Oil prices continue their downward slide

  Monday marked another down day for crude oil futures, both in the U.S. and overseas while Oklahoma energy stocks moved up in trading. West Texas Intermediate crude for April delivery dropped 86 cents to $60.64 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for May delivery fell 73 …

Continue reading »

Oklahoma regulators mull over increased gas production rates

  Oklahoma regulators delayed a decision Monday whether to increase the state’s long-term allowable natural gas production proration rate but will meet Tuesday to consider extending the emergency rate of 100% approved during the winter storm. Oklahoma Corporation Commissioners listened to testimony by a Commission specialist who had recommended increasing the national gas production rate …

Continue reading »

Mullin in The Hill: The cold truth on energy

“I firmly believe it is not the governments job to pick winners and losers in our fuel mix”—Rep. Markwayne Mullin Oklahoma Congressman Markwayne Mullin went after the “radical left” and “overregulation” in a recent op-ed piece for The Hill in which he defended the fossil fuel industry during the cold spell that killed dozens and …

Continue reading »

Mammoth Energy lays out financial possibilities in 2021

Oklahoma City’s Mammoth Energy Services is not suggesting it will fail in 2021, but it told investors in an annual report filing with the Securities and Exchange Commission a lot depends on industry conditions and the company’s financial results. The filing came after Mammoth last week reported total revenue for 2020 was down 50% from …

Continue reading »

Energy nominees to face Sens. Inhofe and Lankford this week

  Oklahoma U.S. Sens. Jim Inhofe and James Lankford will be busy this week dealing with Senate committee confirmation hearings on three Biden nominees. Sen. Inhofe, who once chaired the Senate Energy and Public Works Committee will be among those questioning Brenda Mallory who was nominated to led the White House Council on Environmental Quality …

Continue reading »

Cold weather shutdown of oil refineries to last several more weeks

  The historic cold weather that hit Texas did as much to shut down oil refineries as hurricanes according to the Energy Information Administration which also indicated it will be weeks before some are back in full operation. In a release on Monday, the EIA stated gross inputs of crude oil and other feedstock to U.S. …

Continue reading »

Energy news in brief

** U.S. Senate committees will hold confirmation hearings this week for Brenda Mallory to lead the White House Council on Environmental Quality, Janet McCabe to be deputy EPA administrator and David Turk to be deputy Energy secretary. ** Cheniere Energy Partners, L.P. announced  that it has amended its earlier announced tender offer and consent solicitation in …

Continue reading »

Private exploration firms outpacing the majors in oil patch

  A report by Bloomberg reveals private operators in the oil and gas industry are making larger strides than the ‘Big Boys’ in terms of putting rigs in the oil patch. Smaller private operators, including Quantum Energy, a firm with major Oklahoma operations is one of the leading exploration firms at this point, trailing only …

Continue reading »

Texas utility files for bankruptcy protection after massive winter storm bills

  While Oklahoma utilities are asking for regulatory relief from the Corporation Commission, at least one utility in Texas handled the high winter storm costs another way—it filed for bankruptcy protection. Brazos Electric Power Cooperative, Inc, the state’s oldest and largest electric power cooperate filed Monday in federal court in Houston and cited a $1.8 …

Continue reading »

Millions of acres of leased public land sit idle

  A new report shows that of nearly 21 million acres of federal public land has been leased by the oil and gas industry, nearly half sits idle. Millions of acres are unused according to the Center for Western Priorities which stated that of 20.9 million lased to oil and gas explorers, 9.9 million is …

Continue reading »