Crude oil prices rose again on Friday for a second day of gains and Oklahoma energy stocks had an equally strong day. Oil prices had a strong 1% gain due to growing prospects of lower Russian imports. The day’s trading saw West Texas Intermediate crude for April delivery, gain 93 cents or 1.2% to …
“I don’t think it’s the role of the attorney general to dictate to the utilities on how they consume or purchase their fuel.” Oklahoma Attorney General Gentner Drummond. If critics of the Oklahoma bond securitization Act that allowed utilities to force consumers to pay 2021 Winter Storm Uri costs over 25 to 28 years …
The nation’s number of oil and gas rigs actively drilling for new energy dropped in the past week as did the number in Oklahoma. The U.S. rig count, according to Baker Hughes Co., declined by 7 last week, falling to 753. The decline of 7 was all oil rigs as the national count fell …
** House Republicans are launching an investigation into the Department of Transportation’s response to the Norfolk Southern train derailment in East Palestine, Ohio, accusing Transportation Secretary Pete Buttigieg of being too slow to get involved. ** Multiple energy experts blasted Vice President Kamala Harris after she claimed that the Biden administration has successfully reduced home …
As U.S. crude oil production makes gains, so is the amount of crude in storage at Oklahoma’s Cushing hub. The latest information from the U.S. Energy Information Administration showed Cushing held 40.4 million barrels of oil as of February 17, 2023. A year ago, the hub maintained only 23.8 million barrels. The increase to …
Thursday’s trading resulted in a turn-around for crude oil prices as they settled up 2% on growing worries of steep cuts to Russian oil production in March. As a result, Oklahoma energy stocks also recorded significant gains for the day. West Texas Intermediate crude rose $1.44 per barrel or 2% to settle at $75.39 …
The rig count in the Anadarko Basin slipped in the past week while others across the U.S. made gains according to the latest Enverus Data release. Enverus said the Anadarko Basin shed one rig to hit 67 running. The U.S. rig count reached 856 during the week ended Feb. 22, rising by 11 …
New Mexico legislators are leaning toward adopting a bill similar to what Oklahoma did a few years ago—the prevention of local governments from creating natural gas bans. A bill to stop such action by local governments to restrict the types of fuels provided to residents won recent approval in a New Mexico House Energy, …
Ovintiv USA Inc. moved its history of big producing oil well discoveries from Kingfisher County to Canadian County—still in the STACK play and just further south of where it recorded significant producers. The company’s latest filings of completion reports showed six wells, three on one pad and three on another, with production of more …
Oklahoma City has made one last pitch to the Oklahoma Supreme Court to overturn a Corporation Commission decision that allows no collection of municipal franchise fees normally collected by utilities that received Winter Securitization bonding support. In a recent filing, the city again argued that last year’s decision for Winter Event Securitization resulted in …
