A report indicated that rising storage levels at the Cushing hub in Oklahoma is putting pressure on futures prices which could help ease U.S. inflation. Reuters reported the shrinking discount of U.S. crude to Brent and rising Canadian oil imports will send more barrels to Cushing. Click here for Reuters
August 2022 archive
TransAlta Posts 2Q 2022 Financial Results and Oklahoma Wind Project Updates
Calgary-based TransAlta Corporation reported revenue for the three and six months ended June 30, 2022 increased by $47 million and $64 million respectively compared to the same periods in 2021. The increase in revenues was due to higher wind resources in Canada, incremental production from a Canadian wind facility and higher environmental credit sales partially offset by the extended site outage at …
Ascent Resources Finalizes Utica Acreage Purchase From XTO Energy
Oklahoma City-based Ascent Resources, LLC announced Friday that it has closed on the previously announced bolt-on acquisition with XTO Energy, a subsidiary of ExxonMobil Corporation, in the Utica Shale in Ohio for a total purchase price of $270 million, subject to customary closing purchase price adjustments. Ascent financed the transaction with a combination of cash on hand and …
Heat.gov Launched for Communities Facing Extreme Heat
As Americans deal with record-breaking temperatures and extreme heat this summer, the Biden Administration recently launched Heat.gov, a national integrated heat health information system with tools for communities facing extreme heat. Heat.gov will provide a one-stop hub on heat and health for the nation. It’s a priority of President Biden’s National Climate Task Force and its Interagency Working …
Oklahoma Energy Index Shows Strength Despite Concern Over Possible Recession
The latest monthly release of the Oklahoma Energy Index (OEI) reflects optimism in Oklahoma’s economy and the state’s oil and gas industry. Petroleum Alliance of Oklahoma President Brook A. Simmons points to geopolitical events and drilling activity as two positive factors. Public officials are compelled to recalibrate the role that stable, affordable energy supplies play …
Rep. Mullin—challenges of living under a Biden administration
In his latest “Mullin’ it Over” column to constituents, Oklahoma Rep. Markwayne Mullin touched on two subjects—high energy costs and his attempts to expand broadband coverage in eastern Oklahoma. The U.S. Senate candidate said inflation, supply chain issues and higher energy costs have brought optimism among small business owners to the lowest it has …
Senate Votes to Overturn Biden Administration Environmental Rule
The U.S. Senate voted to overturn a Biden Administration rule requiring rigorous environmental review of major infrastructure projects such as highways, pipelines and oil wells, according to a published report by the Associated Press. The measure was approved on Thursday by a vote of 50-47 as Democratic Sen. Joe Manchin of West Virginia sided with …
Energy Transfer to Acquire Woodford Express, LLC in $485 Million Deal
Dallas-based Energy Transfer signed an agreement to acquire Woodford Express, LLC, a Mid-Continent gas gathering and processing system for approximately $485 million. The acquisition was revealed by the company’s Co-Chief Executive Officer, Tom Long, during Energy Transfer’s Q2 2022 earnings conference call on Wednesday. “This bolt-on opportunity will provide a roughly 450 million cubic foot …
US EIA Issues Permian Basin Natural Gas Pipeline Project Update
The U.S. Energy Information Administration issued its latest Natural Gas Pipeline Project Tracker on Thursday to include five new projects—four newly announced projects and one project under construction—since its last update in April 2022. Of the four new projects, three will expand capacity for existing pipelines and one will be a new pipeline. If completed …
Devon Announces STEM Program With OSU and OU
Oklahoma City-based Devon Energy is collaborating with Oklahoma State University and the University of Oklahoma through the creation of a learning platform that combines science, technology, engineering and math (STEM) with sports. SportsLabs is a five-year pre-game project that will be held at fan fests during football, basketball and other select sporting events on each …