Not only did a surprise increase in US crude stocks send crude oil prices tumbling on Wednesday, it was more of a surge in stocks. The U.S. Energy Information Admininstration reported stocks rose by more than 7 million barrels while the Cushing oil hub also saw a gain. Nationally, crude stocks soared from 453.6 …
May 1, 2024 archive
Crude plunged 3% in Wednesday’s trading and took Oklahoma energy stocks with it
Not only did crude oil prices plunge nearly 3% to a seven-week low on Wednesday, it took Oklahoma energy stocks on a downward spiral too. Oil fell on an unexpected build in US crude stocks along with the Fed decision not to cut near-term interest rates which could have increased oil demand. West Texas Intermediate …
Western Oklahoma visited by more tornadoes
Oklahoma was plagued by more tornadoes Tuesday evening, just days after nearly 25 tornadoes ravaged the state and left four people dead and the cities of Marietta and Sulphur with severe damage and destruction. The western city of Cordell was struck by one of the Tuesday tornadoes, but no one was injured. It was …
Landowners ROFR bill signed into law in Oklahoma
The Landowner’s Bill of Rights of what some have labeled as a Right of First Refusal bill is now law in Oklahoma. Gov. Kevin Stitt signed HB 3159 into law, thereby giving landowners the right of first refusal if the land is ever sold by the state or anyone who received the land through the …
Oklahoma Governor Stitt fights Air Force to put Air Guard units in the Space Force
Put Oklahoma Gov. Kevin Stitt among most of the nation’s governors fighting a plan by the Air Force to transfer Air National Guard units with space missions into the active-duty Space Force, a move that would effectively remove state authority over those units. He and governors of 47 other states as well as five U.S. territories are …
Weak natural gas market resulted in missed profits for Chesapeake Energy
After announcing a planned merger with Southwestern Energy in January, Oklahoma City’s Chesapeake Energy reported first quarter earnings results with lower net income but increased net cash from operating activities. It also confirmed it continues with a reduction in some drilling efforts and because of a weak natural gas market, is expanding efforts to …
ONEOK’s 1Q earnings could have been stronger
ONEOK, Inc.’s first quarter earnings report came in weaker than anticipated but for the year, the company had strong earnings. Net income was $639 million or $1.09 a share and the Tulsa-based firm saw increased natural gas volumes. But here’s where things were not as strong as leaders would have liked. Its adjusted EBITDA …
New Commerce Department leader named by Governor Stitt
Jenks Chamber of Commerce president and CEO Heather Turner was named this week by Gov. Kevin Stitt to be the next executive director for the Oklahoma Department of Commerce. “Heather’s time at Jenks Chamber of Commerce is marked with impressive vision and growth. Her work advocating on behalf of businesses in Jenks has …
North Dakota governor turns down EV expansion funding request—says EVs and cold weather aren’t a good mix
As Oklahoma and other states make slow progress on an expansion of charging stations for electric vehicles, the Governor of North Dakota turned aside a request this week to fund a regional plan for EVs. North Dakota cold weather and EVs don’t mix, he said. Gov. Doug Burgum questioned the need for it, pointing …
Carbon removal startup fills Kansas salt caverns with CO2 slurry
Vaulted Deep is injecting carbon-rich slurry at its site in Hutchinson, Kansas. (Vaulted Deep) While empty salt mines remain under the city of Hutchinson, Kansas, a place that once boasted of the home of Carey Salt, another company is using the mines to rid the country of CO2. The Houston, Texas company Vaulted Deep has …
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