** The city council in Iowa City rejects a proposed lease agreement for a MidAmerican Energy solar project due to residents’ conservation concerns. ** Electric truck startup Rivian delays the launch of two models as the coronavirus causes a production slowdown at the company’s Illinois plant. ** An Ohio-based electric vehicle startup receives a letter of intent from a Florida company seeking to order …
2020 archive
PSO asks regulators for approval of lower electric bills
Customers of Public Service Company of Oklahoma might soon see reduced electric bills as PSO applied with the Corporation Commission to reduce its monthly fuel cost recovery on bills. In a Wednesday announcement, PSO said the request is due to lower costs for purchased power and the fuel to generate electricity. The utility submitted a request …
Summary of oil picture in the U.S.
The Energy Information Administration Tuesday released a sharp downward revision to its U.S. crude oil production forecast. Declines are now projected to be deeper and begin faster than the prior forecast issued less than a month ago, as the chart above shows. EIA now sees U.S. crude oil production falling to an average of 11.76 million barrels …
HollyFrontier refineries at 70% capacity as company cuts capex
Holly Frontier Corporation, operator of refineries in Tulsa and Kansas and other states has moved to cut its 2020 capital expenditures by nearly 15%. The Dallas-based company said its capex will be reduced from the original budget of an estimated $729 million down to about $525 million. The revised capital budget was announced Wednesday as …
Rural electrics want government help
Rural electric cooperatives are among those standing in line for the country’s next coronavirus relief package. The National Rural Electric Cooperative Association, the group representing rural co-ops in Oklahoma and elsewhere in the U.S. asked congressional leaders for relief this week. More than 30 such electric cooperatives are members of the Oklahoma Electric Cooperatives …
Magellan Midstream’s annual meeting to be virtual
Tulsa-based Magellan Midstream Partners, L.P. announced it has decided to make its April 23 shareholders meeting a virtual meeting because of the coronavrius pandemic. The company will hold the meeting via webcast beginning at 10 a.m. Central Time on Thursday, April 23. It means unit holders will not be able to attend the annual meeting …
Williams’ poison pill upsets proxy advisor
While Williams Chairman Stephen Bergstrom faces no opposition in the company’s upcoming annual shareholder meeting, a proxy advisor says he should not be re-elected. The claim is based on the company’s recent move to adopt a so-called poison pill aimed at making the company seem unattractive for any takeover attempt. The claim comes from Institutional …
SandRidge board member dies
Bob. G. Alexander, a long time member of the board of directors for SandRidge Energy, Inc. and Oklahoma oilman died this week. He was named to the SandRidge board in 2018 after activist investor Carl Icahn won a proxy fight with the company. Alexander founded the Alexander Energy Corp and led it until the …
Latest well completions include 8 from Continental Resources
Despite the low oil prices, Oklahoma City-based Continental Resources Inc. filed 8 completion reports this week with the Oklahoma Corporation Commission. Three were wells on a single pad in Garvin County with production of about 800 barrels of oil a day. The three wells had production of 449, 139 and 169 barrels of oil …
Completion reports for April 7, 2020
Completion reports filed for April 7, 2020. BLAINE COUNTY Continental Resources Inc Woodford – Mississippian: Gas 7480 Water 4716 Flow 1 13N 13W Hc Fiu 1-12-13xh, May 07, 2018 HH, GAS, TD: 24303 ft Lat: 35.62389, Long: -98.52676 API: 35011238160001 GARVIN COUNTY Continental Resources Inc Woodford(14602): Oil 449 Gas 7060 Water 3474 Flow 20 3N 4W Lang 4-20-29-32xhw, August 30, 2019 HH, GAS, TD: 21673 …