New Mexico and Texas agreed to work together in regulating oil and gas operations that cross the state lines in the Permian Basin. In some cases, horizontal wells drilled in New Mexico crossed the state line and vice versa reported the Carlsbad Current Argus. Click here for Carlsbad Current Argus
Category: Oil & Gas
$8 billion Cheniere Energy LNG expansion project started in Texas
A formal groundbreaking ceremony was held this week by Cheniere Energy over an $8 billion expansion of its Corpus Christi liquefied natural gas plant. The project won’t be completed until 2025 and the expansion will include seven additional production lines or “trains” reported the Corpus Christi Caller-Times. Click here for Corpus Christi Caller-Times
Cushing crude oil reserves hold steady
A slight gain in the amount of crude oil held at the Cushing oil hub was recorded in the past week according to the U.S. Energy Information Administration. The EIA reported the amount in storage as of September 30 was 26 million barrels of crude oil, a gain of 300,000 barrels over the previous …
Other headlines of energy stories
** OPEC+ announced it’ll slash output by 2 million barrels per day (bpd) on Wednesday (Oct. 5), the biggest cut since the pandemic started in 2020. The White House’s reaction was swift, calling the decision “shortsighted” and accusing the oil cartel of “aligning with Russia.” ** President Biden on Wednesday said he would release 10 million more barrels …
New Mexico congressional candidate changes tune about oil and gas
A Democratic candidate for Congress from New Mexico finds himself in a quandary as election time approaches. Should he stand by his 2018 call for an immediate end to oil and gas production or tell voters, the oil and gas industry is really important to New Mexico? Guess what Gabe Vasquez, a former …
Regulators to consider OGE request
Oklahoma Corporation Commissioners will meet Thursday morning to consider the annual fuel cost adjustment request for Oklahoma Gas and Electric Company. The hearing concerns Case No. PUD2022-000097 and a recommendation of the Commission’s Public Utilities Division. The meeting starts at 9:30 a.m.
OPEC+ cuts production while crude prices rose and OK energy stocks made gains
Crude oil prices rose again Wednesday in response to the decision by OPEC+ to cut oil production by an amount even larger than many had speculated. The cut by the oil-exporting countries was seen as a move to support sagging oil prices, but it could also deal another blow to a struggling global economy. …
Senators tell Biden it’s time to end his war on oil and gas
Senator James Lankford (R-OK), who serves on the Senate Energy and Natural Resources Committee, joined Senator Bill Cassidy, M.D. (R-LA) to lead a group of Republican senators in demanding the Biden Administration end its assault on domestic oil and gas production and continue to sell oil and gas leases on federal land and water. The …
Headlines of more energy stories
** White House officials have asked the US Energy Department to analyze the possible impacts of a ban on exports of gasoline, diesel and other refined petroleum products, an indication that the controversial idea is gaining traction in some parts of the Biden administration. ** Monica Medina, the wife of White House chief of staff Ron Klain, …
ONEOK plans a release of 3Q report in early November
ONEOK, Inc. will release third quarter 2022 earnings after the market closes on Nov. 1, 2022. ONEOK’s executive management will participate in a conference call the following day. The Nov. 2 conference call will be held at 10 a.m. Central Time The focus will be whether the utility was successful in building on …