** The Energy Information Administration at the U.S. Department of Energy believes the price of petroleum products (crude oil, gasoline and diesel) will decline 5% to 10% this year from its previous predictions. EIA’s forecast crude oil will average $77 per barrel in 2023, which is $11 less than its previous prediction of $86. ** U.S. natural gas futures …
January 24, 2023 archive
Record $25 billion in taxes and royalties from Texas oil and gas industry
All of the increased drilling in the Permian Basin of West Texas helped produced nearly $25 billion in taxes and royalties in 2022. The Texas Oil and Gas Association unveiled the figures this week showing a record $24.7 billion, far more than than the $16 billion reported in 2019 reported Bloomberg. Click here for …
Blackrock Inc. remains a major investor in two Oklahoma energy firms
Investment firm Blackrock Inc. certainly has been criticized for its anti oil and gas stance in the past few years and targeted with laws like Oklahoma’s Energy Discrimination Elimination Act, but it remains a large investor in ONEOK and ONEGAS. A filing made this week with the Securities and Exchange Commission revealed Blackrock, considered …
Energy Secretary at odds with Oklahoma Representatives over Strategic Petroleum Reserve
The gauntlet’s been thrown as far as Oklahoma members of the House are reportedly concerned in the fight over the bill they support to stop the President from using the Strategic Petroleum Reserve for political purposes. All five members indicated their support last week for the Protecting America’s Strategic Petroleum Reserve from China Act …
Oklahoma’s collapsed wind tower among growing number throughout the world
The collapse of a wind turbine last June in northern Oklahoma near the town of Ames was jus one of a growing number of such incidents in the wind power industry. Such collapses, often involving some of the tallest wind towers in the industry have also occurred in Colorado, Germany and Sweden reported Popular …
OGE to release quarterly results
After an improved earnings report in the third quarter of 2022, OGE Energy Corp., parent company of OG&E plans to release the fourth quarter results in February. The company announced it will hold a quarterly conference call to discuss the newest results at 8 a.m. Central time on Thursday, Feb. 23, 2023. In the …
Four wells on a single Canadian County pad produced more than 5,200 barrels of oil a day
Another series of Ovintiv wells in Canadian County was reported this week by the company which has a history of big producing oil wells in Oklahoma’s STACK play. Four of the wells were on a single pad and produced more than 5,200 barrels of oil a day. This time, Ovintiv drilled four Hufnagel wells …
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