$3.5 billion acquisition in the Permian Basin

The latest major acquisition in the Permian Basin involved $3.5 billion and 600,000 acres in Texas and New Mexico. Houston-based Targa Resources, an oil and gas midstream company just acquired Lucid Energy, increasing its activity in the Delaware sub-basin for at least the next 20 years reported the Carlsbad Current-Argus. Click here for Carlsbad Current-Argus

Continental shares drop again in light of Hamm’s acquisition offer

  Harold Hamm’s offer to take Continental Resources Inc. private with an offer of $70 a share, a bid that will cost him an estimated $4.4 billion in cash, is looking better following Tuesday’s close of trading on Wall Street. Continental Resources closed down 84 cents or 1.28% and settled at $66.67 a share or …

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Crude oil prices and OK energy stocks rebounded Tuesday

  Tight fuel supplies caused by sanctions on Russian oil over its invasion of Ukraine along with increased summer demand sent crude oil prices rebounding on Tuesday. Oklahoma energy stocks also saw prices go back up for the day. West Texas Intermediate crude for July delivery rose $1.09 or nearly 1% to finish at $110.65 …

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Wind energy firm in Enid could get millions in incentives

  A proposed extension of a tax district in Enid could save an energy company $14 million in taxes for storage of its wind turbine parts. Click here for Enid News and Eagle

Container shipping to grow on Oklahoma waterways?

  Expanded container shipping might grow on Oklahoma’s inland waterways. The Oklahoman reported this week how the Tulsa Port of Catoosa and Tulsa Port of Inola are looking into containerized shipping. Click here for The Oklahoman

July 4th holiday travel still expected to be high despite gasoline costs

  Whether it’s $5 a gallon gasoline or other inflationary costs, AAA doesn’t expect any record July Fourth Holiday travel in Oklahoma. But it will still be high. The travel group projects more than 510,000 Oklahoma will travel a distance of 50 miles or more over the Independent Day Holiday. Of that number, more than …

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Impact of April blizzards still felt in North Dakota

  While the Williston Herald was taking note of Harold Hamm’s bid to return Continental Resources to being a private-company rather than being traded publicly, the paper also had an update on North Dakota’s monthly oil production report. First, it should be pointed out that Harold Hamm’s oil and gas operations are quite publicly known …

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Heat to result in record electricity use at Entergy

    Record-high temperatures are reported in many states that make up the Midwest and Entergy is bracing for the impact on its ability to provide electricity. “Such high temperatures lead to customers using more electricity,” said Jason Reynolds, vice president of system planning. “When there’s a high level of demand for power all at …

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Asbestos ban and energy issues go before some in Congress

  Back to work for Oklahoma’s U.S. Representatives and Senators who had a few days off with the extended Juneteenth holiday. Sen. Jim Inhofe and others on the Senate Environment and Public Works Committee will meet Wednesday to hear from Michal Freedhoff, considered to be the Environmental Protection Agency’s point person on toxic issues. Discussion …

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Hot weather results in advisory from power grid operator

  The lingering heat wave prompted the Southwest Power Pool, Oklahoma’s power grid operator, to issue a Resource Advisory this week but it does not require consumers to conserve energy. The advisory covers SPP’s 14-state footprint and was to be effective at 4 p.m. Central Time on Tuesday, June 21 with an anticipated end at 8 …

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