** The Justice Department on Friday announced a lawsuit against Norfolk Southern Railway in connection with the Feb. 3 derailment of a train carrying hazardous materials in East Palestine, Ohio. ** The Biden administration on Friday proposed new rules about when electric vehicles can be eligible for a consumer tax credit — though its disagreements …
Crude oil and OK energy stocks recorded gains in Friday’s trading
The tightening of oil supplies around the world sent crude oil prices upward by more than a dollar a barrel on Friday and Oklahoma energy stocks also recorded gains for another day. The price gains were also boosted by U.S. inflation data that indicated price rises were slowing. West Texas Intermediate for delivery in …
PSO workers sent for storm relief work in Kentucky and Virginia
Nearly 160 Public Service Company workers departed Tulsa on Friday to offer storm relief efforts in Virginia and Kentucky where severe weather was expected over the weekend. The group included 60 PSO employees and 100 business partners. It involved at least 35 trucks. They were expected to arrive Saturday night to help deal …
Oil and gas rig numbers decline in Oklahoma and U.S.
The number of active oil and gas rigs across Oklahoma and the U.S. dropped in the past week according to an announcement by Baker Hughes Co. Oklahoma’s rig count was 59 in the past week, a decline of two from the previous week. A year ago, there were 49 active rigs in the state. …
Chesapeake Energy wraps up $1.4 billion sale of Eagle Ford assets
Chesapeake Energy has officially completed another step in its departure of the Eagle Ford play in South Texas with the completion of its $1.425 billion sale of holdings to Wildfire Energy I LLC. A filing with the Securities and Exchange Commission indicated the sale was finalized March 20. At the time of the original …
Big new wells reported by Gulfport Midcon and Devon Energy
Oklahoma City’s Gulfport Midcon LLC just filed completion reports on three Grady County wells drilled on a single pad with oil production of more than 1,200 barrels of oil a day along with 28,000 Mcf of natural gas. The three Scr wells were completed in October of last year but the reports were not …
EV Tax Credits to be few and far between under new IRS rules
New rules proposed Friday by the U.S. Treasury Department just put a crimp in those expecting to get a full $7,500 federal tax credit for buying a new electric vehicle. As a result, fewer EVs will be eligible and according to the Associated Press, many will get only half of the $7,500 credit. The …
Advocacy group tries to embarrass Oklahoma Reps. for taking oil and gas campaign money
Advocacy group Public Citizen seems to think it’s wrong for members of Congress to receive campaign contributions from the nation’s oil and gas industry, especially in states where oil and gas is a major economic driver. The group identified 10 House members, who voted for the GOP-sponsored Lower Energy Costs Act, as receiving a …
Crude oil made 2% gain in the US while OK energy stocks recorded moderate increases
Crude oil prices managed a 1% gain in Thursday’s trading while Oklahoma energy stocks made moderate gains for the day. Prices went up as the government revealed U.S. crude stockpiles were lower. An export halt from Iraq’s Kurdistan region also played a role in the price increase. West Texas Intermediate crude rose $1.40 or …
Oklahoma Representatives help House to approve GOP-sponsored energy act
When the U.S. House of Representatives on Thursday approved the measure labeled the Lower Energy Costs Act or H.R. 1, all five Oklahoma Representatives voted to support the bill. Approval came on a bipartisan vote of 225-204. Republicans called the bill their effort to reverse the energy crisis caused by the Administration’s “failed, anti-American …
