More than 50 U.S. power companies including Oklahoma Gas & Electric have joined forces to build a coast-to-coast fast charging network for electric vehicles along major U.S. travel corridors by the end of 2023. The National Electric Highway Coalition was announced this week by the Edison Electric Institute. Fifty EEI members; the Tennessee Valley …
Acquisitions show signs of recovery from COVID-19 pandemic
Has the oil and gas industry recovered from the COVID-19 pandemic? Judging by recent acquisitions in the Permian Basin of West Texas and southeast New Mexico, some might say it’s more than proof that it has. The Carlsbad Current-Argus reported that multiple deals valued at more than $100 million have been announced in recent …
$15 million fine over North Dakota spill
A North Dakota federal judge this week fined Summit Midstream $15 million over a discharge of 29 million gallons of produced water in 2014. The action by U.S. District Court Judge Daniel M. Traynor in Williston, North Dakota also included a three-year period of probation for the midstream company. It came after Summit Midstream …
Biden not as anti-fossil fuel as he wants us to believe
President Biden’s boastful actions of being anti-fossil fuel are far from what he wants the nation to believe. If anything, he is more supportive of the oil and gas industry than President Trump was in the first three years of his administration. That or else he is unaware of his administration’s actions. A new analysis …
Crude oil rally extended as prices climb 3% and settle above $70
The easing of concerns about the Omicron coronavirus variant and its impact on global fuel demand resulted in an extended rally of crude oil prices as they settled above $70 on Tuesday for the first time in two weeks. Oklahoma energy stocks had another strong day too. Prices rose by more than 3% and …
In September, the United States was at its lowest coal stockpiles since 1978
The government reported that coal stockpiles at electric power plants in the U.S. in September were at their lowest level since March 1978. The U.S. Energy Information Administration reported the total was 80 million tons. As U.S. coal plants have retired and remaining plants are used less, the country’s total coal stockpiles have declined. In …
Oklahoma revenues grow thanks to increased oil and gas production
For a fourth consecutive month, Oklahoma’s gross production tax revenue from oil and gas was more than $100 million. Entering the holiday season, all major revenue streams in November rose by at least double digits, pushing Oklahoma Gross Receipts to the Treasury up by almost one-fourth compared to the prior year, State Treasurer Randy McDaniel …
Ardmore to be home to Australian hydrogen operation
Australia’s Woodside Petroleum is looking to expand its growing hydrogen portfolio into the US, with plans for up to a 550-megawatt facility in Oklahoma. Woodside revealed Tuesday it had secured a lease and option to purchase 94 acres of vacant land at the Westport Industrial Park in Ardmore, Oklahoma, which will help underpin the …
Evergy’s EV plan approved by Kansas energy regulators
While Oklahoma regulators prepared to consider a statewide EV charging station plan, their counterparts in Kansas gave the go-ahead to Evergy over its proposed expanded charging station network. The Topeka Capital Journal reported the plan to promote electric vehicles in Kansas won pre-approval at a cost to ratepayers. Evergy’s transportation electrification portfolio is highlighted …
Wednesday energy news headlines
** Halliburton CEO Jeff Miller told the World Petroleum Congress this week in Houston that oil, gas underinvestment is bringing about period of market scarcity. ** Despite the company’s good year so far, Exxon’s coming pay raises for employees will come in below inflation, new reports suggest. Salaries are going to rise about 3.6% for employees who deserve …
