This week’s Baker Hughes rig report showed a gain in the number of oil and gas rigs in Oklahoma and across the U.S. Oklahoma’s count increased by one to a total of 67 rigs. A year ago, there were only 44 active rigs in the state. Nationally, the count, reported Baker Hughes, increased by …
Election could be critical to future of oil and gas drilling in the Permian Basin
Some are suggesting this week’s election results will be one of the most important in the history of the Permian Basin. If Republicans win the U.S. House majority, they might use their power to stop the Environmental Protection Agency from declaring the Basin a non-attainment area reported The Odessa American. Click here for Odessa …
Additional energy headlines
** The U.S. Environmental Protection Agency (EPA) said it plans to issue tougher greenhouse gas emissions rules for heavy duty trucks and other larger vehicles through at least the 2030 model year by the end of 2023. ** The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic …
Catalytic converter theft ring smashed in NE Oklahoma
Federal prosecutors announced this week the arrests of 13 persons allegedly involved in a ring of catalytic converter thefts around the Tulsa area. An estimated 2,000 converters were stolen in Tulsa in the past year according to U.S. Attorney Clint Johnson. News on 6 in Tulsa reported some of the defendants are from New …
China’s continued COVID actions sent crude prices down Thursday
China’s latest COVID policy raised concerns among crude oil analysts Thursday, causing a 2% slide in oil prices. At the same time, the hike in U.S. interest rates pushed up the dollar, adding to growing fears of a global recession which would result in less demand for fuel. West Texas Intermediate crude for December …
EV manufacturer Canoo plans a second plant in northeast Oklahoma
Canoo has announced a battery module manufacturing facility at MidAmerica Industrial Park in Pryor, OK. The new facility will expand Canoo’s manufacturing and employment footprint in the region. Once ramped, the facility will be capable of approximately 3200 MWhs of battery module manufacturing capacity. “We are accelerating our hiring plans in Pryor with the establishment …
Xcel cancels hydropower project in western Colorado
Xcel Energy stunned western Colorado and probably government regulators too when it announced this week it was dropping its efforts to build a hydropower project in Unaweep Canyon near Grand Junction. The announcement came a day after the Federal Energy Regulatory Commission gave approval for a two-reservoir, pumped-storage hydropower plant reported the Colorado Sun. …
Enverus indicates growth in Anadarko Basin drilling efforts
This week’s Enverus rig count showed a 7-rig dip nationally but also indicated growth in drilling activity in Oklahoma’s Anadarko Basin. The 84 active rigs in the Anadarko Basin equal the 2022 high. A total of 49 companies are drilling wells there currently compared to 39 a year ago. Continental Resources is the most …
GAO says EPA was ‘wrong’ in its ruling against small refineries
A Government Accountability Office investigation requested in 2020 by Sens. Jim Inhofe and James Lankford and others led to a damning report this week in which the GAO concluded the EPA had no basis to deny small refineries relief from ethanol mandates. The request was made as the Wynnewood Refinery and others across the …
Marathon Oil makes $3 billion acquisition of Ensign Natural Resources
Houston’s Marathon Oil Corp., another Texas firm with major operations in Oklahoma announced the $3 billion cash acquisition of Ensign Natural Resources. Here’s what it means to Marathon—130,000 net acres (99% operated, 97% working interest) that span Live Oak, Bee, Karnes, and Dewitt Counties across the condensate, wet gas, and dry gas phase windows of the Eagle Ford. Estimated …
