Crude oil prices started off the trading week with a drop in both the U.S. and overseas markets and Oklahoma energy stocks followed suit. West Texas Intermediate crude for February delivery took a 67-cent plunge to $78.23 a barrel in trading on the New York Mercantile Exchange. Global benchmark Brent crude for March delivery …
January 2022 archive
Producers Midstream II acquires certain gathering and processing assets from Midcoast Energy
Dallas-based Producers Midstream II, LLC has acquired 100% of MidCoast Energy’s gas gathering and processing assets in the Anadarko Basin covering western Oklahoma and the Texas Panhandle. In a recent announcement, Producers indicated it also acquired a 35% operating interest in Texas Express Gathering, a Y-grade gathering pipeline. No amount of money was disclosed …
AARP argues proposed PSO settlement is unfair to residential customers
When an Oklahoma Corporation Commission Administrative Law Judge recently recommended approval of a securitization of PSO’s $688 million in February storm costs, it had the support of several groups, but not the American Association of Retired Persons. The Oklahoma chapter of the AARP opposes the 20-year plan to spread out costs, a move that …
Large wind project approaching completion in Oklahoma
No official date has been announced but sometime early this year, the nation’s largest wind project in 2022 is expected to come on line in Oklahoma. The 999 Megawatt Traverse Wind Energy Center is expected to begin commercial operations sometime in April. Invenergy announced funding for the large operation back in March of 2021. …
Pushback from Texas Oil and Gas operators over natural gas production decline
Oil and gas operators and regulators suggested media reports claiming there was a 25% reduction of natural gas production in Texas were grossly exaggerated and in error. The Texas Oil and Gas Association said the decline was more like 5%, not 25% according to the Midland Reporter-Telegram. Click here for Midland Reporter-Telegram
Senate showdown over Nord Stream 2 pipeline
Texas Sen. Ted Cruz is headed for an apparent showdown with Democrats this week to force the Biden administration to do something about Russia’s Nordstream II pipeline. Cruze has clamored for a vote and Senate Majority Leader Charles Schumer of New York agreed to hold one this week on legislation to put sanctions on …
Nine Energy gets Wall Street warning
Houston’s Nine Energy Service, Inc. , a Texas company with exploration projects in Oklahoma’s SCOOP and STACK plays has been warned by the New York Stock Exchange about its capitalization issues. The company confirmed it received written notice from the New York Stock Exchange on January 5, 2022, that it is not in compliance with …
Evergy announces plan for large solar farm near coal plant in Kansas City
Evergy announced it will build a 10-megawatt solar farm near its coal-fired power plant in northeast Kansas City. The company stated that half of the energy from the solar farm will go to serve the firm’s entire base of 1.6 million customers in Kansas and Missouri reported the Kansas Reflector. Click here for Kansas Reflector
Senators review nation’s hydropower abilities
Oklahoma U.S. Sen. James Lankford and others on the Senate Energy and Natural Resources Committee will explore hydropower during a hearing on Tuesday. Led by Democratic Sen. Joe Manchin, the committee hearing will examine the opportunities and challenges for maintaining existing hydropower capacity, expanding hydropower at non-powered dams and increasing pumped storage hydropower. The …
Tesla unveils giant Megapack battery project in South Texas
While the new Tesla car-manufacturing plant near Austin, Texas is about to open for production, the company has also gone public with a giant Megapack battery project south of Houston. Online publication electrek described it as one of the biggest yet…an 81-Megapack project. Click here for electrek