They’re major pocket book issues and have the potential to affect tens of thousands of utility ratepayers throughout Oklahoma. We’re talking ROFR and the proposed rate hike on renewable energy in Oklahoma. Scott Mitchell and Jerry Bohnen discuss it at length in the latest podcast of Mitchell Talks Energy. Click below to view.
February 26, 2024 archive
Diesel fuel shortage in Europe sends crude oil prices up in Monday’s trading
Europe is facing a shortage of diesel fuel because of Russian sanctions and shipping disruptions and as a result, crude oil prices gained in Monday’s trading. Combine that with limited U.S. refinery output because of planned overhauls and you have a recipe for higher prices. West Texas Intermediate rose $1.09 or 1.43% and settled at …
Higher earnings reported in 4Q by ONEOK
Higher fourth quarter earnings were reported by ONEOK. It also said the 2023 results also increased. In a release on Monday, the company cited net income of $688 million or $1.18 per share in the fourth quarter along with adjusted EBITDA of more than $1.5 billion. At the same time, ONEOK saw a 20% …
Southwestern Energy releases 4Q results
While awaiting shareholders approval of its recently-announced merger with Oklahoma City’s Chesapeake Energy, Houston-based Southwestern Energy Company announced its fourth quarter financial results. It sustained a fourth quarter loss of $658 million or 60 cents a share and finished all of 2023 with a total debt of $4 billion. Its adjusted net income for …
Alliance Resources expands oil and gas holdings and ventures into EV battery manufacturing
Tulsa’s Alliance Resources is primarily a coal-mining company with major operations in the eastern United States. But it clearly has expanded its efforts to become more deeply involved in oil and gas production and exploration and now owns producing wells in the Anadarko, Permian and Williston basins. While admitting in a recent report …
Empire Petroleum is banking on North Dakota projects to make it a good production year
In an update for its North Dakota drilling efforts, Tulsa’s Empire Petroleum said it expects 2024 to be a year of progress. Empire also announced preliminary operational and financial results for the fourt quarter and at the same time, informed investors of the program to further develop the Starbuck Field in North Dakota. The …
Annual shareholders meeting of ONE Gas set for May
ONE Gas, Inc. announced the date of its Annual Meeting of Shareholders. It will be held as a virtual-only meeting format on Thursday, May 23 at 9 a.m. Central Daylight Time. The meeting will also be audio webcast on the ONE Gas website, www.onegas.com. The record date for determining shareholders entitled to receive notice …
Senator Mullin wants halt to EPA tailpipe rule—says he’s committed to fighting it
Oklahoma U.S. Sen. Markwayne Mullin isn’t giving up on his fight against a proposed new EPA tailpipe rule. Last week he joined other Senators and Representatives in urging the President and Shalanda Young, Director of the Office of Management and Budget to halt the rule. Republicans contend it’s a green energy effort to push …
Did Devon Energy’s shift of more money to the Permian Basin work in the 4Q?
After increased oil production along with gains in cash flow and cash balances and reduction in debt during its third quarter, Oklahoma City’s Devon Energy will be releasing its fourth quarter financial report this week. The company will release the report following the close of markets on Tuesday. It will be followed by a …
Effort to close some of Oklahoma’s Open Meetings Act before House Committee
While members of an Oklahoma state House committee prepare to hold a hearing this week on a bill to grant certain exemptions from the Open Meetings Act to the Oklahoma Corporation Commission, a similar attempt in Kansas is reported to be dead. Ardmore Rep. Tammy Townley’s HB2367 would make the three commissioners exempt for certain meetings, …
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