The latest U.S. rig report from Enverus Rig Analytics indicated the numbers were flat in the past week at 757 rigs as of March 30. The most notable week-over-week changes include three-well drops in both Appalachia (49 total) and the Gulf Coast (91). Month over month, the Permian is up 13 at 299, and …
Oil and gas to feel pain in Biden’s budget
The nation’s oil and gas industry would be hit with at least eleven tax hikes under President Biden’s Fiscal Year 2023 budget proposal that was released this week. In all, his budget includes 36 tax increases on American individuals and business totaling $2.5 trillion over the next decade. The 11 tax increases come as the U.S. is feeling …
Lankford and others push for critical mineral independence from China
Oklahoma U.S. Sen. James Lankford is behind legislation this week targeting the supply chain issues that plague the U.S. and at the same time dependency on China’s market dominance of needed minerals. He and Senators Angus King of Maine, John Corny of Texas and Mark Warner of Virginia introduced legislation to establish a secure supply chain …
Mammoth Energy keeps up political pressure on Puerto Rico
Mammoth Energy Services applied more political pressure on Puerto Rico to force the country to finish its payments of millions of dollars to the Oklahoma company. Mammoth called on members of the Financial Oversight and Management Board for Puerto Rico as they met in Washington D.C. to brief federal lawmakers. Mammoth has yet to …
Strong winds resulted in Southwest Power Pool wind energy records
Those strong winds that whipped across Oklahoma and Kansas this week did more than stir up some massive and damaging wildfires—they also helped Southwest Power Pool set multiple renewable records on March 28 and 29. The Power Pool, of which Oklahoma is a member set a renewable energy penetration record of 90.2% beating the …
Iowa legislators oppose ban on eminent domain for pipelines
Landowners and others fighting the use of eminent domain by pipeline companies are running into some opposition in the Iowa legislature where they had gone this week to ask for a ban on the practice. Some Republican lawmakers are against such a ban reported the Iowa Capital Dispatch. Click here for Iowa Capital Dispatch
US and World energy headlines
** President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia …
Crude prices rose over soured negotiations in Ukrainian war
Skepticism took control of oil prices as negotiations soured to end the fighting between Russia and Ukraine on Wednesday. Prices also rose upon the release of U.S. government data showing a weekly drop in crude inventories. West Texas Intermediate crude for May delivery rose $3.58 or 3.4% to close at $107.82 a barrel on …
Another STACK producer for Ovintiv
Houston-based Ovintiv continues its run of big producing STACK wells in Oklahoma. A recent completion report filed by the company revealed a well drilled in Canadian County near Okarche had production of more than 1,500 barrels of oil a day. The Peters 1407 3h-15x, located about 3 miles southeast of Okarche at 15 14N 7W was completed …
Rep Hern says Biden’s budget is a continuation of his attack on US energy industry
Oklahoma congressman Kevin Hern sees President Biden’s budget proposal to Congress for fiscal year 23 as another attack on the energy industry. “The Biden Administration began their attack on American energy on Day 1. Today’s budget announcement continues that war, ensuring prices at the pump continue to rise and further increasing our dependence on …
