Heading into the Memorial Day weekend, the U.S. average retail price of regular gasoline was $4.59 per gallon on May 23, the highest inflation-adjusted price since 2012 and the fourth-highest price on record. The U.S. Energy Information Administration reported that on a nominal basis, it is the all-time highest price for gasoline in …
May 2022 archive
Big economic impact from one of Oklahoma’s smallest state agencies
Oklahoma Auditor Cindy Byrd makes the case that one of the smallest state agencies receives only a few million dollars in state appropriations yet had an economic impact into the billions of dollars in the state. Writing in her monthly update, Byrd’s Eye View, the auditor pointed to the Oklahoma Aeronautics Commission. “Other than …
Cushing reports slow decline in crude oil stocks
The amount of crude oil stored at the Cushing hub in northern Oklahoma continues to decline falling by nearly 1 million more barrels over a week. The U.S. Energy Information Administration reported that as of May 20, there was a total of 24,778,000 barrels of oil estimated to be in storage at Cushing. It …
Coterra executive sells nearly $2 million in company shares
An executive with Coterra Energy, one of the oil and gas firms with active operations in Oklahoma sold off nearly $2 million in company shares this week. A company filing with the U.S. Securities Exchange Commission revealed the move by Francis Brian Barron, Senior Vice President and General Counsel for Coterra in Houston. On …
Inhofe presses Biden nominee about EPA’s handling of small refinery operations
The President’s nominee to be a top EPA official faced some stiff questioning Wednesday by Oklahoma U.S. Sen. Jim Inhofe about the administration’s energy efforts and how they affect the nation’s supply of aviation fuel. Joseph Goffman, Biden’s nominee to be Assistant Administrator of the Office of Air and Radiation at the EPA went …
Tesla presses Texas with solar power request
Tesla has gone to the Electric Reliability Council of Texas to allow utility customers with solar power to sell excess power back to the state’s grid. The company wants residential owners to be able to participate in the market, including, of course, owners of Tesla’s residential products, like its Powerwall according to a report …
Permits to drill for May 25, 2022
Canadian County LITTLE SAHARA 1107 #26-23-4MXH, May 25 2022 26 11N 7W NWSWSESE API: 01725815 Lat: 35.393308389768826, Long: -97.90608371186951 CAMINO NATURAL RESOURCES LLC MU, DR, 18288 ft, MISSISSIPPIAN(9963), WOODFORD(10285) Canadian County LITTLE SAHARA 1107 #26-23-5WXH, May 25 2022 26 11N 7W NWSWSESE API: 01725816 Lat: 35.393308393410834, Long: -97.90598306137187 CAMINO NATURAL RESOURCES LLC MU, DR, 18482 ft, MISSISSIPPIAN(9963), …
Completion reports for May 25, 2022
CADDO COUNTY Territory Resources Llc Yule(5850): Oil 2 Water 3 Pump 32 6N 9W Kramer 2-32tr, May 14, 2021 SH, OIL, TD: 7000 ft Lat: 34.94597, Long: -98.17196 API: 35015228290002 CARTER COUNTY Xto Energy Inc Woodford(14250): Oil 16 Gas 2908 Water 205 Flow 6 4S 3E Beulah 4-6h1x, October 28, 2021 HH, GAS, TD: 24444 ft Lat: 34.23651, Long: -97.02248 API: 35019263080001 Xto Energy Inc Woodford(14253): Oil …
Big gains for Oklahoma energy stocks as crude prices rebound
Crude oil prices made a rebound on Wednesday and so did Oklahoma energy stocks with some seeing nearly 11% gains for the day. The return to higher crude prices came because of reported tight supplies and word that U.S. refiners increased processing activity to their highest since prior to the start of the coronavirus …
Supreme Court approves ratepayer backed bonds for ONG, PSO and Summit Utilities
The Oklahoma Supreme Court, in three separate rulings this week, signed off on more than $2.2 billion in ratepayer bonds for three utilities as they seek rate hikes to recover 2021 winter storm costs. But one justice expressed reservations about the new law used in requesting the financial help, noting that Oklahomans will be …
