You know what the number one topic was when Scott Mitchell and Jerry Bohnen of OK Energy today held their weekly energy discussion. Of course,it had to be the attorney general’s decision to press forward with possible charges or a lawsuit against those who gained billions of dollars through alleged market manipulation during the …
July 28, 2023 archive
Energy headlines
** Exxon Mobil Corp. fell short of analysts’ expectations with a third straight drop in profit — the longest decline since the 2014-2016 oil-market crash — amid weaker natural gas prices and shrinking returns from fuel sales. ExxonMobil reported profits of $7.9 billion, down 56 percent on a 28 percent drop in revenues to $82.9 …
Permian Basin group adds 21st member
A 21st member has joined the Permian Strategic Partnership, the organization that includes some Oklahoma companies whose goal is to responsibly develop resources ni the Basin. ChampionX, a global leader in chemistry solutions, artificial lift systems, emissions technologies and other engineered eqipment joined this past week. Oklahoma’s Devon Energy, Helmerich & Payne and …
Mullin bill wins House approval and heads to President’s desk
Whether President Biden will sign the measure is one thing, but the House and the Senate have now passed Oklahoma Sen. Markwayne Mullins bill to reverse the president’s unprecedented and overreaching endangered classification of the northern long-eared bat. Mulling said his bill was to cut “runaway regulation” and reverse Biden’s harmful bureaucratic penalties that …
DEQ to offer $3.5 million in emissions reduction program
Nearly $3.5 million coming from the Volkswagen Settlement Trust will be made available through Oklahoma’s Department of Environmental Quality to help firms replace or repower aging equipment. DEQ explained it is seeking projects in the name of reducing nitrogen oxides emissions. The projects are four non-road categories—freight switchers; ferries or tugs; airport ground support equipment; and forklifts and …
Crude finished with 5th straight week of gains
Crude oil prices recorded a fifth straight week of gains and Oklahoma energy stocks made improvements too on Friday. Investors were reported to be optimistic that healthy demand and supply cuts will keep the prices high reported Reuters. Both WTI and Brent crude gained nearly 5% for the week due to supply cuts from …
Forecast says Permian Basin oil production in New Mexico will peak in a few years
If the experts are accurate, oil production in New Mexico’s share of the Permian Basin will peak in 5 to 10 years. It’s what New Mexico legislators were recently the State’s Chief Economist Leo Delgado who attributed the prediction to national forecasters IHS Markit and Moody’s Investors Service. If so, New Mexico could begin …
Another Ovintiv well reported in Kingfisher County
Newly-filed completion reports show Ovintiv USA Inc. extended its success in Kingfisher County with a November 2022 well that had production of more than 1,200 barrels of oil a day. The completion report on the Coffey 1507 3h-27x, located at 27 15N 7W , a site about 3 miles south of the city of …
House votes to delist lesser prairie chicken as endangered
The House has approved two resolutions to repeal the lesser prairie chicken’s status as a threatened species and return autonomy to local farmers, ranchers and wildlife agencies in Oklahoma. Oklahoma’s House members voted for the measure as it was passed on a 220-209 vote. “Listing the Lesser Prairie Chicken as a threatened species creates …
