After OPEC+’s announcement to cut crude oil production by 2 million barrels a day, it not only angered President Biden and his Democratic followers, but prompted Oklahoma Congressman Markwayne Mullin and other Republicans to urge the White House to correct its war on U.S. oil and gas. He joined Rep. Steve Scalise, R-La., and …
Oil and gas money to fund Biden’s latest project
As much as he wants to eliminate oil and gas production in the U.S., President Biden apparently has no qualms about taking its money to run his government projects. The latest example is in Colorado, where on Wednesday, the President announced the formal creation of the Camp Hale-Continental Divide National Monument—one dedicated to the …
Crude oil prices and OK energy stocks fell for 3rd day
For a third straight day in the trading week, oil futures dropped as worries about rising interest rates and a recession continued fueling the concern of investors. Oklahoma energy stocks had the same kind of day. West Texas Intermediate crude for November delivery suffered a drop of $2.08 per barrel or 2.33% to settle …
Regulators say OKC’s lawsuit over franchise fees and winter storm bonds is wrong
The Oklahoma Corporation Commission responded this week to a constitutional challenge by Oklahoma City of the Commission’s decision that puts millions of dollars in franchise payments from utilities up in the air. In a filing with the State Supreme Court, Corporation Commission attorneys defended the decision that came as part of winterization bonds under …
Higher home-heating bills expected this winter
If you’re still wondering about your upcoming home heating expenses in the approaching colder weather, the U.S. Energy Information Administration has the answer. You can expect to pay more! The EIA came out Wednesday with its Winter Fuels Outlook which follows: In our Winter Fuels Outlook, we forecast that average household expenditures for …
Williams 3Q report coming soon
Williams plans to announce its third-quarter 2022 financial results after the market closes on Monday, Oct. 31, 2022. The Tulsa-based company’s third-quarter 2022 earnings conference call and webcast with analysts and investors is scheduled for Tuesday, Nov. 1, 2022, at 9:30 a.m. Eastern Time (8:30 a.m. Central Time). A webcast link to the conference …
Devon acquisition among top 3Q deals
A summary of third-quarter upstream merger and acquisition activity released by Enverus Intelligence Research shows Devon Energy’s recent $1.8 billion acquisition in South Texas was one of the largest of the quarter. The release by Enverus showed upstream deals in the U.S. reached more than $16 billion in transacted value during the quarter for …
Proposed new crude oil refinery considered at Cushing
Already the home of the well-known Cushing Hub, the city of Cushing is in the running for a proposed $5.5 billion crude oil refinery planned by Prairie Energy Partners, a wholly owned Texas company of Southern Rock Energy Partners. The other possible site for the project, one that is close to being …
Fight over proposed turnpike goes to Supreme Court
The Oklahoma Supreme Court is where an open meeting violation claim has gone involving the Oklahoma Turnpike Authority. Fox 25 News reported the case is part of the fight by some Norman residents against the Authority’s plans for a new turnpike that would go through Cleveland County. It boils down to a fight over …
Land Commissioner race results in fight over leases to oil and gas industry
New Mexico’s political race for commissioner of public lands has turned into a debate over how much state land should be used for more oil and gas development—drilling that has sent huge sums of revenue into the state treasury. The amount of land leases for oil and gas drilling under the administration of Democratic …
