Category: Oil & Gas

Texas energy companies push back against Berkshire Hathaway’s $8 billion plan for backup power

  Billionaire Warren Buffett apparently sees a way to make money off the woes of Texas following the February winter storm. His Berkshire Hathaway Energy’s $8.3 billion plan to build 10 new natural gas power plants across the state for emergency use has been formally introduced in the form of a bill in the Texas …

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Growth seen in Oklahoma oil and gas rig numbers

  Oklahoma has slowly made gains in the number of oil and gas rigs in the field as the latest Baker Hughes report shows the state with 21 operational rigs. The number is an increase of one over a week earlier and compares to 24 a year ago. Nationally, the rig count grew by 7 …

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Blackouts cut North Dakota oil production in February

  North Dakota’s oil production also fell victim to electrical power blackouts caused by the massive February winter storm. Oklahoma exploration companies with extensive operations in the state were likely victims of the rolling blackouts. The nation’s second largest oil-producing state, North Dakota churned out 1.08 million barrels of crude per day in February, down …

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Bankruptcies continue to hit oil and gas industry

  Bankruptcies of North American oil producers were at their highest level in the first quarter of the year since 2016. A report by the Haynes and Boone law firm showed at least eight bankruptcies were filed by oil and gas producers according to Reuters. Click here for Reuters story.  

US crude oil prices hit a strong $63 mark

  Thursday was another day of increased crude oil prices in the U.S. and in Europe as prices in the U.S. finished midway between $63 and $64 a barrel reaching four-week highs. The increased prices are believed to be due to positive U.S. economic data and higher demand forecasts from the International Energy Agency and …

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Enverus reports increase in rig numbers

  The US rig count rose by one in the last week to 509 as of April 14, according to Enverus Rig Analytics. The count is up 5% in the last month but down 7% YOY. Both the Anadarko Basin and the DJ Basin have seen rig counts recover to year-ago levels at 30 and …

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Montana AG outlines case for Keystone XL pipeline

  Some details of the lawsuit brought by Oklahoma Attorney General Mike Hunter and 21 other state attorneys general against the President’s cancellation of the Keystone XL Pipeline permit were revealed this week during a congressional hearing. Montana Attorney General Austin Knudsen outlined the case to a House subcommittee, professing that President Biden’s action revoking …

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Biden admin discusses tribes’ broader oversight in oil-rich Oklahoma

  The Biden administration has reached out to Oklahoma Gov. Kevin Stitt and is reported to be in talks over the impact of the McGirt U.S. Supreme Court ruling that stripped the state of criminal prosecutions in cases on reservation land. Reuters reported the talks focus on whether tribes in Oklahoma should have a bigger …

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Rep. Mullin labels Biden’s executive orders “disastrous agenda”

  Oklahoma Congressman Markwayne Mullin vows to keep fighting President Biden’s executive orders attacking American energy calling them a “disastrous agenda.” In a column entitled  “American Energy Produces Global Stabilization,” the Republican Representative wrote, “By threatening our energy security, President Biden has failed to understand one major premise: American energy produces global stabilization.” Click here …

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Utility bailout plan faces criticism

  More transparency. It’s what some citizen advocacy groups are calling for in the wake of a plan announced by Oklahoma leaders to help utilities avoid passing nearly $4.5 billion in debt from the February winter storm onto the backs of consumers. As the Enid News & Eagle reported, leaders of VOICE which is a …

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