Thursday’s trading brought about a 3% gain for crude oil prices as they reached a one-week high and also resulted in 4% gains for Oklahoma energy stocks. The weaker U.S. dollar and a jump in refinery runs in top crude importer China were responsible for the increased oil prices. West Texas Intermediate crude, the U.S. …
June 2023 archive
Remember the nightmare of record high gasoline prices one year ago?
One year ago Thursday, the Oklahoma gas price average reached $4.67 per gallon, setting an all-time record high. It’s almost like a bad dream. But gas prices in the state have dropped 31% since last year, with today’s gas price average sitting at $3.21 per gallon reported AAA. This year, recession fears due to …
Northern Oil and Gas extends holdings in the Permian Basin with $500 million deal
One of the latest acquisitions in the Permian Basin was announced by Northern Oil and Gas, Inc. It reached a deal to acquire a 33.33% undivided stake in the Novo Assets in partnership with Earthstone Energy. Purchase price? $500 million in cash and subject to customary closing adjustments according to the announcement. The assets …
Acquisition of DCP Midstream by Phillips 66 is a done deal
Years after Denver-based DCP Midstream expanded its natural gas gathering assets into Oklahoma, the company’s sale in a $3.8 billion by Phillips 66 has been finalized. Phillips announced this week the completion means it now owns 86.85 of DCP Midstream. The deal included an acquisition of all the publicly held common units representing limited …
Puerto Rico finally makes payment to OKC firm for Hurricane Maria help
Nearly six years after Hurricane Maria devasted Puerto Rico, Oklahoma City’s Cobra Acquisitions, a wholly owned subsidiary of Mammoth Energy Services, has been paid nearly $11 million for its work in restoring electrical power to the island nation. It hasn’t been easy since the company has been in a legal fight with FEMA and …
Sen. Lankford calls for repeal of “Superfund” tax felt at the gas pumps
It’s called the Pay Less at the Pump Act and was introduced in Congress this week by U.S. Sens. James Lankford and John Barrasso, a Republican from Wyoming. Their plan is to lower energy prices for American families by repealing the $10.5 billion “Superfund Tax” on American energy production. “As I predicted, the so-called ‘Inflation …
Energy quick reads
** Sen. John Barrasso (Wyo.), the top Republican on the Senate Energy Committee, called on the Energy Department’s Office of Inspector General to investigate Energy Secretary Jennifer Granholm after she conceded to wrongly telling the committee she does not own individual stocks. ** The right-to-repair movement has suffered a setback in Massachusetts this week. The …
Groups oppose proposed hydrogen hub for New Mexico and 3 other states
New Mexico Gov. Michelle Lujan Grisham has run into opposition over her plan to create an interstate hydrogen energy hub along with the states of Colorado, Utah and Wyoming. It’s coming from a New Mexico coalition of Indigenous and environmental groups who sent a letter this week to U.S. Energy Secretary Jennifer Granholm asking …
Environmentalists challenge Oklahoma lawsuit over lesser prairie chicken listing
In response to a lawsuit filed a few months ago by Oklahoma, Texas and Kansas against the government’s listing of the lesser prairie chicken as endangered, conservationists recently responded in defense of the government’s move. The Center of Biological Diversity and the Texas Campaign for the Environment filed a motion to intervene in defense …
Oklahoma House delegation split votes on censure attempt of Rep. Adam Schiff
Okay, it’s not an energy related story. But I had to point out that when the U.S. House on Wednesday rejected a Republican effort to censure Rep. Adam Schiff, D-Calif., Oklahoma Representatives split their votes. The final vote was 225-196 and included 20 Republicans who joined Democrats in tabling the censure resolution filed by …
