As refineries gear up for spring gasoline production and maintenance, gasoline prices have gone up across the U.S. including in Oklahoma. The State’s new average this week is $2.20 a gallon, at least 7 cents higher than a week ago. The national average is $2.40 a gallon or 8 cents more than last week. The …
February 26, 2019 archive
Price tag for Green New Deal is stunning
After reading a Bloomberg News report that the Democrats’ Green New Deal has a $93 trillion price tag, Oklahoma congressman Markwayne Mullin was stunned. “The price tag for radical Democrats” #GreenNewDeal? A whopping $93 TRILLION. But we can’t fund the wall at our southern border for $5.7 billion?” he tweeted this week, referring followers to …
Water has become almost as valuable as oil in west Texas
Water is the new oil in West Texas where a 37,000-acre ranch just sold for $32.5 million. Because of the need for water to be used in fracking in the Permian Basin, drilling operations are already underway on the ranch bought by El Paso billionaire Paul Foster. He put in a bid for the ranch …
STACK and SCOOP operator divests North Sea holdings
Marathon Oil, a firm heavily active in Oklahoma’s STACK and SCOOP plays has sold its North Sea Operations for $140 million. The Houston, Texas company sold its UK businesses Marathon Oil UK and Marathon Oil West of Shetland Limited to RockRose Energy. The sale will result in a complete regional exit for the Texas company. …
U.S. January oil production set another record
Oil production in January in the U.S. reached a record high of 12 million barrels of oil a day, up 90,000 bpd from December 2018. The U.S. Energy Information Administration called it another all-time U.S. oil output record, breaking the previous record of 11.91 MMbopd set in December. Last November, the EIA had estimated …
Democrats in Colorado push for tighter controls over oil and gas industry
After Colorado voters rejected proposed tighter rules on oil and gas development last year, Democrats in the state plan to introduce legislation to carry out their targeting of the industry. Democratic leaders in the Colorado legislature say they will introduce what they call “sweeping” legislation to redefine the mission of the Colorado Oil and Gas …
Higher profits reported by ONEOK
Tulsa-based ONEOK, Inc. reported higher fourth quarter and full-year 2018 earnings. Its 2018 net income was nearly $1.15 billion compared to $388 million in 2017. Fourth quarter earnings went up too, reaching $293 million, more than the $63 million reported in the fourth quarter of 2017. The company’s operating income for the year came to …
Xcel Energy invests millions to help with power outages in Texas Panhandle
Xcel Energy is putting more money into backup power in the Texas Panhandle, a move it says will help residents recover faster from power outages. Xcel announced recently it reached an agreement with North Plains Electric Co-Op to help with power restoration after storms or incidents. Excel Energy has more than 1,000 customers in …
Water contamination forces New Mexico dairy farmer to dump milk and kill cattle
A New Mexico dairy farmer has been dumping 15,000 gallons of milk a day down the drain and faces putting all 4,000 of his cows to death—–because of contaminated water. Art Schaap of Clovis learned last summer that his water, his land and his crops were contaminated with chemicals that had migrated to his property …
SEC filing by Chesapeake Energy
A filing with the Securities and Exchange Commission shows Chesapeake Energy’s new board of directors member David W. Hayes acquiring new shares. The filing indicated he acquired 63,863 shares as a result of his selection to the company’s board of directors. Hayes was named earlier this month to the board. He earlier had been …
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