February 2021 archive

Carl Icahn looking to buy stake in FirstEnergy

  Activist investor Carl Icahn, the largest shareholder in Oklahoma City’s SandRidge Energy as well as the CVR Refinery in Wynnewood now has his eyes set on troubled Ohio-based FirstEnergy Corp. Yes, this is the same company that became the focus of a major bribery scandal last year when three top executives were fired in …

Continue reading »

ERCOT—so close to months of blackouts in Texas

Reports indicate that the state of Texas, was literally minutes away from possible power outages lasting months, not hours as the historic freeze gripped the state and interfered in power production. As the status of rolling blackouts and power production improved late in the week, Bill Magness, President and CEO of the Electric Reliability Council …

Continue reading »

Natural gas prices plunge as supplies return in Oklahoma

  As temperatures rose into the mid 20s on Thursday in Oklahoma, gas supplies eased too along with a dramatic and historic plunge in natural gas prices. Reports indicate spot prices on gas dropped 99%. By Thursday, the gas supply for next-day delivery at the ONEOK Gas Transportation hub in the state traded at $4 …

Continue reading »

Why Texas has its own electrical power grid

  While Oklahoma belongs to the Southwest Power Pool which is a voluntary group of 13 other states, Texas has its own power pool. And most of the state, with the exception of El Paso and parts of the Panhandle are in the power pool called the Electric Reliability Council of Texas. Now ERCOT is …

Continue reading »

Completion reports for February 18, 2021

PONTOTOC COUNTY Citation Oil & Gas Corporation 28 2N 7E East Fitts Unit(E.h. Moore – Mack 2) 34-2, March 21, 2018 SH, INJ, TD: 4306 ft Lat: 34.61179, Long: -96.57020 API: 35123023220006

Permits to drill for February 18, 2021

Grady County SANDY CREEK RANCH #3-30-19XHW, February 17 2021 30 4N 5W SESWSWSE API: 05124813 Lat: 34.783898440225464, Long: -97.76300051005632 CONTINENTAL RESOURCES INC MU, AM, 25696 ft, SYCAMORE(14870), WOODFORD(15372), HUNTON(15427) Grady County DOUGHERTY-WELCH #2, February 18 2021 01 4N 5W NESENWNW API: 05123476 Lat: 34.85307556358858, Long: -97.68241676263845 RED ROCKS OIL & GAS OPERATING LLC SH, RC, 13030 ft, …

Continue reading »

Oil prices dropped—so did most Oklahoma energy stocks

    Crude oil prices took a plunge in Thursday’s trading and Oklahoma energy stocks followed suit, some dropping more than 8%. West Texas Intermediate crude for March delivery dropped 62 cents to $60.52 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude oil for April delivery fell 41 cents …

Continue reading »

New drilling interest in Oklahoma

  Energy companies are planning more drilling activity in Oklahoma including Continental Resources which obtained permits to drill this week including a four-well site in Grady County. Continental actually received permits for five Sandy Creek Ranch wells, with one to be located adjacent to the four-well, single-pad site. The SANDY CREEK RANCH #4-30-19XHW, is located at 31 …

Continue reading »

Natural gas line explosion in northern Oklahoma

(Enid News&Eagle) While Oklahoma struggled with natural gas supplies to keep power plants producing electricity in the historic winter storm, some flow was interrupted when a natural gas line exploded early Thursday near the northern town of Ames. No one was injured and the fire was eventually allowed to burn itself out according to the …

Continue reading »

Downturn didn’t stop energy firms from helping non-profits

  Oklahoma’s non-profit organizations are giving a big thank you to the people of Oklahoma Oil & Natural Gas. Despite the downturn, organizations, companies and individuals from the industry have stepped up to help their fellow Oklahomans across the state. In fact, some of the state’s largest non-profits are reporting that the oil and natural …

Continue reading »