A possible money wrench has been thrown into the plans of billionaire Harold Hamm to take his Continental Resources oil and gas company back private. A class-action lawsuit has been filed by a company shareholder who contends the $70 a share offer made by Hamm in June is too low—way too low. Since Hamm …
Category: Oil & Gas
Williams to be part of Barclays CEO conference
The upcoming 2022 Barclays CEO Energy-Power Conference will include participation by Williams Cos. leader Alan Armstrong. Armstrong, Williams President and Chief Executive Officer will be joined by Chief Financial Officer John Porter in the Wednesday, September 7 conference in New York City. Armstrong is scheduled to present at the conference at approximately 10:20 …
Chesapeake Energy makes changes in stock warrants
Chesapeake Energy announced some changes this week in its previously announced exchange offers regarding its outstanding warrants for company shares. The Company has extended the offering period for each Offer until 11:59 p.m. (New York City time) on September 30, 2022. Chesapeake’s common stock, Class A warrants, Class B warrants and Class C warrants are listed on …
Cushing crude stocks dropped in late August
After a slight increase earlier in August, the Cushing hub’s stock crude oil dipped again in late August. The latest report from the U.S. Energy Information Administration showed Cushing held 25,284,000 barrels of crude oil as of August 26. It was a decline from the 25,807,000 barrels reported as of August 19. Crude stocks …
Gasoline prices continue their fall
While U.S. wholesale gasoline prices dropped to their lowest levels since before Russia’s war against Ukraine on Wednesday, prices fell to an average $3.43 a gallon in Oklahoma. U.S. gasoline futures fell as low as $2.58 a gallon, the lowest price since Feb. 18 before Russia invaded Ukraine. Oklahoma’s average of $3.43 compared …
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** A group of 34 Democrats and 16 Republicans in the U.S. House wrote a letter to President Joe Biden on Thursday expressing their concerns about the administration’s efforts to revive the Iran Nuclear Deal. ** U.S. wholesale gasoline prices fell to their lowest levels since before Russia’s invasion of Ukraine on Wednesday, suggesting motorists …
Crude oil prices dropped again and so did OK energy stocks
Growing worries that the global economy will only worsen because of China’s renewed COVID-19 restrictions sent crude oil prices slumping even more on Wednesday. Oklahoma energy prices ended up with a weak day of trading. West Texas Intermediate crude for October delivery dropped $2.09 to $89.55 a barrel on the New York Mercantile Exchange. …
West Texas pipeline expansion planned by Magellan Midstream
Magellan Midstream Partners, L.P. announced this week plans for a $125 million expansion of its refined petroleum productions pipeline system in southwest Texas. The Tulsa-based company plans to extend the system from the Houston area to El Paso, Texas. It currently is capable of transporting nearly 70,000 barrels of oil a day of refined …
Texas creates rules to prepare utilities and energy firms for extreme weather
Texas regulators took the step this week to make sure their natural gas companies are ready for extreme weather—the kind of weather the state experienced in February 2021 when there were massive power outages and people died without heat. New rules adopted by the Texas Railroad Commission require oil and companies to be able …
And you thought we were finished with Keystone XL pipeline fight
We haven’t seen the last of the fight over the now-abandoned Keystone XL pipeline project, the one cancelled by President Biden in his first week in office. Now an Indigenous-backed energy company wants more than $38 million from Keystone operator TC Energy Corp. Bloomberg reports Natural Law Energy Inc., a group representing a number of …