Empire Petroleum in Tulsa announced that Stephen L. (“Larry”) Faulkner has been promoted to Chief Financial Officer for the Company and J. Kevin (“Kevin”) Vann has been named to the Company’s Board of Directors as an independent director. Both appointments were effective April 28, 2023; both were part of a proven operational team that …
May 3, 2023 archive
Ascent Resources provides update in financial notes status
Oklahoma City’s Ascent Resources Utica Holdings, LLC recently provided an update on its financial transactions. It announced it had issued a notice of prepayment to the Wilmington Trust, National Association as the administrative agent for its Second Lien Term Loans that are due in 2025. The Notice calls for the full redemption of the Second …
Haynesville natural gas production hit a record high in March 2023
Data source: Enverus, state administrative data Oklahoma energy companies such as Chesapeake Energy and Devon Energy were part of record dry natural gas production in the Haynesville shale play in northeastern Texas and northwestern Louisiana. The U.S. Energy Information Administration reported production averaged 14.5 billion cubic feet per day (Bcf/d), 10% more than the 2022 …
Right of first refusal bill for utilities filed in Missouri legislature
While a move to expand the Right of First Refusal law in Oklahoma stalled in the legislature, a similar effort is underway in Missouri. There, a legislator filed a bill he contends will give more state control over the construction of power lines across northern parts of the state. KMA Radio reports the bill …
Ovintiv scores with more big producers in Kingfisher County
Mention Ovintiv USA and Kingfisher County in Oklahoma and visions of big producing oil wells come to mind. It happened again as the company reported completions on four wells drilled on a single pad with combined oil production of nearly 4,300 barrels a day. All four Gravitt wells were drilled at 30 15N 7W, …
Short energy stories
** A jury finds all four defendants guilty of bribery conspiracy in a case involving former ComEd executives accused of arranging jobs, contracts and money for allies of former Illinois House Speaker Michael Madigan in exchange for favorable legislation. ** The White House is trying to persuade Congress to pass a 30% tax on the electricity used …
Interior Secretary hit with more criticism in Senate hearing
Interior Secretary Deb Haaland came under more criticism during a Senate hearing this week. The latest blast came from West Virginia U.S. Sen. Joe Manchin who accused Haaland of ignoring federal law that requires fossil fuel and critical mineral development. His heavy criticism came after Wyoming Sen. John Barrasso accused the former New Mexico congresswoman …
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