The question of whether to return to a 50% allowable natural gas prorationing rate in Oklahoma goes before Corporation Commissioners on Tuesday. The regulators raised the rate to 100% during the February winter storm to allow a faster movement of more gas so power plants could operate during the frigid weather and prevent extended …
The Oklahoma City law firm of Federman & Sherwood filed a class action lawsuit in Pennsylvania against Fort Worth-based Range Resources Corporation accusing it of artificially inflating the value of its stock over the past five years. The lawsuit, filed in the Western District of the U.S. District Court in Pennsylvania alleges violations of …
The oil and gas industry is facing another fight over its massive development of the Permian Basin in New Mexico. This time, it involves a move by the environmental group WildEarth Guardians to designate the main four counties that make up the Permian Basin in the state to be areas in violating of federal …
A series of bills targeting the oil and gas industry in the wake of the Biden administration’s moves to halt drilling on public land and kill the Keystone XL pipeline will go before a House subcommittee this week in Washington. The House Energy and Mineral Resources subcommittee plans hearings on Tuesday on several bills …
** A suspected missile strike on an oil-loading facility used by Turkey-backed opposition forces in northern Syria sparked a massive blaze across a large area where oil tankers are normally parked, aerial and satellite images show. ** A go-to lender for U.S. electric cooperatives, National Rural Utilities Cooperative Finance Corporation has $4 billion in exposure to the …
The Washington Post reports that the corporate and municipal owners of more than 30 power-generation plants in Texas apparently ignored warnings and advice from nearly a decade ago when the state was hit by a cold weather snap. The paper found the same companies experienced similar problems in 2011 and failed to winterize equipment …
A small town in far southeast Kansas has sued BP Energy over the February extreme cold weather and the natural gas prices the company charged. The town of Mulberry accused BP Energy of “unconscionable profiteering” after the company inflated gas prices from $2.98 per mmbtu on Feb. 9 to $329.615 from Feb. 13-16 reported the …
U.S. crude prices rose above $66 a barrel in Friday’s trading and investors and producers will be anxious to see Monday if prices will continue their climb after news that OPEC+ will not lift crude oil production levels beginning in April. On Friday, West Texas Intermediate crude for April delivery soared $2.26 a …
Another major deal was struck Friday in the oil and gas industry as Chevron Corp announced its intentions to buy the shares it already does not own in Noble Midstream Partner LP in a deal worth $1.32 billion. The deal could be closed in the second quarter of the year and means Noble Midstream …
Workers at Continental Resources have known about it since last year but the company recently filed completion reports on two adjacent gas wells in western Oklahoma with combined production of more than 29,000 Mcf. Both wells were in Custer County and at sites located 8 miles north of Weatherford and east of highway 54. …
