Nearly six years after Hurricane Maria hit Puerto Rico and Oklahoma City-based Mammoth Energy Services won millions in contracts to restore power, the company is demanding payment from the federal government. The company announced this week its wholly owned subsidiary Cobra Acquisitions, LLC, the firm that performed the power restoration, submitted a certified …
Manchin targets EV tax credits
If West Virginia U.S. Sen. Joe Manchin gets his wish, the Biden administration’s plan for $7,500 EV tax credits will be put on pause. It was a month ago when the Democrat, who’s been at odds with President Biden, urged the Treasury Department to delay the implementation of the tax credits. Then this week, …
New Gulfport Energy CEO on the job this week
Details of Gulfport Energy’s hiring of John Reinhart as the Oklahoma City company’s new Chief Executive Officer were revealed this week in a filing with the Securities and Exchange Commission. As part of his agreement to become CEO effective Jan. 24 of this year, Reinhart will be paid an annual salary of $785,000 and …
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** A New Mexico legislative panel advanced a bill Monday that would help local governments plan in advance for climate-related threats to public health such as wildfires, flooding, extreme heat and rapid erosion. The help would be in the form of grants up to $250,000. ** Florida Chief Financial Officer Jimmy Patronis blocked asset managers …
Permian Basin operator expands operations
Another major acquisition in the Permian Basin was revealed this week by Permian Resources Corporation, a firm that extended its operations from West Texas into the New Mexico side of the oil-rich region. The company announced it had purchased 4,000 leasehold acres and 3,300 royalty acres in Lea County in a $98 million deal …
Devon Energy’s latest producers in Oklahoma’s Blaine County
Devon Energy has found a highly producing area of oil in a Blaine County area, reporting three more significant wells in the region where it had previously finished other big producers. Three Devon Energy wells drilled on the same Blaine County pad produced 1,850 barrels of oil a day when they were completed in …
Blackrock’s investments in another Oklahoma energy company
A required filing with the Securities and Exchange Commission shows Blackrock Inc. is a major investor in a third Oklahoma energy company in addition to ONEOK and ONEGAS. A filing by Williams Cos. showed the New York-based company owns 9.9% of the company’s publicly traded shares. It totals 110,124,139 sole voting power shares out …
OGE alerts customers to higher monthly fuel costs
Even as one Oklahoma Corporation Commissioner is publicly challenging the fuel adjustment costs of the state’s major public utilities, Oklahoma Gas & Electric tells its customers their monthly fuel charges will increase this month. OG&E notified customers in their monthly bills that they can expect to see an increase of 4.8% to the fuel …
Regulator challenges utilities over fuel adjustment costs
Oklahoma Corporation Commissioner Bob Anthony raised the stakes for the state’s three major utilities as they seek 2021 fuel cost adjustments. At the same time, he issued a challenge to his two fellow commissioners. In a filing this week, the commissioner raised questions about the costs of Oklahoma Natural Gas, Oklahoma Gas & …
A 2% fall for crude oil prices while OK energy stocks had a mixed day on Tuesday
Growing concerns about a global economic slowdown led to a nearly 2% drop in crude oil prices Tuesday, both in the U.S. and overseas. As a result, Oklahoma energy stocks were mixed with some losing up to 8% while others gained 7%. The expected build in U.S. oil inventories, something noted last week in …
