Despite a larger-than-expected crude stock draw in the past week, oil settled lower on Thursday and brought Oklahoma energy stocks down too. West Texas Intermediate finished down 51 cents or 0.7% to $72.19 a barrel on the New York Mercantile Exchange. Global benchmark Brent crude closed down 66 cents or 0.8% at $77.59 per barrel …
The U.S. benchmark Henry Hub natural gas price averaged $2.57 per million British thermal units (MMBtu) in 2023, about a 62% drop from the 2022 average annual price, according to data from Refinitiv Eikon. Record-high natural gas production, flat consumption, and rising natural gas inventories contributed to lower prices in 2023 compared with 2022. The …
Denver-based Civitas Resources announced this week it closed on a $2.2 billion acquisition of Vencer Energy’s assets in the Permian Basin. The deal was originally announced last October and involves 44,000 acres in the eastern Midland Basin of West Texas. Production is estimated at nearly 62,000 barrels of oil equivalent a day which will …
Panasonic’s newest EV battery plant, the one being built in eastern Kansas after Oklahoma lost the bidding war, is making progress. Located at the grounds of the former Sunflower Army Ammunition Plant in De Soto, the plant will total 3.1 million square feet with floor space of about 4.7 million square feet, reported the …
Kansas took another step toward government-funded electric charging stations. This week, it announced the selection of six new locations to promote the state’s electric car infrastructure. “As more electric cars and trucks make their way onto Kansas roadways, they will need access to adequate charging facilities,” Gov. Laura Kelly said in an announcement of …
Attorney General Gentner Drummond commended the Oklahoma Corporation Commission (OCC)recently for supporting his effort to halt a residential utility rate increase requested by Arkansas Oklahoma Gas Corporation (AOG). In April, AOG filed a rate change application requesting a major base rate increase that would have resulted in an average monthly increase of $6.40 for …
Williams announced that it has closed its acquisition of a portfolio of natural gas storage assets from an affiliate of Hartree Partners LP for $1.95 billion. The transaction includes six underground natural gas storage facilities located in Louisiana and Mississippi with total capacity of 115 billion cubic feet (Bcf), as well as 230 miles …
Fuel cost reductions and a shift in interim utility rates will add up to savings in the new year for Public Service Company of Oklahoma (PSO) and Oklahoma Gas & Electric Company (OGE) utility customers in Oklahoma. PSO residential customers will start seeing an average fuel-cost reduction of $15.53 per month on their January bill. Additionally, PSO residential customers …
** Offshore wind turbines at two commercial-scale sites are now sending power to the U.S. grid. Moments before midnight on Tuesday, a single turbine near Martha’s Vineyard delivered 5 megawatts of renewable energy to the New England grid, developers said. ** APA Corp. agreed to acquire Permian Basin shale explorer Callon Petroleum Co. for $2.6 billion, the latest in …
Customers of Public Service Co. of New Mexico got a big break this week when state regulators rejected the utility’s effort to recover millions of dollars from customers on investments made in a coal-fired power plant. The Public Regulation Commission means they wo’t have to bear some of the costs linked to the firm’s …
