At least three multibillion-dollar pipelines are planned across Iowa, all with the intent of moving carbon dioxide to be stored underground. As The Des Moines Register reported, all are controversial and met with opposition. Click here for Des Moines Register
Headlines of other energy stories
** Rep. Henry Cuellar (D-Texas) on Sunday pushed for more oil drilling in the U.S., saying the nation needs to be “energy independent” as gas prices rise. Cuellar, a moderate Democrat facing a May 24 runoff primary challenge in his Texas district, also said President Biden’s administration is “not helping Democrats.” ** Union Pacific (UNP) reported better than expected …
BLM withholds 135,000 acres in Colorado for oil and gas leasing
The Bureau of Land Management is withholding more than 135,000 acres of federal land for resumed oil and gas leasing in the interest of protecting greater-sage-grouse. The BLM says 5,276 acres will be included in the sale of oil and gas leases but wants to defers plans to lease the 135,000 acres while it …
Not much change in Oklahoma and US rig counts
Rig activity across Oklahoma and the U.S. didn’t see much of an increase in the past week according to Baker Hughes. Oklahoma was unchanged at 51 rigs while the U.S. numbers increased only two to 695 oil and gas rigs. The number of oil rigs grew by one to 549 while the number of …
Cypress Environmental lands financial rescue
A lifeline was thrown to financially struggling Cypress Environmental Partners, L.P., the firm that publicly expressed concerns it might have to financially reorganize if it didn’t get help from its lenders over its more than $58.1 million debt. The Tulsa-based company announced its senior secured debt with seven existing lenders was acquired 100% by …
Raytheon’s overpayment on taxes to be refunded
The Oklahoma Supreme Court reversed a decision by the Oklahoma Tax Commission ordering it to make a more than $321,000 refund to defense contractor Raytheon because of a mistaken tax overpayment. The decision stems from Raytheon’s 2012 tax payments of $626,965 due on March 15, 2013. Raytheon discovered an accounting error in an overpayment of …
LyondellBasell announces plans to exit refining business
LyondellBasell says it’s getting out of the refinery business and will cease operation of its Houston Refinery no later than December 31, 2023. In the interim, the company said it will continue serving the fuels market, which is expected to remain strong in the near-term, and consider potential transactions and alternatives for the site. “After …
Laredo Petroleum proposed increase in shares
Tulsa’s Laredo Petroleum is asking shareholders to allow an increase in corporate shares to 40 million. In another proxy statement filing Friday with the Securities Exchange Commission, the company said the Board of Directors wanted to increase company shares from the current 22,500,000 and that the request was “routine.” The company’s scheduled annual meeting …
Crude prices slipped on Friday and took OK energy stocks with them
Crude oil prices closed the week with a drop following renewed diplomacy over Russia’s bloody invasion of Ukraine. They ended with a nearly 4% drop for the week, caused by a number of things including weaker global growth, COVID-19 lockdowns in China, and of course, the war in Ukraine. West Texas Intermediate crude …
Other US and world energy headlines
** President Biden commemorated Earth Day on Friday by unveiling a raft of new policies to combat deforestation, including the signing of an executive order that safeguards old-growth forests on federal lands. ** More than 80 percent of oil and gas well completions in the United States were horizontal or directional in 2021, and although the total number …
