After second quarter net sales rose from $141million in 2021 to nearly $285 million in 2022, Oklahoma City’s LSB Industries plans to release its third quarter earnings report on Nov. 1, 2022. The firm plans to release the report after the close of the stock market on that Tuesday. LSB’s management will host …
October 2022 archive
Increase in US crude oil production in first half of 2022
Data source: U.S. Energy Information Administration, Monthly Crude Oil and Natural Gas Production Note: Density is measured using the API gravity scale. In the first half of 2022, U.S. crude oil production averaged 11.1 million barrels per day (b/d), up from an annual average of 10.8 million b/d in 2021. Crude oil with a higher API gravity is …
Corporation Commission to meet Wednesday
Oklahoma regulators will meet Wednesday morning to consider finalizing some proposed changes in petroleum storage tank rules. Corporation Commissioners were presented with the changes last week but delayed a decision until Wednesday’s meeting at 9:30 a.m. They will also hold a discussion on the agency’s financial activity including a review of August 2022 financials. …
Higher diesel fuel prices mean higher costs for consumers
The cost of diesel fuel has a direct impact on consumers, whether they know it or not. When the cost of running a big 18-wheeler down the road goes up, so do the costs of the trucker and in turn the cost of shipping goods across Oklahoma and the nation. Whether it’s eggs, chickens, …
Other headlines
** Senate Foreign Relations Committee Chairman Robert Menendez called Monday for freezing all U.S. cooperation with Saudi Arabia, delivering one of the strongest expressions yet of U.S. anger over Saudi oil-production cuts that serve to boost Russia in its war in Ukraine. ** JPMorgan CEO Jamie Dimon said the US should pump more oil amid the world’s …
OU students win Energy Department’s Geothermal Collegiate Competition
Students from a school of petroleum and geological engineering may not be obvious choices for a $10k geothermal prize—but in winning this year’s U.S. Department of Energy Geothermal Collegiate Competition, the University of Oklahoma team proved that oil and gas industry knowledge can transfer to geothermal energy development. “Geothermal is the future,” said competition participant …
Biden’s agreement rejected by rail union raising specter of a strike
The Biden White House might be getting nervous over the temporary agreement it reached last month to avert a possible nationwide railroad strike, after the country’s third-largest freight rail workers union rejected the deal this week. It means there still could be a strike next month after the Brotherhood of Maintenance of Way Employees Division …
Not kidding—New Zealand wants tax on farting cows
The idea that farting cows are adding to greenhouse gas emissions of the world was so preposterous when promoted by Congresswoman Alexandria Ocasio-Cortez, she was nearly laughed out of the U.S. House. But the government of New Zealand has taken the discussion a giant step further by actually proposing to tax the greenhouse gasses …
Completion reports for October 10, 2022
completions: none were processed today
Permits to drill for October 10, 2022
Grady County NELLI #3H-30-31, October 10 2022 30 8N 7W NESENWSE API: 05124978 Lat: 35.136027259849605, Long: -97.97575252762951 CITIZEN ENERGY III LLC MU, DR, 22300 ft, MISSISSIPPIAN(14900), WOODFORD(15000) Grady County NELLI #1H-30-19, October 10 2022 30 8N 7W NWSENWSE API: 05124976 Lat: 35.136027264514716, Long: -97.97565219478919 CITIZEN ENERGY III LLC MU, DR, 22800 ft, MISSISSIPPIAN(14200), WOODFORD(14300) Grady County NELLI …
