** Exxon Mobil Corp. warned investors of a $2.5 billion write down of the value of some California operations. ** The U.S. environmental regulatory agency will hold a hearing this week on whether to approve California’s plan to require all new vehicles sold in the state by 2035 to be electric or plug-in electric hybrids. …
January 5, 2024 archive
Will crude prices continue their gains this week?
A 2% gain in US crude oil prices on Friday didn’t help Oklahoma energy stocks much at all as the day reslted in mixed trading. Crude prices gained as tensions rose in the Middle East over the Israel-Hamas conflict. West Texas Intermediate crude rose $1.62 or 2.24% to finish at $73.81 a barrel on the …
Merger announcement for Chesapeake Energy?
If the Wall Street Journal is correct, Chesapeake Energy Corp. and Southwestern Energy Co. could formally announce this week their merger that had been negotiated for the past several weeks, one that would create a nearly $17 billion company. It would also result in the formation of one of the largest natural gas producers …
OGE seeks nearly 14% rate hike for residential customers
Days after Oklahoma Attorney General Gentner Drummond boasted how he helped bring lower utility rates for customers of OG&E and Public Service Company of Oklahoma, OGE made it known it was asking regulators for approval of a $332 million rate hike annually. AARP Oklahoma state director Sean Voskuhl might have put it best. …
Texas restricts injection of oil and gas drilling wastewater in Permian Basin
Texas regulators recently approved more restrictions on oil and gas drillers who return fracking water back to the earthquake in a move to lower the number of earthquakes in the Permian Basin. Taking a cue from what Oklahoma did some years ago, the Railroad Commission of Texas ordered oil and gas firms in Culberson …
