State Rep. Tom Gann, the Republican legislator who led the Supreme Court challenge to Corporation Commissioner Todd Hiett’s participation in rate cases following sexual and drunkenness allegations against him, responded to a judge’s ruling on an ONG case saying the fuel adjustment case by ONG is unlawful. This time, he again stated all …
Regulators express concerns about proposed PSO case
Even though a proposed Public Service Company rate hike won’t impact residential ratepayers for an estimated 18 months, the 15% impact it will eventually have was the concern of Oklahoma Corporation Commissioners during a Tuesday morning special meeting. “It’s a huge rate impact on customers, and I’m very concerned,” remarked Commissioner Todd Hiett in …
Energy briefs
** Tesla Inc.’s electric vehicles would be shut out from consumer rebates under a proposal by California Governor Gavin Newsom, pitting the prospective Democratic presidential hopeful against Republican power player Elon Musk. ** California Gov. Gavin Newsom proposes offering rebates on electric vehicle purchases if the incoming Trump administration eliminates a federal EV tax credit, while suggesting …
Oil plunges over peace prospects in Lebanon and Israel
A possible peace deal in the Middle East between Israel and the Hezbollah in Lebanon sent crude oil prices dropping more than $2 a barrel on Monday. It came following reports that Israel and Lebanon had agreed to terms of a deal. Reuters reported Israel said on Monday it is moving toward a ceasefire in the war …
PSO rate hike slashed to $119.5 million—negative impact on residential customers
A lot has changed since Public Service Company filed a rate hike request late last year of $218 million before the Oklahoma Corporation Commission. The request quickly grew to $231,198,000 and would have raised customers rates by an average $16 more a month. Since then, a negotiated Joint Settlement, lead by the Attorney General …
Colorado to crack down on methane leaks from oil and gas operations
Air quality regulators in Colorado plan to create tougher and more restrictive rules on methane gas from the oil and gas industry. With ozone pollution a large problem in the Denver area, the Colorado Air Quality Control Commission voted last week to create stricter rules on the hazaradous emissions from oil and gas operations. …
Trump to bring back Keystone XL pipeline?
Three and a half years after President Joe Biden killed the Keystone XL oil pipeline with the stroke of a pen, President-elect Donald Trump wants to revive it and intends to do so on day one back in office. While companies gave up their plans on building the pipeline from Canada and into the …
ONEOK to acquire remaining publicly held common units in EnLink Midstream in a $4.3 billion deal
ONEOK, Inc. and EnLink Midstream, LLC announced that they have executed a definitive merger agreement under which ONEOK will acquire all of the outstanding publicly held common units of EnLink for $4.3 billion in ONEOK common stock. Under the agreement, each outstanding common unit of EnLink that ONEOK does not already own will …
ConocoPhillips announces $4 billion cash tender offer
A $4 billion cash tender offer was announced this week by ConocoPhillips as it attempts to sell the debt securities of Marathon Oil Corporation, the firm it just acquired. The offer by ConocoPhillips Company, a wholly-owned subsidiary of COP included “any and all of Marathon Oil Corporation’s debt securities.” Any and All of the …
Little change in shale basin drilling
Of all of the reported drilling activity in the nation’s shale basins, the biggest change in the past week occurred in the Granite Wash of western Oklahoma and the Texas Panhandle. The count, according to Baker Hughes inceased two to 5 active rigs. Otherwise, the nation’s drilling activity in the basins declined by one …