Indicative of what is happening to the crude oil supply in the U.S., the amount in storage at the Cushing hub in Oklahoma fell again in the past week. The U.S. Energy Information Administration reported 23,778 million barrels of oil are on hand at the northern Oklahoma hub. That’s a decline of 2,049 barrels …
Approval expected on $2 billion more in winter storm cost debts
While the Oklahoma Supreme Court is being asked to approve nearly $1 billion in bond securitization for Oklahoma Gas and Electric over the 2021 February winter storm, a state agency will meet Tuesday to consider $2.2 billion in winter storm bills from three more utilities. The Oklahoma Development Finance Authority rescheduled its meeting following …
ONE Gas to grow its renewable natural gas projects
ONE Gas leaders in Oklahoma say the company is expanding its projects involving renewable natural gas. At a recent conference call, they discussed some of the company’s 22 projects for RNG. Their expansion came after a study identified 175 Mcf of potential renewable gas feedstock across the company’s operations in Oklahoma, Kansas and Texas …
BP fights small Kansas town’s price-gouging lawsuit
The residents of the small Kansas town of Mulberry are taking on global energy titan BP, suing the company over the 2021 winter storm and accusing it of price-gouging—and the giant is fighting back. BP wants to appeal a recent Crawford County district judge’s ruling that allows the town’s lawsuit to proceed reported the …
Another step in 16 year fight between Mewbourne Oil and Oklahoma regulators
Oklahoma’s Supreme Court has ruled against Mewbourne Oil Company in a nearly 16-year battle with the Oklahoma Corporation Commission, a fight over forced pooling of mineral interests in the state, intrinsic fraud and monetary damages. “Application to assume original jurisdiction is denied. All justices concur,” read the order issued earlier in February. Mewbourne sued …
How a snowball plays a role in Sen. Inhofe’s legacy
Long after Oklahoma U.S. Sen. Jim Inhofe is gone from Congress, he will still be remembered for the day he brought a snowfall onto the floor of the U.S. Senate to make his point against the global warming movement. It was 2015 and the Republican Senator, who was famous for denying that climate change …
Lankford says Biden needs to cut off the spigot to Russia’s oil and gas
While the U.S. continues receiving crude oil from Russia during Russia’s invasion of Ukraine, Oklahoma U.S. Sen. James Lankford says it’s time to stop the flow of oil into the U.S. Interviewed recently on Newsmax’s Eric Bolling The Balance , Sen. Lankford said the U.S. response should be clear. He says the U.S. should return to …
We’re still importing Russian crude oil
Even as the U.S. voices extreme criticism of Russia’s invasion of Ukraine, the U.S. is still importing oil from? Russia. More than 12 million barrels of crude oil from Russia are already on their way to the U.S. aboard two dozen ships. Oil-analytics firm Vortexa expects it to arrive next month. reported Bloomberg. Click …
Will AG intervene in OGE bond and rate case before Supreme Court?
Oklahoma Attorney General John O’Connor has until Tuesday, March 1 to decide if he will intervene in the OG&E’s nearly $1 billion bond and rate case before the state supreme court. Chief Justice Richard Darby, in a Feb. 16, 2022 order, extended the offer allowing O’Connor to intervene in the ratepayer bond case filed …
Devon and Marathon Oil’s big producers in the STACK and SCOOP
Oklahoma STACK and SCOOP plays yielded some big producers in recent months for Marathon Oil and Devon Energy. Based on today’s crude oil prices, two of those wells theoretically would produce more than $7 million a month—if their production continued on the rate they did initially. In the SCOOP, Marathon Oil came up with …
