Crude prices settled Thursday afternoon back below $100 a barrel after hitting $105 hours after the Russian invasion and military attack against Ukraine. West Texas Intermediate crude for April delivery rose 71 cents to finish at $92.81 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for May delivery …
Drilling firms fined over increased seismic activity in New Mexico
More than $2 million in fines have been levied by New Mexico against two companies for violating their permits for wastewater injection wells—violations that were reportedly linked to increased seismic activity in the Permian Basin. Mewbourne Oil Company and XTO Permian Operating were fined by the New Mexico Oil Conservation Division reported The Associated …
Russia’s war against Ukraine will impact Oklahomans
Russia’s invasion of Ukraine might seem to be a world away, but in reality, the violent and deadly attack launched Wednesday night will impact Oklahomans. Oil traded at $105 a barrel in London as of Thursday morning and it will eventually translate into higher prices at the pump—yes even in Oklahoma. Oklahoma drivers will …
Enverus reports rig growth across the U.S.
New figures from Enverus Rig Analytics show not only a national rig count increase but growth in the Anadarko Basin. They also reveal Chesapeake Energy is among the most active operators in Louisiana, home to the Haynesville shale play. The U.S. rig count increased by four in the last week to 737 as of …
Coterra to be cautious about exploration in 2022
While Coterra Energy, the company that came out of the merger between Cabot Oil & gas Corporation and Cimarex Energy Co., reported strong fourth quarter and full-year 2021 financial and operating results, leadership plans to keep a tight rein on exploration projects in 2022. Other energy companies are doing the same even with oil …
Earnings grew in 4Q and all of 2021 for OGE
Oklahoma Gas and Electric, the company at the center of a Supreme Court fight over its securitization efforts to cover Winter Storm Uri costs in 2021 released its fourth quarter 2021 financial results on Thursday. The company said its 2021 earnings were $3.68 per diluted share compared to 87 cents in 2020. Fourth quarter …
ONE Gas expects 4Q momentum to carry well into 2022
Fourth quarter and full year 2021 financial results for ONE Gas were stronger in comparison as the Tulsa-based firm announced diluted earnings per share of $1.12 for the quarter and $3.85 for the year. Did earnings “skyrocket”? No, but they definitely grew both for the quarter and the full year. Fourth quarter 2021 net …
More growth reported by Chesapeake Energy in 4Q
Chesapeake Energy unveiled its fourth quarter earnings report this week showing that like other energy firms, the Oklahoma City-based company had a good quarter. It reported net cash from operating activities of $563 million leaving Chesapeake with an unrestricted cash balance of $905 million. Net income totaled nearly $1.4 billion or $11.13 per diluted …
Kansas leader wants faster price gouging probe from last year’s storm
Price gouging from the 2021 Winter Storm Uri in Oklahoma. It’s what some have called on Attorney General John O’Connor to hastily carry out and now in Kansas, a similar call is being made. Lynn Rogers, the state treasurer in Kansas says Attorney General Derek Schmidt’s probe is too slow and sending the wrong …
Other energy headlines
** The U.S. Supreme Court agrees to hear a case brought by West Virginia and 18 other states that challenges the EPA’s ability to issue regulations to curb carbon emissions from fossil fuel-fired power plants. ** The U.S. Postal Service finalized plans Wednesday to purchase up to 148,000 gasoline-powered mail delivery trucks, defying Biden administration officials’ objections that the …
