Wednesday’s trading produced another increase in crude oil prices as the benchmark U.S. crude settled close to $78 a barrel while overseas, the price was closer to $81. But Oklahoma energy stocks recorded losses for the day. The increase in prices came after U.S. fuel inventories rose because of a slipping demand as COVID-19 …
Native tribal leaders challenge two federal actions in New Mexico
Native American leaders challenge the U.S. government in two energy areas of concern in the state of New Mexico. In one case, Navajo Nation President Jonathan Nez is concerned that the Biden administration’s proposed oil and gas leasing freeze around the state’s Chaco Culture National Historical Park would harm Navajo mineral rights owners. In another …
Feds back Ameren’s move to retire coal plant early
The U.S. Justice Department argues in recent court filings that Ameren should close a large Missouri coal plant sooner than 2024, accusing the utility of engineering a “drawn out” plan to close the facility. The St. Louis Post-Dispatch reported the electric utility offered to close the giant Rush Island Energy Center in Jefferson County by March 2024. …
4Q results from Devon to be announced in February
Oklahoma City-based Devon Energy announced it will report fourth-quarter and full-year 2021 results on Tuesday, Feb. 15, after the close of U.S. financial markets. The earnings release and presentation for the fourth-quarter and full-year 2021 results will be available on the company’s website at www.devonenergy.com. On Wednesday, Feb. 16, the company will hold a conference call …
Citizen Energy’s Canadian County drilling efforts
OK Energy Today reported earlier this week that Tulsa-based Citizen Energy III LLC had plans for a 3-well single pad project in Canadian County but new documents show it is actually a 4-well project on the site. A late drilling permit issued by Oklahoma regulators indicated Citizen Energy received approval to drill the NOWLIN #1H-21, …
Slight increase in Oklahoma gasoline prices
While the national average is $3.29 for a gallon gasoline, the American Automobile Association reports gasoline prices in Oklahoma rose 3 cents in the past week to a new average of $2.90 per gallon. The new statewide average compares to $2.93 a month ago and $1.99 one year earlier. The highest average in the …
Crude oil and gasoline prices increased in 2021 as demand growth outpaced supply growth
From the U.S. Energy Information Administration: The Brent crude oil price increased from 2020 to average more than $70 per barrel (b) in 2021 as global demand for petroleum products increased faster than production, leading to global inventory draws. Nominally (not adjusted for inflation), the annual average crude oil price reached its highest level …
Chevron gives aid to Boulder County wildfire victims
Chevron Corporation announced it is making a commitment of $250,000 to support relief efforts underway in the communities affected by the Boulder County wildfires. “As a leading employer and partner in several Colorado communities, Chevron is committed to helping the region and our neighbors rebuild, recover and heal from the impact of the wildfires,” …
Florida gets first LNG service station thanks to Pickens’ company
Clean Energy Fuels, the natural gas company co-founded by the late Texas billionaire T. Boone Pickens planned to unveil Florida’s first filling station for vehicles running on liquid natural gas on Wednesday. The Florida Times-Union report it will be the state’s only such facility and one of 150 such stations in the U.S. Click …
Insurance companies sue ERCOT over February winter storm
ERCOT, the Texas power grid operator was sued by more than 100 insurance companies over loss3es and property damage from the February winter storm. Filed in Travis County District Court, the lawsuit charged the Electric Reliability Council of Texas and 37 different power generating entities were “at fault” for the massive energy failure reported …
