The significant gain in crude oil prices prompted Tulsa’s Unit Corporation to call off its previously-announced effort to sell all of its oil and gas properties and reserves. The company announced Friday that as a result, it ended its engagement with Tudor, Pickering, Holt & Co. as advisor for the sales effort. The reason? …
June 10, 2022 archive
Drilling activity increases as rig count grows nationwide
The number of oil and gas rigs put into play in the past week increased by 6 to 733 across the U.S. while Oklahoma’s active rig count remained steady. Oklahoma’s number stayed at 59 rigs while nationally, the number included a gain of 6 oil rigs for a total of 580 while the number …
Completion reports for June 10, 2022
completions: none were processed today
Permits to drill for June 10, 2022
Blaine County RED LAND #3-35H, June 10 2022 35 17N 10W SWSESESW API: 01124322 Lat: 35.89933143242294, Long: -98.23878054027372 PRIDE ENERGY COMPANY HH, DR, 14495 ft, MERAMEC(9260) Canadian County SAND BOULDER 19_30-12N-8W #2MHX, April 26 2022 18 12N 8W SENWSESE API: 01725807 Lat: 35.50974342282413, Long: -98.08149035827016 PALOMA OPERATING CO INC MU, AM, 24000 ft, MISSISSIPPI(10350) Custer County KO …
High May inflation rate sent crude prices down on Friday
Another drop in oil prices happened Friday, thanks to a U.S. May inflation report that was worse than expected and sent the dollar higher and equities lower. The May consumer-price index came in at a year-over-year rate of 8.6%, a 40-year high. Despite the drop in crude prices, the U.S. benchmark recorded its seventh …
Lankford and other senators accuse SEC of climate change “overreach”
Senator James Lankford (R-OK) and 31 of his colleagues pushed back on a proposed rule from the Securities and Exchange Commission (SEC) that would place what they called unworkable climate disclosure regulations on farmers, ranchers and agriculture producers. They called it “overreach” by the agency. The Senators’ called on the SEC to rescind the …
More execs report cashing out some of their shares
A few days after an Ovintiv executive in Denver reported cashing out and taking advantage of the high price of company shares, another leader in the firm did the same. So did an executive with Williams Cos. in Tulsa. In the case of Ovintiv’s Rachel Maureen Moore, the firm’s Executive Vice President of Corporate …
Governor says Rare Earth to keep Oklahoma an energy leader
When it comes to energy production in Oklahoma, Gov. Kevin Stitt says the $100 million facility that USA Rare Earth is bringing to Stillwater will keep the state a leader. The Governor and the Oklahoma Commerce Department formally announced Thursday that USA Rare Earth will use a large facility near the Stillwater airport to …
$2 billion transmission line approved in Colorado
Xcel Energy’s $2 billion transmission line meant to carry renewable energy power across Colorado was approved by the state’s public utility regulators. The Colorado Public Utilities Commission approved the project called Colorado’s Power Pathway, a 650-mile stretch of high transmission lines from northern Colorado to the southeast reported The Denver Post. The project will include four …