Empire Petroleum tripled revenue in 2Q

How good was the second quarter for Empire Petroleum? The company announced its quarterly revenue report this week showing revenue from oil, natural gas and natural gas liquids sales was $16.5 million, triple the $4.9 million revenue reported in the 2021 second quarter. The Tulsa-based company reported net income was $5.5 million compared to a …

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Legislator proposes drought aid to Oklahoma farmers and ranchers

  Rep. Justin Humphrey, R-Lane, said he is considering proposing legislation that could be brought forward in the House’s current special session to assist Oklahoma farmers and ranchers in the current drought. “Previously, in times of serious drought, Oklahoma’s government has stepped in and assisted ranchers with shipping hay,” Humphrey said. “During Oklahoma’s last serious …

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From around the U.S. and the world—other energy headlines

** Although the Inflation Reduction Act (IRA), which passed the House of Representatives on Friday, will be by far the largest federal action ever taken to confront climate change, it will fall short of the U.S.’s pledge in the 2015 Paris climate agreement to cut greenhouse gas emissions by 50-52% from 2005 levels by 2030. ** Al Gore’s …

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Governor names longtime government energy leader to be Oklahoma Energy Secretary

  Governor Kevin Stitt announced the appointment of Ken McQueen to serve as Oklahoma’s Secretary of Energy and Environment following the resignation of Ken Wagner effective September 3, 2022. “Ken McQueen’s forty years of experience in energy and environmental policies make him an invaluable asset to our administration,” said Governor Stitt. “I am excited to work with …

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Act targets stock buybacks employed by numerous Oklahoma energy firms

By Jerry Bohnen   I first heard of the tax on stock buybacks as I drove down old Highway 36 in northern Colorado. I had just passed one of those “F— Biden” flags attached to farm machinery parked in a remote and dry farm field next to the highway. You know the kind. The only …

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Dallas is possible site for major new solar manufacturing plant

  Dallas could become the site of a major new solar-industry manufacturing plant. Hanwha Q Cells is considering Dallas County as the site for a massive new facility reported Bloomberg. Dallas is one of the sites in addition to others in Georgia and South Carolina. Click here for Bloomberg

Oil drops below $90 in U.S. while OK energy stocks lost ground

  U.S. crude oil prices on Monday dropped below $90 for the first time in more than a week. What was behind the drop? Reuters attributed the decline to news that China’s July refinery output was the lowest since March 2020 as well as a stronger U.S. dollar and low liquidity pressure prices. West Texas …

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U.S. House Committee hearing in OKC to explore energy production

  Congressman Markwayne Mullin plans to moderate a panel discussion Wednesday in Oklahoma City held by the House Permanent Select Committee on Intelligence focused on how America can become a world leader in energy production. The American Petroleum Institute and the Petroleum Alliance of Oklahoma are also sponsors of the event designed to help shape …

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New Mexico oil and gas group launches fight with EPA over Permian Basin crackdown

  The New Mexico Oil and Gas Association has responded to the EPA’s proposed tougher regulations on the Permian Basin where Oklahoma oil and gas companies have major drilling and production operations, with a call to fight the government agency. “The EPA is threatening new regulations that would reduce energy production in the Permian Basin,” …

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Governors oppose nuke storage without state approval

  A group of governors from across the American West signaled their disapproval of storing spent nuclear fuel in their states without their consent, as two companies plan to do so in New Mexico and Texas despite opposition voiced by both states. Click here for Las Cruces Sun News