A steep drawdown in U.S. fuel stockpiles along with Saudi and Russian output cuts led to new peaks for oil prices on Wednesday. Brent crude, the global benchmark, reached its highest since January, setting up $1.38 or 1.6% at 487.55 a barrel on ICE Futures Europe. It was the highest level since Jan. 27. U.S. …
August 2023 archive
Ozone alert issued for OKC and Tulsa on Thursday
The Oklahoma Department of Environmental Qualityissued an ozone alert for the Oklahoma City and Tulsa metropolitan areas for Thursday, August 10, 2023. This alert will initiate the issuance of an “Ozone Alert Day” for the Oklahoma City area by the Association of Central Oklahoma Governments, and an “Ozone Alert Day” for the Tulsa area by the Indian Nations …
Decline slows in crude oil stocks at Cushing Hub
Cushing’s drop in stored crude oil took a pause in the past week as it held nearly the same amount of oil as the previous week reported the U.S. Energy Information Administration. The government reported the amount of crude oil held at the northern Oklahoma hub actually increased from 34.5 million barrels at the …
Increased crude oil production forecast for rest of 2023 and 2024
The government came out this week with a revised and increased forecast for U.S. crude oil production in 2023 and 2024. The August Short-Term Energy Outlook from the U.S. Energy Information Administration predicts higher well productivity and higher crude oil prices continuing into 2024. Crude oil prices. The Brent crude oil spot price averages $85 per …
Illegal barriers greet anglers in some New Mexico rivers
Some landowners in New Mexico are turning up their noses at a State Supreme Court ruling that said those who fish the shallow waterways flowing through private property cannot be stopped…as long as they are walking in the water. But it seems some landowners have erected illegal barriers across the waters and in some …
Wednesday meeting scheduled for Oklahoma Corporation Commissioners
Oklahoma Corporation Commissioners are to meet Wednesday to get an update on the agency’s financial status. The agenda for the 1:30 p.m. meeting includes a discussion on a summary of agency financial activity including a review of the June 2023 financials. A possible discussion might be held on FY 2023 and/or FY 2024 by …
Earnings grew in second quarter for OGE Energy Corp.
OGE Energy Corp., the parent company of Oklahoma Gas and Electric Company reported earnings $88.4 million and $0.44 per diluted share during the three months that ended June 30, 2023, compared to $73.1 million and $0.36 per diluted share in the same period of 2022. Earnings for the second quarter of 2022 included a …
Vital Energy doubled net income in 2Q
Tulsa’s Vital Energy, Inc.more than doubled its first quarter net income in the second quarter with $294.8 million and $16.30 per diluted share.The first quarter net income was $113.9 million. Vital’s second quarter adjusted net income was $78.6 million and $4.35 per adjusted diluted share, and cash flows from operating activities totaled $248.9 million. In …
Lawsuits over 2021 deadly Colorado fire are piling up against Xcel Energy
Xcel Energy finds itself with a growing list of lawsuits blaming the power company for the Marshall Fire that destroyed hundreds of homes near Denver, Colorado. Eight civil suits have been filed against the company, blaming it for the fire that started December 30, 2021 and left two people dead and hundreds homeless. The …
EPA petitioned to require accurate measurement of smog-causing pollution from flares at four Colorado oil, gas well pads
Conservation and public-health groups have filed a petition urging the Environmental Protection Agency to require adequate testing of the toxic air pollution emitted by four oil and gas well pads owned and operated by the Bonanza Creek Energy Operating Company. New permits for the facilities fail to require adequate testing of flares used to burn off toxic …