After rebounding with an increase of crude oil in late December, the amount of crude held in storage at the Cushing hub fell again as of January 7 reported the federal government. A report from the U.S. Energy Information Administration showed the amount of crude stored in Cushing fell to 34,838,000 barrels of oil. …
House science committee Republicans angered a NASA bill was hijacked by Dems
House Science, Space, and Technology Committee Ranking Member Frank Lucas was joined by Space & Aeronautics Subcommittee Ranking Member Brian Babin and Rep. Young Kim in criticizing House Democratic leadership for stripping bipartisan NASA policy from H.R. 5746 and replacing it with legislation to attempt to seize control of elections from states. “The majority has taken a …
Nation’s rig count drops reports Enverus
The U.S. rig count fell by nine in the last week to 696 as of Jan. 12, according to Enverus Rig Analytics. The number of rigs running is up by 1% in the last month and 72% YOY. The largest week-over-week declines by region were in the Permian (minus nine to 266), Gulf Coast …
OU, OSU partnerships and OERB provide grants for Oklahoma schools
The people of Oklahoma Oil & Natural Gas have selected two schools to receive a grant for their science and math programs. Through the Oklahoma Energy Resources Board, the industry partnered with both the University of Oklahoma and Oklahoma State University to donate $10 for every point they scored during the regular football season …
EIA expects gasoline and diesel prices to fall in 2022 and 2023 as demand growth slows
The federal government came out this week with a prediction that gasoline retail prices will increase in 2022 before falling to an average of $2.80 a gallon in 2023. Oklahoma’s average this week stood at $2.97 a gallon, two cents higher than a week ago and 90 cents more than the $2.07 average one …
DOE awards funding for Oklahoma geothermal projects from abandoned wells
A University of Oklahoma geothermal project designed to provide heat for schools in Tuttle is one of four nationwide to receive up to $8.4 million from the U.S. Department of Energy. The funding will establish new geothermal energy and heat production from abandoned oil and gas wells. With this funding, DOE is partnering with existing …
OGE solicits bids for its largest solar-power effort
Oklahoma Gas and Electric Company is making a bigger push toward solar energy production, recently announcing its efforts to add up to 450 megawatts in the next three years. The company said it issued a Request for Proposals for nameplate solar energy resources to aid the utility in meeting the future generation needs of …
Record $141.8 million in revenue for New Mexico Land Office last month
Increased oil and gas production in the Permian Basin led to a record amount of revenue in December for the state treasury in New Mexico. The Carlsbad Current-Argus reports it totaled nearly $142 million and came at a time as New Mexico legislators prepare for the upcoming budget-focused 2022 Legislative Session this month. Click …
Continental’s Permian Basin acquisition one of top 4Q deals
The more than $3 billion acquisition of Pioneer Natural Resources assets in the Permian Basin by Oklahoma-based Continental Resources is considered the top upstream deal of the fourth quarter 2021 according to energy data analytics firm Enverus. Enverus released its summary of 4Q21 and full-year 2021 U.S. upstream M&A. In the second year of …
Xcel Energy South Dakota wind farm begins powering over 150,000 homes
Xcel Energy’s latest wind project went online this week in the state of South Dakota and is already offering electrical power to more than 150,000 homes in the Upper Midwest. Located in eastern South Dakota, the Dakota Range I and II Wind farm covers 44,000 acres in a region about 20 miles north of …
