While Continental Resources reported a strong second quarter, strong enough to result in $634 million in free cash flow, company leadership is also taking a serious approach to the role oil and gas has in the world of politics and the impact on the environment. A day after announcing second quarter financial results which …
August 2021 archive
Increased oil activity reflected in state’s tax collections
New state figures from the Oklahoma Treasurer showed improved oil and gas gross production tax collections during the month of July, another sign of how the state’s oil and gas industry has recovered since the 2020 collapse during the COVID-19 pandemic. Treasurer Randy McDaniel’s release indicated the revenue from the fossil fuels was …
Higher earnings in 2Q for OGE Energy Corp
The second quarter 2021 brought increased earnings for OGE Energy Corp., parent company of Oklahoma Gas and Electric. The company reported net income of $113 million or $0.56 per share in the second quarter, compared to $86 million or $0.43 per share in the year-ago quarter. “Our strong customer growth of 1.3% over the last year reflects the combination of highly …
OGE uses Artificial Intelligence to target wood peckers and pole damage
Woodpeckers—-here we come. Oklahoma Gas and Electric plans to target power pole damage caused by the birds through the use of artificial intelligence. Of course, the utility will also use a pilot program to check on other damage that results in equipment failures. The company will use AI-powered image recognition technology enabling engineers to …
ODOT okays 5-year plan for major county projects
While congress fights over a $1.2 trillion infrastructure project, Oklahoma Transportation Commissioners met this week and moved ahead with $91 million in highway improvement projects and approved a 5-year plan for county improvements. The County Improvements for Roads and Bridges or CIRB plan was updated for Federal Fiscal Years 2022 through 2026. It includes …
Energy news in brief
** The U.S. Energy Information Administration reported U.S. petroleum consumption decreased to a 25-year low in 2020. The 18.1 million barrels a day of petroleum products consumed decreased in every energy-consuming sector. ** U.S. oil company ConocoPhillips is aiming to collect some $115 million that Jamaica’s government owes Venezuela to partly enforce a $2 billion arbitral …
KC explores street lights as sites for EV charging stations
A pilot project in Kansas City is experimenting with the use of street lights for EV charging stations. Utility Dive reports the project is designed to see if it might increase the use of electric vehicles. Click here for Utility Dive.
How much would Oklahoma receive under the infrastructure bill
If the Democrats’ infrastructure measure were passed today, Oklahoma would receive more than $5 billion for roads and highways, EV charging stations and rural broadband expansion. The Oklahoman reported this week the figure was supplied by the White House and the money would be distributed over the next five years. Click here for The …
Senate Democrats want $500 billion in damages from fossil fuel companies
One doesn’t have to imagine too far what energy companies in Oklahoma think of the efforts of Democrats in Congress who want oil and gas companies to pay for their climate wish list. Democrats in the Senate expanded their list for the multitrillion-dollar package the White House wants by way of budget reconciliation. Axios …
Completion reports for August 4, 2021
ARTER COUNTY Continental Resources Inc 36 1S 3W Bear Creek 1 Swd, July 16, 2021 SH, DISP, TD: 13416 ft Lat: 34.42132, Long: -97.47053 API: 35019264360001 KAY COUNTY Barber Oil Llc Cleveland(3170): Oil 20 Gas 63 Water 10 Flow Cleveland(3170): Oil 1 Water 41 Pump 34 29N 1W Vickery 1-34, June 14, 2021 SH, OIL, TD: 3524 ft Lat: 36.95379, Long: -97.29848 API: 35071243110001