Chesapeake Energy Corporation plans to release its fourth quarter and full-year financial results on Tuesday, February 21, 2023. The question for investors is—will the fourth quarter be as strong as the third quarter? The Oklahoma City-based company said the release will be made after the market closes on that day. A conference call with …
February 2023 archive
Not much relief seen in Oklahoma gasoline prices
Gasoline prices eased only slightly in Oklahoma in the past week but still remain well over the $3-a-gallon level reported AAA. The group said Oklahoma’s average as of Thursday was $3.12 a gallon, down from the $3.18 reported a week earlier but still 20 cents more than the $2.92 a gallon a month ago. …
Colorado refinery shutdown leads to higher gasoline prices in Rocky Mountains
Colorado environmentalists are learning what happens when the oil and gas industry stops production—gasoline prices skyrocket. It’s what has happened in the state after the December 24, 2022 shutdown of Calgary-based refiner Suncor. The company announced that the 103,000 barrel-a-day oil refinery in Commerce City had been damaged by the extreme cold weather earlier …
Texas divests investments of firms for discriminating against oil and gas
Texas put its new anti-ESG divestiture law to use this week when its Texas Teacher Retirement System divested part of its pension fund from 10 financial firms that were “boycotting” the oil and gas industry. The state’s law, approved in 2021 a year before Oklahoma created an Energy Discrimination Elimination Act following claims of …
Pipeline company predicts growth in Permian’s crude oil production
Crude oil production in the Permian Basin is expected to grow by as much as 500,000 barrels a day this year according to Plains All American Pipeline LP. The company’s prediction came as it reported fourth-quarter 2022 results reported Reuters. Plains All American reported quarterly revenues of $12.95 billion, just short of the $12.98 …
A 2nd Blaine County producer reported by Marathon Oil
Marathon Oil Company reports another Blaine County well with significant oil production of nearly 1,000 barrels of oil a day. The firm filed a completion report this week on the Alta Bia 1511 5-31-30mxh located at 30 15N 11W or about 6 miles south of Watonga. Production totaled 984 barrels of oil a day …
Federal Bank report shows slowdown in region’s energy sector
A new Federal Reserve Bank report from Kansas City indicated the energy sector in the 10-state region that includes Oklahoma slowed slightly for the week ending January 27. Crude oil prices, both WTI and Brent, were down 8.6% and 7.6% respectively over the last quarter. Henry Hub natural gas spot prices were down nearly …
Other stories and their headlines
** A federally sanctioned propane trade association, the Propane Education and Research Council (PERC), is refusing to disclose records about its operations, despite its obligations to do so under the Propane Education and Research Act. ** Solar is set to make up half of new U.S. electric generation installed this year, followed by battery storage, while the pace …
Another gain in crude oil stored at Oklahoma’s Cushing Hub
The nation’s growing buildup of stored crude oil is reflected again at the Cushing Hub in northern Oklahoma where the amount rose over the past week. The U.S. Energy Information Administration reported the Cushing Hub, as of February 3, held 39.1 million barrels of crude oil. It represented an increase of 1.1 million barrels …
Permits to drill for February 8, 2023
Canadian County KUNNEMAN 1407 #2H-29X, February 08 2023 32 14N 7W NWSWSESE API: 01725918 Lat: 35.639503433855296, Long: -97.9636264987163 OVINTIV USA INC MU, DR, 20073 ft, MISSISSIPPIAN(9127) Canadian County KUNNEMAN 1407 #4H-29X, February 08 2023 32 14N 7W NWSWSESE API: 01725919 Lat: 35.639503438740384, Long: -97.96349188768642 OVINTIV USA INC MU, DR, 19650 ft, MISSISSIPPIAN(9020) Canadian County KUNNEMAN 1407 #3H-29X, …
