** BP became the latest energy company to announce huge profits on Tuesday (August 2). The company said it made a second quarter profit of just under $8.5 billion – its highest in 14 years. ** A deal has been secured for Congress to pass and President Joe Biden sign a permitting package to speed up the completion …
August 2022 archive
Senators to fight Democrats’ spending bill
Republicans in the U.S. Senate, likely to include Oklahoma U.S. Sens. Jim Inhofe and James Lankford are expected to employ a little-used strategy in fighting the Democrats’ $433 billion spending bill, one aimed at climate change. Bloomberg reports that they’re planning to challenge many of the provisions in the 725-page, $433 billion bill using …
Oklahoma Stock Closing Prices as of Monday, August 1, 2022
Alliance Resource Partners, L.P. 22.93 USD+1.02 (4.66%) Blueknight Energy Partners LP Common Stock 4.67 USD+0.0100 (+0.21%) Chesapeake Energy Ord Shs 90.42 USD-3.75 (3.98%) Continental Resources, Inc. 67.93 USD+1.39 (1.39%) Coterra Energy Inc 29.57 USD-1.02 (3.33%) Devon Energy Corp 61.57 USD-1.28 (2.04%) Empire Petroleum Corporation 10.75 USD-0.25 (2.27%) Gulfport Energy Corp 86.29 USD-5.75 (6.25%) Helmerich & Payne, Inc. 45.27 USD-1.03 (2.22%) LSB Industries, Inc. 13.28 USD-0.53 (3.84%) Laredo Petroleum Inc 86.44 USD-2.23 (2.51%) Magellan Midstream …
Regulatory Commission Chairs Recommend Power Reliability Forum to Improve Infrastructure
As extreme weather continues to strain the nation’s electric grid, FERC Chairman Rich Glick and Jim Robb, President and CEO of the North American Electric Reliability Corporation (NERC), encouraged the North American Energy Standards Board (NAESB) to convene a forum to identify solutions to the reliability challenges facing the nation’s natural gas system and bulk …
Edmond Begins Smart Meter Upgrade Project This Month
Edmond residents will receive a new technology boost as the city begins rolling out its upgraded Smart Choice meters in August. Smart Choice contractors are scheduled to begin an 18-to-24-month project, exchanging all the current electric and water meters for smart meters in homes and businesses throughout Edmond. Smart Choice technology will help improve service …
A 2Q increase in income for ONE Gas
ONE Gas, Inc. reported an increase in its second quarter 2022 net income which totaled $32.1 million or 59 cents a share. The total compared to the $30.1 million and 56 cents a diluted share reported in the second quarter of 2021. The newest quarterly income brought the year to date 2022 net income …
Williams reports strong second-quarter results and raises guidance
Williams reported a 32% increase in its second quarter net income of $400n million which translated to a 33-cent a diluted share. The increase is compared to the second quarter of 2021 as the latest quarterly report showed adjusted net income of $484 million or 40 cents a diluted share. That represented a 48% …
Devon Energy reports nearly $2 billion in 2Q net earnings
The second quarter proved to be another strong one for Oklahoma City-based Devon Energy as the firm reported $1.9 billion or $2.93 per diluted share. Adjusting for items analysts typically exclude from estimates, the company’s core earnings were $1.7 billion or $2.59 per diluted share. Devon also reported its highest quarterly amount of free …
Hertz plans expansion of EV cars in its fleets
Hertz is making a major expansion of its electric vehicle fleet.The company announced it ordered 100,000 Teslas to add more choices to its line-up of electric cars reported the Fort Myers News-Press.Click here for News-Press
Nation’s emergency petroleum level to lowest in 37 years
The federal government reported Monday the nation’s emergency crude oil stockpile, the one being drained by President Biden is down to its lowest level since 1985. The Department of Energy issued a report on the Strategic Petroleum Reserve reported Reuters. Click here for Reuters