim BlackRock’s Larry Fink made in his annual letter to employees as the company fights claims in Oklahoma and other oil and gas producing states that the firm’s ESG policies are discriminatory. Entitled “Time to Rethink Retirement,” the lengthy letter included Fink’s comments about …
Lithium production leads to questions about lack of regulation
An investigation by Reuters into the nation’s lithium development found a confusing mix of who might regulate such large projects as those in southern Arkansas’ Smackover play. It found for example that in Oklahoma, no one seems to know who might regulate any lithium projects. The Oklahoma Corporation Commission contends it has no …
Industry watchdogs believe glut of gas will cause more flaring in Permian Basin
Environmentalists fear there will be an increased amount of flaring of natural gas in the Permian Basin because of a mild winter and a glut of cheap gas. And some Oklahoma firms are among those being watched closely over their Permian Basin operations. “They have to get rid of the gas because it’s going …
Texas House committee to investigate Biden’s LNG port freeze
Texas legislators have launched their own investigation into President Biden’s recent freeze on future LNG export permits, a White House move that angered not only the oil and gas industry but states such as Oklahoma where there is a heavy presence of the industry. Texas House speaker Dade Phelan announced this week he has formed …
Energy quick reads
** A major bridge in the US city of Baltimore collapsed early Tuesday after being struck by a container ship, sending multiple vehicles and people plunging into the frigid harbor below. Dramatic footage showed a 300-meter vessel hitting the Francis Scott Key Bridge, bringing the steel-built structure crashing into the Patapsco River. ** An aluminum company has …
Mach Natural Resources to release 2023 financial report
The full year 2023 and fourth quarter financial and operating results for Oklahoma City’s Mach Natural Resources LP will be released next week. The company that has oil and gas operations in the Anadarko Basin of western Oklahoma and southern Kansas and into the Texas Panhandle will release the results on Monday, April …