Alpine Silica Holding, a frac sand supplier which started sand mining operations in Oklahoma six years ago, plans to go public. Alpine’s parent company, ProFrac Holding Corp filed paperwork this week. Alpine is ProFrac’s proppant production segment and has existing operations throughout Louisiana and Texas. Alpine Silica, ProFrac’s proppant production segment and wholly owned …
February 2024 archive
Giant New York investment fund plans to divest holdings in Oklahoma oil firm
Tulsa’s Unit Corporation is one of eight oil and gas companies targeted by the New York State Common Retirement Fund which plans to divest investments over the readiness of the firms to move to a low-carbon economy. According to a report by Reuters, the divestment plan was confirmed by New York Comptroller …
Cow manure is focus of efforts to overturn EPA proposed rule
Forty-six U.S.House members, Democrats and Republicans alike, signed a letter this week to the EPA asking it not to force America’s farmers to report air emissions on manure. You know….cow and horse poop or chicken litter. The kind of stuff that covers your boots when you walk through a barnyard or feed lot. Yes, …
Surge in crude stocks across U.S. and the Cushing Hub
A more than 12-million barrel jump in U.S. crude inventories sent crude oil prices plunging on Wednesday and crude stocks at the Cushing Hub in Oklahoma added to the surprising surge. U.S. inventories rose to 439.5 million barrels last week according to the U.S. Energy Information Administration. Analysts had expected only a 2.6 million …
$1 a barrel tumble by crude oil prices
Growing U.S. oil inventories sent crude oil prices sliding by a dollar a barrel in Wednesday’s trading. Investors fear the growing crude inventory could result in less demand for oil in the nation. West Texas Intermediate, the US benchmark, dropped $1.23 or 1.6% to settle at $76.64 a barrel on the New York Mercantile …
Big quarter for Williams Cos.
What a quarter for Williams Cos. Sixty-percent increase in net income, 5% gain in adjusted net income, 24% increase in cash flow and an increased dividend. Results for the quarter that ended Dec. 31, 2023 were released early Wednesday showing net income of $3.273 billion or $2.68 per share, an increase of 22% compared …
Williams CEO says Biden’s LNG freeze could “backfire” and result in more coal use worldwide
Could President Biden’s freeze on permits for US LNG export terminals harm the environment rather than help it as he and his environmental supporters claim? Williams Companies CEO Alan Armstrong thinks so and here’s how—it could bring about more coal use overseas. That’s what he told Reuters this week, saying Biden’s moratorium could backfire …
Energy quick reads
** Exxon and Canada-based crude pipeline operator Enbridge were sued in Illinois federal court on Tuesday over claims they barred a competitor from building a terminal to ship oil by barge from the Chicago area to refineries in the Midwest and Gulf of Mexico. ** House Small Business Committee Chair Roger Williams, R-Texas, is demanding answers …
New Mexico moves closer to imitating California over climate change laws
Battle lines are drawn in New Mexico where Democratic legislators want to be more like California in clamping down on fossil fuels and seeking climate change goals. The latest conflict? A bill aimed at reducing climate-warming pollution from cars and trucks. The New Mexico Senate passed it on a 26-15 vote this week with …
Another tire maker follows Michelin’s decision in Oklahoma
Four months after Michelin North America announced it planned to close its tire plant in Ardmore, Oklahoma, another tire company has announced similar plans and for the same reason—changes in tire demand as a result of the electric vehicle industry and the cost of meeting those demands. Michelin issued a statement in November …
