A gain in revenue in the second quarter was reported by Cactus, Inc. while its operating income was down. At the same time, company leadership is cautious about what the third quarter might bring. The Texas-based drilling company had revenue of $305.8 million and operating income of $48.5 million, compared to first quarter revenue …
August 2023 archive
Record US oil production in late 2023 predicted by government
The U.S. Energy Information Administration (EIA) expects U.S. crude oil production to surpass 12.9 million barrels per day for the first time in late 2023 and to exceed 13 million barrels per day in early 2024. In its August Short-Term Energy Outlook (STEO), EIA forecasts U.S. crude oil production to average 12.8 million barrels per day …
Storms left thousands without electricity
Early-morning thunderstorms sped across central Oklahoma Tuesday, leaving some homes damaged by strong winds, downed power lines and nearly 10,000 customers without power at one point. News 9 TV reported that in Tuttle, high winds left debris strewn over parts of the town, and downed power lines in the area, resulting in power outages …
Williams prices $1.25 billion in Senior Notes
Williams announced this week the public offering of $1.25 billion in Senior notes. The company said it intends to use the net proceeds of the offering for general corporate purposes, which may include the repayment of our near-term debt maturities. The break-down includes $350 million of its 5.400% Senior Notes due 2026 at a …
New clean energy options program approved for Entergy Arkansas
Clean energy options offered by Entergy were recently approved by the Arkansas Public Service Commission. The program is titled “Go ZERO” and it offers commercial and industrial customers options for clean energy. Go ZERO stands for Zero Emissions Resource Options and and allowed customers to acquire clean energy attributes associated with the output of …
Oklahoma among few states with solar manufacturing plants
A new report shows Texas and Georgia lead the U.S. in the number of new solar manufacturing plants following the passage of the IRA nearly a year ago. Oklahoma is among the few states with only one solar project according to the report by PV Tech. Texas has six and Georgia has five …
Oklahoma City’s Ascent Resources releases 2022 ESG report
Oklahoma City’s Ascent Resources,LLC is out with its 2022 Environmental, Social and Governance Report. Among the company’s improvements was a 15% reduction of its Scope 1 GHG emissions from 2021 and 33% since 2020. Scope 1 emissions are defined as direct greenhouse gas emissions from sources controlled or owned by the orgniazation, such as …
Lower gas prices and falling rig counts prove challenging for Nine Energy
Nine Energy’s President and CEO Ann Fox sees some positive signs along with the negative in the second quarter results for her energy company. Revenue for the Texas-based company, which has operations in Oklahoma, was $161.4 million and within the firm’s original guidance. But with a decline in well completions, things have been challenging …
Headlines
** Plains All American Pipeline (PAA) reported strong second-quarter results highlighted by improved operations and a $225 million bolt-on acquisition in the Permian Basin. Plains All American closed on its Permian bolt-on deal July 28 to acquire Diamondback Energy’s 43% share in the OMOG JV LLC pipeline. ** In a letter to Granholm sent Monday afternoon, 29 Republicans led by House …
Permits to drill for August 7, 2023
Johnston County EMERY #17-3H, August 07 2023 08 4S 4E SWNWSESW API: 06920203 Lat: 34.21800286080375, Long: -96.91092074363591 BNK PETROLEUM (US) INC HH, DR, 15906 ft, CANEY(9833) Johnston County EMERY #17-4H, August 07 2023 08 4S 4E SWNWSESW API: 06920204 Lat: 34.218002863454835, Long: -96.91098689813266 BNK PETROLEUM (US) INC HH, DR, 15880 ft, CANEY(9974) Johnston County EMERY #17-5H, August …