December 2022 archive

OK energy stocks made gains while crude oil prices dropped

  While crude oil prices took a tumble in Thursday’s trading, Oklahoma energy stocks recorded gains for the day. Crude oil prices dropped because of the surge in COVID cases in China, something that resulted in growing fears of a global economic downturn. West Texas Intermediate crude for delivery in February slipped 56 cents to …

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Crude oil in storage at Cushing hub remains steady

  Crude oil in storage at the Cushing hub in northern Oklahoma held steady in the past week. The U.S. Energy Information Administration reported a total of 25 million barrels of oil were stored at the Cushing hub as of Dec. 23, 2022, the latest reporting period. It was down from the 25.2 million recorded …

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State regulators deal with staff shortage

  The Christmas Holiday had an obvious affect on Oklahoma regulators this week as their Thursday morning meeting was nearly 20 minutes late before getting underway. The 9:30 a.m. scheduled meeting finally began at 9:48 a.m. and Chairwoman Dana Murphy immediately apologized, explaining different offices in the agency were short of staff during the holiday. …

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National rig count is steady reported Enverus

  A weekly report on rig activity by Enverus showed only a gain of one rig in the U.S. compared to the previous week. It also indicated a decline of two rigs in the Anadarko Basin while the Permian Basin gained two rigs. The total U.S. count reached 872 during the week ended Dec.28 reported …

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Oil and gas activity remains positive in Texas despite slowdown

  A new Dallas Fed Energy Survey claims oil and gas activity still grew in the fourth quarter 2022 but also showed a slowdown from previous months. The survey by the Eleventh District of the Federal Reserve Bank of Dallas was based on the response of oil and gas executives. It also showed activity was …

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Entergy might have to make $500 million in refunds

  The Federal Energy Regulatory Commission says Entergy Corp owes up to $500 million or ore in refunds to its ratepayers in Arkansas and Louisiana. The rulings on Friday pertained to the company’s management and operation of the Grand Gulf nuclear plant reported the Northwest Arkansas Democrat Gazette. Click here for Democrat Gazette.  

Energy headlines

** The states hit hardest by blackouts in last week’s winter storm have significantly increased reliance on heating homes with electricity over the last decade, putting more strain on the power grid when temperatures plummet. ** General Motors has begun the long process of installing the 40,000 Level 2 charging stations it announced as part of …

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Canoo sues former executives over alleged plot to steal company secrets

  While EV maker Canoo prepares to create a manufacturing plant in Oklahoma City with the help of a $1 million incentive from the city, the company has sued some of its former executives and accused them of plotting to steal company secrets. Business Insider reported the suit claimed the former execs wanted to start …

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Texas Governor wants Atmos Energy investigated following winter freeze

  Texas Gov. Greg Abbott asked Texas regulators to investigate Atmos Energy Corporation after the company asked its customers to cut natural gas use during this month’s winter freeze. Bloomberg reported the governor notified the Texas Railroad Commission on Wednesday asking the agency why Atmos could not provide natural gas services to customers. Click here …

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Energy Department shows interest in Oklahoma’s hydrogen hub

  The plan by Oklahoma, Arkansas and Louisiana to develop the HALO Hydrogen Hub has drawn the reported interest of the U.S. Department of Energy. The three states that launched a partnership earlier in the year are seeking  $1.25 billion in federal funding. Click here for The Oklahoman