May 15, 2024 archive

Crude oil rebounded on Wednesday with nearly a 1% gain

  Crude oil prices rebounded on Wednesday by nearly 1% and Oklahoma energy stocks recorded gains for the day. Crude oil’s gain was from a two-month low and came about because of crude storage data and an International Energy Agency forecast for weaker global oil demand growth. West Texas Intermediate crude went up 61 cents …

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Air quality alert issued in Oklahoma

  The State Health Department issued an air quality alert on Wednesday, indicating there were “unhealthy” air conditions for sensitive groups. The advisory applied to 5 counties in south central Oklahoma and along I-35. It was the second such alert issued this week by the Department of Environmental Quality. The DEQ urged people with respiratory …

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Attorney General joins utility in warning consumers of solar scams

Attorney General Gentner Drummond and OG&E are partnering to warn Oklahomans about scams involving solar energy equipment and services. Drummond encouraged Oklahomans to remain vigilant in protecting themselves against phone scams. “Fraudsters are always finding new ways to separate unsuspecting individuals from their money, and this latest phone scam is no exception,” he said. “Oklahomans should …

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OERB honors Corporation Commission with land restoration award

  The Oklahoma Corporation Commission’s (OCC) Director of Administration Brandy Wreath accepted the Land Restoration Partnership Award from the Oklahoma Energy Resources Board (OERB) during its inaugural Impact Awards banquet, held Tuesday, May 14, 2024. Wreath attended the event on behalf of the OCC’s Oil and Gas Conservation Division (OGCD) which was recognized by OERB for the division’s efforts to identify and inform the uniquely Oklahoma program of land restoration opportunities. In a small gathering …

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Crude stocks dropped in past week at Cushing Hub and across the US

  Crude stocks across the U.S. and at Oklahoma’s Cushing Hub declined last week, according to a new report from the U.S. Energy Information Administration. The nation saw a drop of 1.5 million barrels of crude oil from 459.5 million as of May 3 to 457 million barrels on May 10. There had been a …

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Empire Petroleum expects increased production in North Dakota to improve revenues

  Tulsa’s Empire Petroleum company says it expects to see increased oil production in 2024 largely because of its extensive drilling efforts in North Dakota’s Williston Basin and the Permian Basin in New Mexico and Texas. In a first quarter report issued this week, the firm reported its average daily oil sales volumes grew by …

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Higher crude oil prices led to increased revenue in April for Oklahoma

    Oklahoma Treasurer Todd Russ reported the April gross production tax for Oklahoma saw a nearly 10% gain from March. He indicated the GPT totaled $90.7 million in revenues for April. It represented an overall increase for the month of $8 million or 9.6%.   The Treasurer attributed the gain to increased crude oil …

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Oklahoma Energy Stocks Mixed

Oklahoma energy stocks had a mixed day Tuesday.  Thirteen of the 22 were higher, with one flat. Here are the numbers: Alliance Resource Partners, L.P. 22.81 USD +0.26 (+1.15%) Canoo Inc 2.65 USD -0.14 (-5.02%) Chesapeake Energy Corp 91.25 USD +1.15 (+1.28%) Coterra Energy Inc 27.81 USD -0.14 (-0.50%) Devon Energy Corp 49.71 USD  -0.12 …

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Wildfire Smoke Entering US Skies From 2 Directions

The US is getting it from both sides.  Smoke from wildfires in Canada is filling northern skies and some people in the southeastern US are having their breathing impacted by wildfire smoke from Mexico.   Scientists are saying this is the new normal.  Hotter, drier conditions in Canada combine with dry grass and underbrush to …

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Peru Grants $800M License Contract For Drilling

Perupetro (PER oo – PET roh) opens the door for additional drilling with approval for an $800 million dollar contract with a consortium of petroleum developers.   Operations are set to begin next Monday as the South American country moves to increase its oil production over the next decade.   Continue reading…