A Texas Railroad Commissioner recently advocated that the natural gas industry should receive incentives similar to tax credits received by the renewable energy industry. Jim Wright, a member of the entity that regulates the oil and gas industry in Texas, believes similar parity would better protect the state’s energy systems and infrastructure from catastrophes like …
August 2021 archive
CenterPoint Energy Reports Jump in Income for 2Q 2021
Houston-based CenterPoint Energy, Inc. reported income of $221 million, or $0.37 per diluted share, for the second quarter of 2021, according to an earnings report issued last week. This compares to income available to common shareholders of $59 million, or $0.11 per diluted share, for the second quarter of 2020. On a non-GAAP basis, second …
Lankford convinces DHS to stop plans to move immigrants to Hinton
Senator James Lankford (R-OK) successfully blocked President Biden’s Immigration and Customs Enforcement (ICE) office from opening a “surge overflow temporary facility” at the Great Plains Correctional Institution in Hinton, Oklahoma, that would have been used to process migrants who crossed the border illegally and release them into Western Oklahoma. Twenty-four hours after Lankford spoke on …
Widespread energy gains reported in 2Q
From Denver to Houston, energy firms reported strong finances in the second quarter. Increased revenue for the second quarter 2021 was announced by Denver-based Whiting Petroleum. Revenue for the second quarter of 2021 increased $44 million to $352 million when compared to the first quarter of 2021, primarily due to increased commodity prices …
Drillers remain cautious as rig counts show slight growth in Oklahoma and U.S.
Reflecting the nation’s slow growth in oil and gas exploration, the latest rig numbers released by Baker Hughes show increases in Oklahoma and the rest of the U.S. But it’s clear drillers are not jumping in feet first and are displaying cautious exploration as crude oil prices fluctuate. Oklahoma’s rig count grew by one …
Strong second quarter for Cheniere Energy
Cheniere Energy might have been heavily criticized by some Oklahoma farmers and the Federal Energy Regulatory Commission over the way it failed to cleanup Oklahoma farmland following construction of the Midship pipeline, but the company had a heathy quarter ending June 30. The company reported consolidated adjusted EBITDA of nearly $1 billion for the …
Phillips 66 Invests in advanced analytics software developer
Phillips 66 announced it invested in supporting Seeq, a developer of software applications as the company expands its advanced analytics capabilities. Phillips intends to use the investment as a means of analyzing and sharing insights on process manufacturing data. The investment is through the Altira Group, a venture capital firm that counts Seeq …
Interstate 70 still closed in western Colorado–disaster declared by Governor
Colorado Gov. Jared Polis issued a disaster declaration on Friday for the damage from flooding and rockslides to I-70 in Glenwood Canyon—damage that has shut down the interstate for an indefinite period. Traffic is forced to be rerouted for long distances through the mountains reported the Denver Gazette. Click here for Gazette story.
Oklahoma energy stocks went up while oil went down Friday
Crude oil prices fell to their biggest weekly loss in months on Friday as they dropped 1% lower but it had the opposite effect on most Oklahoma energy stocks. Global benchmark Brent crude for October delivery fell 59 cents to $70.62 a barrel on ICE Futures Europe. West Texas Intermediate crude for September delivery …
Completion reports for August 6, 2021
completions: none were processed today