Renewable energy producer Enel Green Power has launched construction on another new wind farm in southcentral Oklahoma—its 11th wind project in the state. The company announced the 140 MW Rockhaven wind project is being built in Garvin and Carter Counties and is adjacent to the Origin wind farm which Enel has operated since 2015. …
Energy news in brief
** Oil prices moved higher after the Energy Information Administration reported a crude oil inventory draw of 8 million barrels for the week to April 30. The oil inventory figure compared with a weekly draw of 7.688 million barrels estimated by the American Petroleum Institute a day earlier. ** A judge sentences two tree-sitters who defied a court order to …
Farm Bureau leader fights ’eminent domain’ for Grainbelt Express Transmission Line
The planned Grain Belt Express which is designed to carry electricity from Southwest Kansas wind farms through Missouri and to Illinois is being attacked by the President of the Missouri Farm Bureau. Writing in a Missouri newspaper, Garrett Hawkins said the use of eminent domain for the construction of the transmission line sets a very …
Oil and Gas drove big jump in Oklahoma tax revenue for April
“Oklahoma’s economy was hitting on all cylinders in April, especially compared to where we were a year ago,” proclaimed Oklahoma Treasurer McDaniel as he announced a 38% jump in gross receipts to the Treasury during the month of April. What drove it? In part, record oil and gas production tax collections along with increases in …
CenterPoint Energy—from a loss to a gain in the 1Q
After announcing the sale of its Oklahoma and Arkansas gas operations, CenterPoint Energy, Inc. said its first quarter income available to common shareholders was $334 million or 56 cents a diluted share, a big improvement over a year earlier when the company suffered a loss of $1.2 billion. On a non-GAAP basis, first quarter …
Wind farm operator’s 1Q earnings hurt by Oklahoma winter storm
The severe winter weather that hit Oklahoma in February ended up affecting financial operations of wind-farm operator ALLETE Clean Energy. The Duluth, Minnesota-based company with wind farm operations near Ardmore and Anadarko reported first quarter 2021 earnings of 99 cents per share on net income of $51.8 million. Last year’s results were $1.28 per share …
February winter storm boosted Evergy’s 1Q earnings
Kansas utility Evergy, Inc. announced its first quarter 2021 earnings were $192 million or 84 cents a share. The total was nearly three times the $69 million and 31 cents a share for the first quarter a year earlier. The harsh February winter storm was credited for the large jump in earnings. The company …
Intel invests billions to modernize New Mexico plant
Intel Corp. announced this week a $3.5 billion plan to modernize its Rio Rancho plant near Albuquerque, New Mexico where the California-based firm carries out next-generation advanced semiconductor technology research and manufacturing. Three members of New Mexico’s congressional delegation and Gov. Michelle Lujan Grisham were on hand as Intel announced 700 jobs should be added …
WTI hovers around $66 a barrel
Crude oil prices split in Wednesday’s trading as they fell in the US but rose in Europe. As a result, Oklahoma energy stocks were mixed in trading. West Texas Intermediate crude for June delivery, considered the US benchmark fell 6 cents to $65.63 a barrel in trading on the New York Mercantile Exchange. Global …