Continental Resources announced Monday that 2021 delivered record cash flow generation for the Oklahoma City-based company. As a result, the company intends to devote more money into Oklahoma and North Dakota operations. The company had $1.66 billion in net income or $4.56 per diluted share and a record $3.97 billion cash flow from its …
February 2022 archive
U.S. crude hits 7-year high with $95 oil as world wonders about Russia
With the growing threat of a Russian invasion of Ukraine, crude oil prices on Monday increased more than 2% hitting a 7-year high. West Texas Intermediate crude jumped $2.36 or 2.5% and finished the day at $95.46 a barrel. It had climbed as high as $95.82 earlier in the day, the highest mark in …
Unhealthy air warning for SE Oklahoma
The Oklahoma Department of Environmental Quality issued a health advisory Monday morning pointing to unhealthy air conditions in southeast Oklahoma. The DEQ identified Pittsburg County as having high levels of fine particular matter that could prove “unhealthy” for certain people. In particular, those with respiratory diseases, such as asthma, were encouraged to limit their …
Devon executives report $18 million sale of company shares
Filings made this week with the Securities and Exchange Commission reveal how executives at Oklahoma City’s Devon Energy unloaded hundreds of thousands of company shares in sales totaling more than $18 million. The sales were made Feb. 10, 2022 and executives were paid $52.22 per share. David Hager, Executive Chair sold 201,328 shares in …
Other energy news headlines
** U.S. consumption of coal fell from 11.3 quadrillion British thermal units (quads) in 2019 to 9.2 quads in 2020, a 19% decrease. The electric power sector accounted for 90% of total consumption reported the U.S. Energy Information Administration. ** Toyota announces it will invest $73 million into a West Virginia factory to increase its ability to produce hybrid …
Judge rules against BLM in sage grouse case in Colorado
A federal judge ruled the Bureau of Land Management illegally failed to consider impacts to the imperiled Gunnison sage grouse when issuing oil and gas leases in southwest Colorado, but stops short of vacating the leases. The Grand Junction Daily Sentinel reports the ruling came in lawsuits brought by conservation groups and the San Miguel County …
Inhofe wants Congress to save taxpayer dollars and find permanent solution for spent nuclear fuel
For Oklahoma U.S. Sen. Jim Inhofe, it’s been a long, long conversation in this country on the subject of how to deal with spent nuclear fuel. At a recent hearing held by the Senate Environment and Public Works Committee, the Republican Senator again stressed the need for a permanent solution. The hearing focused on …
Lankford says an All-of-the-Above approach to give hydrogen production the best chance of success
Oklahoma U.S. Sen. James Lankford says if the nation wants to move to more hydrogen use, then it needs to build more pipelines—not fight them. Serving as the lead Republican on the Senate Committee on Energy and Natural Resources during a recent hearing, the Senator delivered remarks as the committee explored opportunities and challenges …
NGL signs deal to expand water business in the Permian
Tulsa’s NGL Energy Partners LP increased its Permian Basin water business with the announcement of a long-term agreement for the transportation of produced water. NGL did not identify who the deal is with, only saying the agreement was “with a leading, investment grade independent producer operating within the Delaware Basin.” The new dedicated long-term …
Rep Mullin says energy crisis continues thanks to Biden
The energy crisis continues. It’s what Oklahoma Republican congressman Markwayne Mullin told his followers this weekend in a newsletter to them. And he put the blame largely on the shoulders of President Biden. He pointed to Biden’s waiver of sanctions on Russian leader Vladimir Putin’s Nord Stream 2 pipeline, a move that came after the …