A 26% increase in net income to $392 million and 88 cents a share dividend for ONEOK Inc in the third quarter prompted the company to increase its guidance for the remainder of the year. ONEOK’s big jump in earnings compared to the third quarter 2020. The company reported a 16% increase in …
Crude oil prices slip in US and remain steady in Europe
While the world’s leaders talked global climate change in Glasbow, Scotland, crude oil prices dropped in the US and barely managed to hold even in Europe. Oklahoma energy stocks struggled during the day. West Texas Intermediate crude for December delivery dropped 14 cents or 0.17% to $83.91 a barrel. Global benchmark Brent crude for …
Cash flows to record amounts for Devon Energy
Devon Energy’s third quarter earnings were so strong, the company said it intends to offer a $1 billion share buyback as a result of the markedly improved quarter. The company’s net earnings were $838 million or $1.24 per diluted share for the quarter and adjusted core earnings were $733 million or $1.08 per share. …
Turnaround made by ConocoPhillips
From a third quarter 2020 loss of $0.5 billion and 42 cents a share to earnings of $2.4 billion and $1.78 in the third quarter of 2021—it’s what ConocoPhillips reported this week. What a difference a year made for the Houston-based company with many connections to Oklahoma. The company announced that excluding special items, …
Rep. Lucas critical of Biden’s methane emissions rules
“Heavy handed regulatory approach” and “unnecessary government mandates,”—-it’s what Oklahoma Congressman Frank Lucas calls the Biden administration’s new proposed methane emissions regulations that came out Tuesday. As the ranking Republican on the House Committee on Science, Space, and Technology, Rep. Lucas said the new methane rule is simply a burden on America’s smaller domestic producers. …
Massive solar farm planned at Kansas City’s airport
Kansas City unveiled plans to build a 2,000-acre solar farm at the Kansas City International Airport making it one of the largest such installations in the nation. The City Manager says it’s not a question of if but how the city is going to proceed reports KCUR radio. Click here for KCUR Radio report. …
Energy headlines for Wednesday
** The refusal of OPEC+ to increase crude oil production is affecting America’s working class, President Biden said at a news conference following the G20 meeting in Rome. The comments made by the U.S. President were later the same day echoed more bluntly by Energy Secretary Jennifer Granholm, who directly blamed the OPEC cartel for keeping …
Aircraft workers defy Biden’s vaccination order
Thousands of aircraft manufacturing company employees in Kansas know December 8 is a critical date. They stand a chance of losing their jobs if they fail to meet President Biden’s executive order that requires all contractor employees be fully vaccinated against COVID-19. Yet it is reported that nearly half of the approximately 10,000 employees …
Biden unveils his methane rules in Scotland
Oil and gas producers in Oklahoma and other states were probably not surprised at President Biden’s Tuesday announcement of more restrictions in the form of new policies to limit methane gas leaks from wells and pipelines. They knew it was coming. He used the United Nations-sponsored COP26 climate change summit in Glasgow, Scotland to …
Cost and carbon footprint of Glasgow climate summit
While the world’s leaders, including President Biden gathered this week in Glasgow, Scotland for their climate summit, back in the states, Wyoming U.S. Senator John Barrasso had some pointed questions. He wanted to know how many White House and Biden administration staffers were on hand for the2-week 2021 United Nations Climate Change Conference, the carbon …
