A strong series of thunderstorms, caused by the arrival of a cold front, brought 90 mile an hour destructive winds in southwest Oklahoma and left thousands of customers without electrical power. One building was reported to have been destroyed by strong winds in Frederick in the southwest part of the state. Oklahoma Gas and …
October 4, 2023 archive
Crude oil prices hit with 5% drop and OK energy stocks fell too
Crude oil prices plunged by more than $5 in Wednesday’s trading and most Oklahoma energy stocks followed suit with one energy company recording an 8% tumble in the value of its shares. What prompted the big drop in crude? Fuel demand destruction along with a bleaker economic picture. At least, that’s what the experts …
Cushing Hub in dangerous crude oil storage territory
Crude oil stocks at Oklahoma’s Cushing Hub remained in dangerous territory or close to the minimum operating level, according to the latest petroleum storage update from the federal government. The U.S. Energy Information Administration reported that in the past week, Cushing managed an increase of 100,000 barrels of oil, creeping up from the 22 …
Helicopter flyovers result in $700,000 in EPA fines for firms in New Mexico’s San Juan Basin
Three energy firms operating in New Mexico’s San Juan Basin have been hit with nearly $700,000 in penalties from the EPA for air quality violations discovered through helicopter flyovers. The firms were Logos Operating, LLC, DJR Operating, LLC and Enduring Resources, LLC. They not only have to pay the civil penalties but also carry …
Sen. Mullin thanks Oklahoma’s manufacturers
Oklahoma U.S. Sen. Markwayne Mullin says it’s clear, Oklahoma is open for business. It’s what he highlighted this week which was set aside as National Manufacturing Week, pointing to the growth of small businesses, stakeholders and manufacturers, all 4,200 of them. He credited a few things for the state’s successful manufacturing sector, including the …
Oil and gas put some Oklahomans on Forbes 400 list of billionaires
Oil and gas made Harold Hamm a billionaire. It is why he still on the list of the Forbes 400, the list of the nation’s wealthiese people. Forbes came out with the list this week and ranked the 77-year old leader and founder of Continental Resources as number 30 on the list of 400. …
Supreme Court upholds OKC’s use of Sardis Lake water
The Oklahoma Supreme Court upheld a lower court judge’s ruling in favor of the Oklahoma Water Resources Board in a legal fight over a project by Oklahoma City to divert stream water from the Kiamichi River and Sardis Lake in Pushmataha County. As OK Energy Today a few years ago, the reported case involved …
Mystery investor helps Canoo raise cash
Canoo Technologies announced this week that it has entered into a purchase agreement with a foreign strategic institutional investor, for an investment of $45 million. Canoo and the investor, described as an unnamed foreign strategic institutional investor, agreed to work together in good faith to negotiate one or more additional investments for up to …
Natural gas exports made gains in first half of 2023
The U.S. government reported Wednesday the nation saw an increase in exported natural gas in the first half of 2023 compared to the same period of any previous year. Undoubtedly, some of that natural gas came from Oklahoma and other oil and gas producing states. The U.S. Energy Information Administration stated natural gas exports …
Most trusted energy companies in the world?
When it comes to businesses being considered trustworthy, a new Newsweek and Statista survey found there is very little trust in U.S. energy companies, and certainly none in Oklahoma firms. However, the survey involved firms that had more than $500 million in annual revenue, so it didn’t apply to some U.S. and Oklahoma energy …
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