February 23, 2023 archive

Permits to drill for February 23, 2023

Alfalfa County KAREN #1, February 23 2023 29 29N 12W NWSESWNE API: 00320979 Lat: 36.96483684100035, Long: -98.51559721238158 TRANS PACIFIC OIL CORPORATION SH, RC, 5850 ft, MISSISSIPPIAN(4880), MISENER(5290), SYLVAN DOLO(5300), SIMPSON GROUP(5445) Grady County STMU #6-4-2 INJ, February 23 2023 08 3N 5W SWNENWNW API: 05125013 Lat: 34.752309407007985, Long: -97.75398454582033 MACK ENERGY CO DH, DR, 10592 ft, MORROW …

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Completion reports for February 23, 2023

ALFALFA COUNTY Aexco Petroleum Inc Miss’an Lm(5900): Oil 165 Gas 747 Water 557 Pump 19 25N 11W Mcdaniel 3-18h, December 07, 2022 HH, OIL, TD: 11490 ft Lat: 36.63682, Long: -98.42420 API: 35003234090000 Bce-mach Llc Mississippi(5022): Oil 18 Gas 869 Water 1590 Esp 7 28N 11W Davis 7-28-11 2h, November 01, 2022 HH, GAS, TD: 10228 ft Lat: 36.91396, Long: -98.41903 API: 35003234160000 CANADIAN COUNTY Citizen Energy …

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2022 earnings drop for OGE Energy Corp. but not OGE

  OGE Energy Corp., the parent company of Oklahoma Gas and Electric Company reported a drop in earnings per share in 2022 compared to the previous year, but OG&E saw earnings growth for the year. Earnings for OGE Energy Corp were $3.32 per diluted share for 2022, down from the $3.68 reported for 2021. Its …

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Crude oil in storage at Cushing hub continues to grow

  As U.S. crude oil production makes gains, so is the amount of crude in storage at Oklahoma’s Cushing hub. The latest information from the U.S. Energy Information Administration showed Cushing held 40.4 million barrels of oil as of February 17, 2023. A year ago, the hub maintained only 23.8 million barrels. The increase to …

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Crude oil prices gained 2% and OK energy stocks scored well too

  Thursday’s trading resulted in a turn-around for crude oil prices as they settled up 2% on growing worries of steep cuts to Russian oil production in March. As a result, Oklahoma energy stocks also recorded significant gains for the day. West Texas Intermediate crude rose $1.44 per barrel or 2% to settle at $75.39 …

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US rig count increased while Anadarko Basin reported drop in numbers

    The rig count in the Anadarko Basin slipped in the past week while others across the U.S. made gains according to the latest Enverus Data release. Enverus said  the Anadarko Basin shed one rig to hit 67 running. The U.S. rig count reached 856 during the week ended Feb. 22, rising by 11 …

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Prevention of natural gas bans taken up by New Mexico legislature

  New Mexico legislators are leaning toward adopting a bill similar to what Oklahoma did a few years ago—the prevention of local governments from creating natural gas bans. A bill to stop such action by local governments to restrict the types of fuels provided to residents won recent approval in a New Mexico House Energy, …

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Report says Oklahoma is still among lowest states when it comes to average utility bills

  A new national real estate report shows Oklahoma is among the ten lowest states in the U.S. when it comes to utility bills even with increases built into winter securitization steps taken by major utilities. TNRealEstate released a list of states with the least expensive energy bills and those with the highest. Oklahoma ranked 10th …

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Reports show Ovintiv USA had more success with Canadian County wells

  Ovintiv USA Inc. moved its history of big producing oil well discoveries from Kingfisher County to Canadian County—still in the STACK play and just further south of where it recorded significant producers. The company’s latest filings of completion reports showed six wells, three on one pad and three on another, with production of more …

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Oklahoma City wants Supreme Court to rule against Corporation Commission

  Oklahoma City has made one last pitch to the Oklahoma Supreme Court to overturn a Corporation Commission decision that allows no collection of municipal franchise fees normally collected by utilities that received Winter Securitization bonding support. In a recent filing, the city again argued that last year’s decision for Winter Event Securitization resulted in …

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