After selling its Delaware Basin assets to Oklahoma City’s Continental Resources in a $3.25 billion deal, Pioneer Natural Resources indicated it will minimize its hedging in the coming year. Reuters reported Pioneer’s Chief Executive Officer anticipates oil prices to be between $80 and $100 a barrel in the next several years. Click here for …
Midwest governors seek authority to let E15 be sold year-round
Eight Midwest Governors want the Biden administration to let gasoline with a 15% ethanol blend be sold year-round in their states. Their request comes after a federal appeals court last summer struck down a 2019 rule allowing year-round E-15 sales nationally reported Radio Iowa. The letter was signed by Govs. Kim Reynolds of Iowa, …
Cheniere awaits approval of LNG expansion
Natural gas exporter Cheniere Energy is moving closer to an expansion of its ability to turn more Oklahoma natural gas into LNG for shipment overseas—perhaps aiding European and Asian countries with depleted inventories ahead of winter. Cheniere Energy and Venture Global LNG have inked five deals in the past five weeks to bring 9.2 million …
Another big tumble for crude oil prices and OK energy stocks
For a second consecutive day, crude oil prices across the globe took a deep slide, falling more than $2 a barrel in the US even as OPEC and its allies agreed Thursday to stay with plans to raise oil output by 400,000 barrels a day from December. Oklahoma energy stocks didn’t respond well with …
Enverus report shows increased rig counts in US and Oklahoma
The weekly Enverus Rig Analytics report showed an increase of rigs in the U.S. in the past week including in the Anadarko Basin which saw 2 additional rigs. Nationally, numbers increased by 8 to 652 as of Nov. 3 reported the company based in Austin, Texas. The count is up by 4% in the last …
Devon leaders expect bigger earnings from Permian and Anadarko Basins
“Devon’s third quarter results were outstanding.” Rick Muncrief With that statement, Devon Energy’s CEO Rick Muncrief summed up the third quarter results for the Oklahoma City-based oil and gas company. Devon’s earnings totaled $844 million in the quarter compared to $92 million last year while earnings per share were $1.24, up from the …
Energy headlines for Friday
** Democrats in the U.S. House of Representatives released an updated social spending and climate measure on Wednesday that expands a proposed $12,500 tax credit to pricier zero-emission vehicles, while lowering income limits for eligible buyers. ** President Joe Biden on Tuesday criticized Chinese leader Xi Jinping and Russian President Vladimir Putin for skipping the United Nations …
Lucas on Dems reconciliation—irresponsible at best
House Committee on Science, Space, and Technology Ranking Member Frank Lucas testified at a House Committee on Rules hearing in opposition to the Democrats’ reconciliation package, emphasizing partisan tactics, rushed policies, and trillions in spending that “is irresponsible at best, and a dereliction of duty in this time of growing federal debt and rising inflation:” “The …
3Q results show improved earnings for OGE Energy Corp.
OGE Energy Corp., the parent company of Oklahoma Gas and Electric Company, and holder of 25.5 percent limited partner interest and 50 percent general partner interest in Enable Midstream Partners LP reported earnings of $1.26 per diluted share for the three months ended September 30, 2021 compared to earnings of $0.89 per diluted share for the third quarter of 2020. Here’s …
Improved quarterly finances for Cactus
Cactus, Inc. reported a 6% increase in its third quarter revenue which totaled $115.4 million for the Texas-based drilling and manufacturing company. With operations in Oklahoma and other oil and gas states, the Houston firm reported third quarter net income of $17.2 million and adjusted net income of $14.7 million and diluted earnings per …
