California-based Foothills Exploration, Inc. announced the acquisition of 545 wells and leases in Oklahoma and Kansas and plans to return many of them to production. Headquartered in Los Angeles, the company obtained the wells through the 100% acquisition of Jubilee Exploration, LLC, an Oklahoma limited liability company. Jubilee owned the wells in northeastern Oklahoma …
March 2023 archive
Investors sought by ONEOK
The latest effort by ONEOK executives to seek new investors involves two conferences. The company said it would take part in the Barclays Investment Grade Energy and Pipeline Corporate Days to be held March 1. The second effort was the Morgan Stanley Global Energy and Power Conference scheduled for March 2. ONEOK, Inc. is …
Kansas moves closer to restricting wind farm lights at night
The idea of putting restrictions on the night-time red lights flashing on wind farm towers is gaining ground in Kansas where such a bill won early support. At the same time, wind farm operator NextEra Energy agreed to employ radar-activated lights that remain off unless an aircraft approaches. The agreement involved wind farm operations …
House Ways and Means Committee to hold field hearing in Yukon
Members of Congress—those who sit on the U.S. House Ways and Means Committee will gather next week at the Express Clydesdales in Yukon. It’s not to visit with the large horses but to hold a second field hearing examining the state of the economy for American workers, farmers and families. Committee Chairman Rep. Jason …
Lucas fights what he calls SEC’s “deeply flawed rule” on climate change
ESG and climate change were the focus of a House Agriculture Hearing this week where Oklahoma Congressman Frank Lucas voiced opposition to efforts of the Securities and Exchange Commission to make farmers and ranchers start using a new disclosure rule. The climate disclosure rule was the top of the Ag Committee’s hearing on “Uncertainty, Inflation, …
Historic documents shredded at Oklahoma Corporation Commission
The Oklahoma Corporation Commission’s preparations for a temporary move out of the Jim Thorpe building while millions of dollars in renovation is underway presented a problem for one Corporation Commissioner. Commissioner Bob Anthony, in a recent meeting, voiced objections to the “shredding” of what he felt were historical documents of Commission minutes. The shredding …
Gulfport 4Q earnings result in expanded stock repurchase effort
Finances improved in the fourth quarter for Gulfport Energy Corporation as the Oklahoma City-based firm with major operations in the Utica play reported $188 million in net cash in stead of an $18.5million net loss it had in the third quarter of 2022. Its efforts were strong enough that Gulfport expanded its common stock …
Kansas AG is first to accuse gas company of profiting off 2021 winter storm
Kansas Attorney General Kris Kobach made an unprecedented move this week—he sued a natural gas company and accused it of manipulating prices during the 2021 winter storm that also drove energy prices to sky high limits in Oklahoma. Kobach filed suit against Macquarie Energy LLC of Houston and accused if of manipulating the price of …
Oklahoma Representatives voted to kill Labor Department’s ESG rule
All five members of the Oklahoma delegation in the U.S. House voted this week in support of a bill to kill the Biden administration’s ESG rule, one that encourages private retirement plan fiduciaries to consider environment, social and governance factors. Reps Bice, Brecheen, Cole, Hern and Lucas were among the 216 House members who …
Quick energy reads
** President Biden may be close to issuing the first veto of his presidency as Congress is expected to pass a resolution disapproving of a Department of Labor (DOL) rule allowing retirement plan managers to factor environment, social and governance (ESG) into their investment decisions. ** Power from zero-carbon sources made up a full 41% of the …