February 2021 archive

ONE Gas leaders join energy conference

  Corporate leaders of ONE Gas plan to take part Monday in the Morgan Stanley Energy and Power Conference as they seek new investors. The conference will be held virtually and include ONE Gas leaders Pierce H. Norton II, president and chief executive officer, Caron Lawhorn, senior vice president and chief financial officer, Curtis Dinan, …

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Bureaucracy takes over utilities and their outrageous storm bills

  As utilities in Oklahoma asked for regulatory relief from massive natural gas bills that hit them during the February winter storm, some sought protective orders for their confidential business information. However, most have just started the long and slow process of seeking state government help. Corporation Commissioners voted Thursday in support of a protective …

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Oklahoma regulators to review limits on natural gas production

  Oklahoma Corporation Commissioners meet Monday to decide whether to return to a 50% allocation of natural gas production following emergency action taken during the winter storm  to increase production to 100%. Some energy companies support a rate higher than 50%. Commissioners will consider a recommendation filed by Robyn Strickland, Director of the Commission’s Oil …

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New STACK drilling efforts approved

  Oklahoma’s STACK play will see some new drilling efforts as state regulators handed out drilling permits to Ovintiv Mid-Continent Inc. It means the Denver-based energy company remains eager to make more large finds in Kingfisher County where it had significant success in 2020 as indicated in recent completion reports. Ovintiv received permits to drill …

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Completion reports for February 26, 2021

KAY COUNTY Snr Northern Oklahoma Operating Llc Viola(4680): Water 200 33 25N 1E Wyckoff 33-4, January 31, 2020 SH, DRY, TD: 4785 ft Lat: 36.59854, Long: -97.20694 API: 35071249130001

Permits to drill for February 26, 2021

Creek County LOST CREEK #32-2, February 26 2021 32 15N 9E CSWSESE API: 03729471 Lat: 35.727088993888025, Long: -96.37248046616878 RUSH CREEK OPERATING LLC SH, DR, 2650 ft, CALVIN(1000), PRUE(2200), RED FORK(2550) Ellis County DOWLER 15/10 OB #1H, February 26 2021 22 18N 24W NENWNWNE API: 04523837 Lat: 36.02757115670926, Long: -99.74577664549524 MEWBOURNE OIL COMPANY MU, DR, 20228 ft, CHEROKEE(9850), …

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Oil tumbled to $61 and energy stocks followed

  Crude oil prices plunged in Friday’s trading and now investors and producers await Monday’s trading to see if there will be a rebound. West Texas Intermediate crude for April delivery fell $2.03 to $61.50 a barrel on Friday. Global benchmark Brent crude dropped 75 cents to $66.13 a barrel. Natural gas for April fell …

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Investors ignore Biden’s attacks—rig count increases

  While the Biden administration attacked the oil and gas industry with cancellation of the Keystone XL and the suspension of new drilling permits on federal lands, investors apparently are not shying away from putting their money in new drilling, as reflected by the latest Baker Hughes rig count.   Baker Hughes Co. reported an …

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Critics pounce on Icahn as he attempts takeover of FirstEnergy

  He already controls SandRidge Energy in Oklahoma City and owns CVR Energy, operator of Oklahoma’s Wynnewood Refinery and as Carl Icahn sets his sights on Ohio’s FirstEnergy, his critics are unleashing a torrent of harsh words for the activist investor. Icahn’s been labeled a “corporate raider” for years and now he’s being called “notorious,” …

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Missouri legislators pass bill targeting Grain Belt Express transmission line

  The large plan to carry southwest Kansas wind powered electricity across Missouri and to Illinois ran into more problems in the Missouri legislature. The Missouri House voted to ban the use of eminent domain for the Grain Belt Express power line. The vote was 123-33 in favor of the bill which would prevent the …

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