The city of Denver, Colorado has joined the list of those places where some natural gas will be banned from use in some buildings. The city’s new building codes that take effect in 2024 will ban natural gas furnaces and water heaters but not gas cooking stoves. Officials say it shows the city’s commitment …
Category: Oil & Gas
California energy firm acquires 545 wells in Oklahoma and Kansas
California-based Foothills Exploration, Inc. announced the acquisition of 545 wells and leases in Oklahoma and Kansas and plans to return many of them to production. Headquartered in Los Angeles, the company obtained the wells through the 100% acquisition of Jubilee Exploration, LLC, an Oklahoma limited liability company. Jubilee owned the wells in northeastern Oklahoma …
Investors sought by ONEOK
The latest effort by ONEOK executives to seek new investors involves two conferences. The company said it would take part in the Barclays Investment Grade Energy and Pipeline Corporate Days to be held March 1. The second effort was the Morgan Stanley Global Energy and Power Conference scheduled for March 2. ONEOK, Inc. is …
Gulfport 4Q earnings result in expanded stock repurchase effort
Finances improved in the fourth quarter for Gulfport Energy Corporation as the Oklahoma City-based firm with major operations in the Utica play reported $188 million in net cash in stead of an $18.5million net loss it had in the third quarter of 2022. Its efforts were strong enough that Gulfport expanded its common stock …
Kansas AG is first to accuse gas company of profiting off 2021 winter storm
Kansas Attorney General Kris Kobach made an unprecedented move this week—he sued a natural gas company and accused it of manipulating prices during the 2021 winter storm that also drove energy prices to sky high limits in Oklahoma. Kobach filed suit against Macquarie Energy LLC of Houston and accused if of manipulating the price of …
Oklahoma Representatives voted to kill Labor Department’s ESG rule
All five members of the Oklahoma delegation in the U.S. House voted this week in support of a bill to kill the Biden administration’s ESG rule, one that encourages private retirement plan fiduciaries to consider environment, social and governance factors. Reps Bice, Brecheen, Cole, Hern and Lucas were among the 216 House members who …
Quick energy reads
** President Biden may be close to issuing the first veto of his presidency as Congress is expected to pass a resolution disapproving of a Department of Labor (DOL) rule allowing retirement plan managers to factor environment, social and governance (ESG) into their investment decisions. ** Power from zero-carbon sources made up a full 41% of the …
Commissioner Anthony disgusted at putting reins on outside expert
Another layer of whitewash. It’s what Oklahoma Corporation Commissioner Bob Anthony called the move by fellow commissioners Todd Hiett and Kim David to hire an “independent consultant” to review the $6 billion in 2021 fuel cost cases pending before the Commission. “It’s so restricted as to be absurd,” said Anthony in reacting to the …
Oklahoma regulators decide to use ‘outside’ expert in reviewing utility fuel costs
The Oklahoma Corporation Commission approved Tuesday a measure to look into the process under which an outside expert would be hired to examine un-securitized 2021 fuel cost recovery charges of Oklahoma Natural Gas, Oklahoma Gas and Electric, and Public Service Company of Oklahoma. The measure was brought by Commission Chairman Todd Hiett at the …
Crude oil rose 2% on Tuesday while most OK energy stocks suffered losses
Crude oil prices rose about 2% in Tuesday’s trading but Oklahoma energy stocks failed to make the upward ride with a majority recording losses for the day. What prompted the increase in crude oil? Optimism of a strong economic rebound in China. West Texas Intermediate crude gained $1.37 or 1.8% to finish at $77.05 a …