What happened recently to TC Energy’s huge Keystone pipeline that stretches across the U.S. and through Oklahoma enroute to the Gulf Coast refineries might make a case why the Keystone XL pipeline was needed in the U.S. What happened was this. Just as President Biden pitched Saudi Arabian leaders to increase the flow of …
July 2022 archive
Record highs could mean record electricity demand
With a Tuesday high of 110 degrees predicted in Oklahoma and even higher readings in nearby states, record electricity-demand is also in the forecast. So far, Oklahoma’s grid operator, the Southwest Power Pool, has not taken any drastic steps to encourage utility customers to curtail their demand for more electricity in order to cool …
Buffett increases holdings in Occidental Petroleum
Warren Buffett’s desire to acquire Occidental Petroleum reached another plateau this week as his Berkshire Hathaway company dumped another $122 million into the company shares. It means the Omaha-billionaire now owns 19.4% or 3% more than he did at the beginning of March when he launched his takeover attempt. Reports indicate Berkshire also has …
Permits to drill for July 18, 2022
Canadian County EARLES RANCH #2H-7-18, June 22 2022 07 11N 9W SWSWSWNW API: 01725822 Lat: 35.44324538673647, Long: -98.20036433008451 CITIZEN ENERGY III LLC MU, AM, 19100 ft, MISSISSIPPIAN(13700), WOODFORD(13800) Canadian County WHEELOCK 1106 #33-1MH, July 18 2022 33 11N 6W NWSESWSW API: 01725829 Lat: 35.37810290453945, Long: -97.84624997293521 CAMINO NATURAL RESOURCES LLC HH, DR, 15197 ft, MISSISSIPPIAN(9604) Creek County …
Completion reports for July 18, 2022
CIMARRON COUNTY Sec Production Inc Morrow(4462): Oil 40 Water 20 Pump 35 2N 9E Hampton 4, January 26, 2022 SH, OIL, TD: 4702 ft Lat: 36.59156, Long: -102.05559 API: 35025210840000 GARVIN COUNTY Stephens & Johnson Operating Co Deese(2010): Oil 0.86 Water 23 Pump 28 1N 3W Tussy Deese Unit Gp-8, October 20, 2021 SH, OIL, TD: 3500 ft Lat: 34.52297, Long: -97.52149 API: 35049240950003 HARPER …
Crude oil prices rebounded along with OK energy stocks
Crude oil prices rose by more than $5 a barrel both in the U.S. and overseas in Monday’s trading as investors were spurred by growing worries over gas supply from Russia and a lower dollar. Those worries apparently offset concerns about a possible recession in the U.S. and across the world and the growing …
More U.S. wells go into production
The nation’s total of drilled but uncompleted wells was trimmed considerably from May to June reported the U.S. Energy Information Administration. The nation’s total dropped from 4,271 in May to 4,245 as of June. The largest decline was reported in the Permian Basin where the count fell from 1,244 as of May to 1,214 …
OK Regulator says OGE bond results are “horrifying”
Oklahoma Corporation Commissioner Bob Anthony, the lone regulator who did not support the use of securitization for ratepayer bonds to help OG&E with extreme winter storm costs came out this week saying it’s clear the true impact on customers “was grossly misrepresented.” He opposed the bonds and a 28-year amortization in which OGE customers …
Higher bond interest rate means more cost to OGE customers
Surprising news that ratepayer-backed bonds sought to cover Oklahoma Gas and Electric February 2021 winter storm costs were sold last week at a much higher interest rate than originally predicted means a higher total cost to consumers. As OK Energy Today reported earlier, the anticipated monthly cost to OG&E customers of $2.12 will soar …
Bice pushes Act to increase Mesonet systems
Oklahoma congresswoman Stephanie Bice joined New York Democratic Rep. Paul Tonko in recently introducing a bill to increase the nation’s Mesonet weather program. Together, they filed the National Mesonet Authorization Act to increase the overall coverage and accuracy of the program. The Mesonet is critical in providing reliable, real-time observation capabilities for the environment …