In an apparent move to avoid a financial catastrophe for his company, Texas-based Telllurian’s Executive Chairman Charif Souki sold more than $25 million in shares to cover a loan. Securities filings confirmed the transfer and sale of Souki’s shares as collateral for a 2017 loan for real estate investments according to Reuters. It reported the …
Fast reads of other energy stories
** Nearby residents were asked to shelter in place after a Norfolk Southern train derailed near a highway in the Springfield, Ohio, area on Saturday. Norfolk Southern confirmed in a statement to CBS News that 20 cars of a 212-car train derailed. The railway company said there were no hazardous materials aboard the train, and …
Corporation Commissioner says Kansas lawsuit over winter storm gas validates his suspicions about Oklahoma’s rates
Citing a $50 million lawsuit filed by the Kansas Attorney General against an energy company for manipulation of natural gas markets during the February 2021 winter storm, on Thursday, Corporation Commissioner Bob Anthony filed a deliberations statement in the 2021 fuel cost review cases for ONG, OG&E and PSO, saying his repeatedly-dismissed suspicions about …
Bill wins approval in Senate committee to change Oklahoma’s electric utility regulations
Oklahoma Senate leader Greg Treat’s bill to make sweeping changes to electric utility regulation in the state won approval Thursday in committee. The Senate Energy and Telecommunications committee voted 10-2 in support of the bill which will be sent to the full Senate for consideration. The two “no” votes were made by Sen. Mary …
Tulsa’s historic Greenwood District to no longer be divided by I-44
A project to remove part of I-44 that divides Tulsa’s historic Greenwood District and allow for more community growth will be announced Friday. Tulsa Rep. Regina Goodwin will join Cody Brandt of Tulsa STEPS and Dr. Warren Blakney, Pastor of North Peoria Church of Christ in making the announcement of a $1.6 million grant …
Short energy reads
** Democrats’ witness at a House Natural Resources Committee hearing Tuesday blasted supporters of the Inflation Reduction Act (IRA) last year for “permitting a climate apocalypse.” John Beard, Jr., the founder and president of the Texas-based Port Arthur Community Action Network, particularly criticized the IRA for several provisions that open up millions of acres of federal land and …
Crude prices and OK energy stocks recorded gains on Thursday
Crude oil prices went up about a half percent in Thursday’s trading and some Oklahoma energy stocks scored well too. Why the slight gain? It was due to signs of a strong economic rebound in top crude importer China according to Reuters. West Texas Intermediate crude futures rose 47 cents or 0.6% to close …
Growing focus on wind turbine blade graveyards
The growth of wind farms across the nation, including Oklahoma, the second-highest wind power state in the country, created a problem —how to dispose of the old turbine blades that have a life-span of about 20 years. A study made a few years ago and published in the Waste Management scientific journal claimed an …
Oklahoma to learn soon whether “mystery” company chooses the state for a plant
With another mystery company, possibly Volkswagen, ready to announce its choice for a large electric vehicle battery manufacturing site yet this week, the Oklahoma legislature moved quickly to approve a $698 million economic incentive package. It’s the same kind of move made last year by the state in a failed effort to land a …
Exxon admits error over massive methane leak in the Permian Basin
Exxon Mobil Corp. made a big “my bad” admission this week, saying yes, it failed to report a Permian basin greenhouse gas methane leak discovered by a third-party satellite image. The early February incident was a violation of state rules in New Mexico according to Bloomberg. Exxon explained it discovered and repaired the leak in …
