** At the U.N. Climate Change Conference on Tuesday, Rep. Alexandria Ocasio-Cortez, D-N.Y., said that “America is back” as a leader on climate change and predicted that the Biden administration’s Build Back Better plan and its wide-ranging climate provisions would soon be passed into law. ** The U.S. government projected that the global oil market will become oversupplied and …
Tesla’s $1.1 billion car plant going up in Austin
Elon Musk isn’t wasting much time in putting up his Tesla electric vehicle factory just east of Austin, Texas. Pictures show how quickly construction moved since Musk announced his selection of Austin last year to be the site of the new EV plant. That’s how work began along
Crude oil makes big return to higher levels
Crude oil prices took a major hike in Tuesday’s trading settling at more than $84 a barrel in the US and nearly $85 in Europe. West Texas Intermediate crude for December delivery rose $2.22 to $84.15 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for January delivery increased …
Improved earnings for SandRidge Energy
SandRidge Energy reported increased third quarter net cash and also cleared itself of debt, ended all flaring activities and continued returning wells to operation. It also is exploring possible carbon capture projects. The Oklahoma City-based company reported third quarter net income of $28.6 million or 78 cents a share compared to $16.3 …
Gas developer Ascent reports growing debt in 3Q
Oklahoma City-based Ascent Resources Utica Holdings, LLC reported adjusted net income of $51 million and adjusted EBITDAX of $250 million but also a net loss of $1.3 billion for the third quarter of 2021. The company, considered one of the largest private producers of natural gas in the US is focused on acquiring, developing, …
North Dakota refinery resorted to flaring over power incident
Unexpected flaring at the Mandan Refinery in North Dakota lit up the Sunday night sky, the apparent result of the temporary loss of cooling water from the nearby Missouri River. Mandan is a city across the river from Bismarck. The Bismarck Tribune reports the incident might have been caused by an electrical issue or …
Continental to use $1.6 billion senior note offering to pay for Permian Basin acquisition
A week after announcing its $3.25 billion acquisition of more Permian Basin assets, Continental Resources announced an offering of $1.6 billion in senior notes in a move to help pay for the purchase. The company said the pricing involved $800 million of 2.268% senior notes due 2026 and $800 million of 2.875% senior notes …
Transmission line route fought by some NE Oklahomans
The final route for the $100 million Sooner-Wekiwa transmission line proposed by Transource Energy in northeast Oklahoma was recently revealed and some residents are putting up a fight. Transource is a partnership between Ohio-based AEP and Evergy and received approval by the Southwest Power Pool for the 76-mile line reported the Sand Springs Leader. …
Largest gas supplier in Arkansas expects 42% higher winter bills
Arkansas customers of CenterPoint Energy are being told they can expect the average residential bill this winter will increase by 42%. The company is the largest provider of natural gas in Arkansas and said the average bill will go from $92 a month to $131. CenterPoint has nearly 400,000 residential and commercial customers in …
Wednesday energy news headlines
** U.S. Environmental Protection Agency (EPA) Assistant Administrator for Water Radhika Fox announced the decision to move forward with environmental review of a suite of water infrastructure projects that, pending final selection, would address transborder water pollution. This action will lead to essential public health protections for San Diego County communities and stop Mexico’s pollution of …
