February 12, 2022 archive

Some storm cost data revealed by OCC—but not all

  The Oklahoma Corporation Commission released data showing how more than 65 companies split more than $3 billion from utilities as they purchased natural gas to continue providing warmth during the February 2021 winter storm Uri. But there are still some information the public won’t see. The information from the Commission’s Public Utilities Division detailed …

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New report details Oklahoma’s Oil and Natural Gas industry huge contribution to the state’s economy

  A new report tells the story of how essential the oil and natural gas industry is to Oklahoma and how it is positioned to be the key to our state’s well-being in the future. The report, completed by RegionTrack, Inc. for the Oklahoma Energy Resources Board (OERB), has compelling numbers. For example, during the …

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Cushing hub crude oil storage slipped again

  A report by the federal government showed the amount of crude oil in storage at Oklahoma’s Cushing hub slipped again this month to slightly more than 27 million barrels of crude. The U.S. Energy Information Administration reported a decline of 2.8 million barrels of oil as of Feb. 4, 2022. Total storage for that …

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ConocoPhillips reported to be weighing $1 billion sale of Permian assets

  A report by Bloomberg suggests ConocoPhillips is weighing the prospects of selling its more than $1 billion in operations in the Permian Basin. The company is not commenting publicly about the report but Bloomberg claims ConocoPhillips is working with an adviser to run an auction process for the assets. Click here for Bloomberg  

Federal judge strikes down Biden climate damage cost estimate

  In a lawsuit led by GOP Attorneys General from 11 oil and gas producing states, a Louisiana federal judge blocked the Biden administration’s attempt to put more emphasis on potential damage from greenhouse gas emissions in the creation of rules for polluting industries. Oklahoma was not one of the states involved but the suit …

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