Among the 58 projects announced this week by the U.S. Energy Department to receive $3.5 billion in funding from the government is one in Oklahoma. The funding is aimed at electrical grid resilience projects in 44 states, marking the largest single fedral investment in the electrical grid in the history of the U.S. Oklahoma …
October 2023 archive
Study says Oklahoma is not a very energy efficient state
Oklahoma was in the bottom tier of states when it comes to those that are considered to be the most energy efficient, according to a report released by WalletHub. It was ranked 41st lowest for overall efficiency but 39 for Home Energy efficiency. The state had a number 37 ranking for Auto efficiency. According …
Devon looking to make acquisitions?
If the reports are right, Devon Energy Corp. is in the hunt for an acquisition, one aimed at widening its holdings in the Permian Basin. Bloomberg and Seeking Alpha reported this week that Devon is considering what they called “major acquisition targets” and one of them is reported to be Marathon Oil Corp. People who …
ONEOK dividend is declared
ONEOK’s board of directors declared a quarterly dividend of 95.5 cents per share this week, an amount unchanged from the previous quarter. The company said it would result in an annualized dividend of $3.82 per share. It will be payable Nov. 14, 2023 to shareholders of record at the close of busines Nov. 1, …
Senators file legislation to block EPA’s tailpipe emissions rules
Senators James Lankford and Markwayne Mullin are among 25 Senate Republicans who introduced legislation to block the Biden administration from implementing regulations targeting gas-powreed car tailpipe emissions. West Virginia Democrat, Sen. Joe Manchin joined their effort. Idaho Sen. Mike Crap led the proposal to strike down the EPA proposal that would tighten vehicle tailpipe …
Crude makes 2% gain on unexpected high drawdowns
A surprise U.S. crude oil draw, including more oil removed from Oklahoma’s Cushing Hub, led Wednesday to a 2% gain in prices. Plus, concerns about global supplies after Iran called for an oil embargo on Israel pushed prices higher. But Oklahoma energy stocks didn’t take the same path. Most recorded losses as much as 5% …
Exploration firm Mach Natural Resources to go public
Mach Natural Resources LP is planning to go public with an initial public offering of 10 million common units representing limited partner interests in the Oklahoma City company. In an announcement this week, Mach said it will also grant the underwriters an option to purchase up to an additional 1,500,000 common units at the initial …
Crude oil stocks fall again in U.S. and Cushing
The nation’s crude oil stocks fell 4.5 million barrels in the most recent reporting period while the amount held at the Cushing Hub in Oklahoma dropped nearly 1 million barrels. The U.S. Energy Information Administration reported the nation’s crude stocks fell from 424.2 million barrels recorded on October 6 to 419.7 million barrels as …
Senators Lankford and Scott want to re-freeze Iran’s $6 billion
At the heart of the $6 billion in frozen Iranian money that has become a focal point of efforts by Oklahoma U.S. Sen. James Lankford and others to see it frozen in Qatar is oil. It is oil money and Lankford wants to reverse efforts by President Biden to ease sanctions against Iran, easing …
1973 Oil Embargo remembered by national oil and gas leader
Remember the 1973 Oil Embargo? Fifty years ago this week, something that Oklahoma oilman Harold Hamm remembered last week during comments at the OERB Oil and Gas Expo. He pointed out it revealed the need for a strong U.S. energy policy, one built on independence and how since 1973, the U.S. is no longer …
