** An estimated 1.1 million gallons of crude oil have spilled into the Gulf of Mexico since Nov. 16, with emergency officials scrambling for nearly a week to locate the source of the leak and determine whether an underwater pipeline had ruptured off the Louisiana coast. ** Occidental Petroleum Corp, W&T Offshore Inc and Talos …
November 2023 archive
Wynnewood Refining Company wins fight with EPA over renewable standards
The CVR Refinery at Wynnewood in southern Oklahoma is among a handful of small refineries that won an Appeals Court battle with the EPA over renewable fuel standard program obligations. The U.S. Court of Appeals for the Fifth Circuit ruled in favor of a group of sixsmall refineries that the Environmental Protection Agency had …
Crude oil fell in pre-Thanksgiving Day trading
Trading on the day before Thanksgiving resulted in a 1% for crude oil prices and a mixed day of trading for Oklahoma energy stocks. The fall in crude prices came as OPEC+ announced a delay until Nov. 30 for its meeting to discuss more possible cuts in crude oil production. Both Brent and WTI experienced …
More gains in crude stocks reported at Cushing and across the nation
The buildup of crude oil stocks in the U.S. continued for another week and the increase included the amount of oil stored at the Cushing Hub in Oklahoma. The nation saw an increase of 8.7 million barrels of crude oil from November 10 to November 17, according to the U.S. Energy Information Administration. The …
Gains reported in Oklahoma and US rig numbers
The latest rig report from Baker Hughes Co., prior to Thanksgiving, showed another gain for the U.S. and for Oklahoma. The state’s rig count saw a gain of one to 38 active oil and gas rigs, still well below the 70 rigs reported one year earlier. The Baker Hughes report indicated Oklahoma started the …
Corporation Commissioner still says PSO rate hike needs to be audited
While Oklahoma Corporation Commissioner Bob Anthony supported a move by state regulators to put a 2.5% cap as part of the Public Service Company of Oklahoma rate case, he couldn’t get support for a detailed audit of what was approved for the utility. He was still critical of the one-page audit provided by PSO …
Corporation Commissioners agree to cap on PSO residential rate hike
Oklahoma Corporation Commissioners didn’t give Attorney General Gentner Drummond everything he wanted in asking them to reconsider a Public Service Company of Oklahoma rate hike that would raise residential rates by another $5.35 a month, but they agreed in part during a meeting on Tuesday. The commission voted 3-0 in support of Drummond’s request …
Mixed crude oil prices on Tuesday while OK energy stocks experienced declines
After rallying for two sessions, crude oil prices on Tuesday were mixed with U.S. crude slipping and overseas oil prices increasing. The day also produced losses for some Oklahoma energy stocks with one firm experiencing a more than 9% drop for the day. It was a sign that investors are cautious as they await the …
Mild Oklahoma weather on Thanksgiving Day
Okay, the drought isn’t ended in Oklahoma and the prospects for rain this Thanksgiving Holiday don’t look exactly strong. But here’s the Thanksgiving Day forecast from Gary McManus, State Climatologist with the Oklahoma Mesonet. “Thanksgiving Day should be nice and mild with clear skies and lots of sunshine. A big front through that night will …
NOG makes acquisitions in Permian and Appalachian Basins
Another oil and gas acquisition has been made in the Permian Basin. Northern Oil and Gas,Inc. announced its purchase of 3,000 net acres located in Lea and Eddy Counties, New Mexico next to where it already has existing interests. The Minneapolis, Minnesota based company did not identify the frim that sold the acreage which …