The number of active oil and gas rigs across the U.S. declined by one to 621 rigs while Oklahoma’s numbers remained unchanged, according to a release by Baker Hughes Co. on Friday. The US count saw an addition of one oil rig for a total of 501 while the number of gas-drilling rigs declined …
** 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. …
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 …
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 …
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 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 …
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 …
