November 1, 2023 archive

Phishing hits Corporation Commission

  The Oklahoma Corporation Commission became aware Wednesday that a person or persons is spoofing the email address of its Oil and Gas Conservation Director instructing the recipient to click a phishing link. This email is spam. Recipients should disregard and delete the email. Below is a version of what the recipients are receiving.

AG threatens Corporation Commissioner over collusion allegations—Anthony responds

  A Halloween letter from Oklahoma Attorney General Gentner Drummond was delivered this week to Oklahoma Corporation Commissioner, months after Commissioner Bob Anthony had complained publicly about alleged wrongdoing over the Winter Storm Uri securitization and how it was developed. And it was no prank on the part of the Attorney General. Indeed, it was …

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Crude oil prices slid again on Wednesday while OK stocks were split

Wednesday brought another day of slumping crude oil prices as the fighting expands in Gaza and Israel pushes deeper into the territory in a bid to wipe out Hamas. Prices slid about 1% to a three week low. Oklahoma energy stocks split the day with losses and gains. The slide happened as the U.S. dollar …

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PSO rate hike request to be reviewed by regulators

  The matter of the latest rate hike request made by Public Service Company of Oklahoma, one reduced to $155.2 million or $3.57 more a month for consumers, will be considered Tuesday by Oklahoma regulators. There isn’t a guarantee a vote will occur but the issue is on the agenda of a Thursday afternoon meeting. …

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Chesapeake makes international deal to supply LNG overseas

  In reporting its third quarter financial results this week, Chesapeake Energy also announced a major LNG supply agreement in which the product will be shipped to Japan. The company’s subsidiary, Chesapeake Energy marketing LLC reached what is called a Heads of Agreement with Vitol Inc., an agreement to supply up to 1 million tons …

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3Q results to show how Mammoth Energy weathered its financial storm

  When Mammoth Energy Services Chief Executive Arty Straehla announced second quarter financial results in August, he admitted the second half of the year would be challenging. After all, the company had just signed two non-binding agreements with lenders to refinance and repay its existing revolving credit facility. It also recorded a 16% drop from …

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State leaders how to survive Michelin tire plant closing

  Oklahoma legislators who held a hearing this week into Michelin’s decision to close its tire production plant in Ardmore were careful not to criticize the company. Still, they also mourned the loss of the major company and the huge economic impact the closing will have on southern Oklahoma. “The economic ripple effect that it …

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Keystone pipeline spill in Kansas declared cleaned up

  Cleanup of the 13,000 barrel spill of the Keystone pipeline in northern Kansas has been declared to be officially cleaned up according to the Environmental Protection Agency. It was December of last year when TC Energy’s pipeline leaked oil into Mill Creek in Washington County. This week, TC Energy and the EPA’s regional office …

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ONEOK recorded higher 3Q results—continued quarterly increases

  ONEOK has continued its quarterly jumps in earnings as the firm had higher third quarter results, increasing its 2023 net income by $120 million and boosting EBITDA guidance by $125 million over the second quarter. The growth came as ONEOK also acquired Magellan Midstream in the past month and followed a 13% in earnings …

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Texans to decide on using billions in state surplus on expanded energy projects

  An election in Texas next Tuesday will determine whether the state’s residents want to approve major spending for new power plants, an expansion of broadband access and new water infrastructure. Some $13 billion in spending will be decided by voters as they will decide on several constitutional amendments. The ballot issues came as the …

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