Category: Oil & Gas

New Mexico legislators consider gas tax replacement

  Road usage fees. It’s what New Mexico state legislators are considering as electric vehicles hit the highways and more and more vehicles have better gasoline mileage. Members of a Transportation Infrastructure Revenue Subcommittee met this week to discuss how those fees might replace the gas tax which raises funds for highway maintenance and repair …

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Unit Corporation executive steps down

  Nearly two years after he gained a promotion amidst an executive leadership shakeup at Tulsa’s Unit Corporation, Senior Vice President and Chief Operating Officer David P. Dunham is leaving the energy company. His departure was announced this week in a filing with the Securities and Exchange Commission in which Unit Corporation stated that he …

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Falling Continental Resources shares make Hamm’s offer look stronger

  Billionaire Harold Hamm’s $70 a share offer to take Continental Resources private might be looking more and more attractive these days. Especially since prices for a share of the company he founded in the late 1960s have fallen since he made the offer in mid-June. Three weeks later and Continental shares have dropped closer …

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Headlines of other energy news stories

** The Department of Energy is opening up funding to states and tribes to strengthen their power grids against extreme weather events. ** A growing number of consumers are eager to buy a battery electric vehicle, especially if certain concerns related to EV ownership are addressed, such as creating greater access to charging, extending vehicle range, and lowering purchase prices, according …

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Crude oil prices take another plunge

  Crude oil prices took another dip in Wednesday’s trading as both WTI and Brent crude dropped about 2% to a 12-week low—another sign of investors growing more worried about energy demand and an expected global recession. It was the second straight day of price declines as West Texas Intermediate crude for August delivery fell …

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Ovintiv sells holdings in Bakken and Uinta Basins

  Ovintiv Inc. announced Wednesday the $250 million sale of some of its assets in the Uinta and Bakken Basins and said it intends to use proceeds to increase cash returns to investors. The Denver-based company, with a heavy commitment in Oklahoma, said the sale involved two counter parties but did not identify them.   …

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Oklahomans change driving habits over high gasoline costs

  Record high gasoline prices in Oklahoma have caused an estimated 63% of drivers to adjust their driving habits according to AAA. It reflects an increase in the number reported in November 2021. A new AAA poll indicates that Oklahoma drivers are adjusting their daily driving habits, their travel plans and their travel budgets to …

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Vandals suspected in large oil leak in town of Cyril

  Investigators believe vandalism was behind the leak of thousands of barrels of petroleum-based fluid from a drilling company located in Cyril. Caddo County Sheriff’s officers believe someone broke into the Stellar Drilling Fluid operations by cutting a fence and opened tank valves. The Oklahoma Corporation Commission reported the same claim  according to News 9 …

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Oil and gas revenue remains strong for Oklahoma’s treasury

  An all-time high oil and gas production in the state helped boost Oklahoma’s Gross Receipts in June according to State Treasurer Randy McDaniel. He said it shows Oklahoma’s economy continues to expand despite inflation. announced today. Gross production taxes on oil and natural gas totaled$171.2 million in June, an increase of $91.5 million, or …

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Iowa to consider a third CO2 pipeline

  A third CO2 pipeline has been proposed in Iowa where some landowners are fighting the prospects of imminent domain. Click here for The Gazette