Crude oil prices recorded another day of gains on Tuesday while Oklahoma energy stocks ended mixed. Oil prices finished up after the U.S. Energy Information Administration raised its global oil demand growth forecast for the year. At the same time, OPEC stayed with its forecast for relativelly strong growth in 2024. The EIA raised its …
Chesapeake Energy reported it has managed an 80% reduction in its methane emissions from company operations since 2020. The revelation was included in Chesapeake’s 2023 Sustainability Report released on Tuesday. It was the firm’s 12th year reporting on its environmental, social and governance (ESG) performance. Chesapeake said the reporting reflects its commitment to transparency, …
The Permian Basin won’t see any reduction in crude oil production this year. In fact, the U.S.. Energy Information Administration forecasts an 8% increase compared to 2023. It expects crude oil production to average about 6.3 million barrels a day this year. The Permian Basin, where numerous Oklahoma oil and gas firms have operations, accounts …
Another lithium well has been drilled in the Smackover formation of southern Arkansas, a well that could be used for development of the mineral sorely needed for production of electric vehicle batteries. Houston-based TerraVolta Resources LLC announced it had drilled a “successful” lithium appraisal and supply well. IT also said global investor EMG had …
The State Attorney General is appealing a district court judge’s ruling to suspend enforcement of Oklahoma’s Energy Discrimination Elimination Act, the one that banned state agencies from doing business with financial firms that discriminate against the oil and gas industry. Filings show Attorney General Gentner Drummond’s office took the ruling by Oklahoma County District …
A mystery in the Permian Basin. What is causing a growing number of abandoned oil and gas wells to erupt with saltwater. The Texas Railroad Commission has yet to find a cause of the eruptions of that increased in the past few years. It is still investigating. In one case, an eruption of …
Iowa may be one of the top three wind-power states in the country, but some of its counties want tighter restrictions on wind farm growth. Iowa’s second-most populated county took action this week to move ahead with an ordinance adding tighter regulations to utility-scale wind solar projects. One restriction would cover sound levels reported …
The environmental group, the Center for Biological Diversity, went to court this week against the federal government, accusing the U.S. Bureau of Land Management of failing to protect shortgrass prairie in Colorado’s Pawnee National Grassland. The Grassland is in the northeast part of Colorado and located 35 miles east of Fort Colllins. It is …
Gross production tax revenues on oil and gas for May in Oklahoma increased, according to a report from State Treasurer Todd Russ. “With the last month’s reporting increases, we see leveling across all tax divisions,” stated the treasurer in his report. May Gross Receipts reports an increase with totals equaling $1.3B, up $20.2M, or 1.6% when …
Devon Energy recently lost an 8-year legal fight with the Interior Department over increased royalty payments the Oklahoma City oil and gas company was to pay for gas production from federal lands in New Mexico. Devon challenged the 2016 order from the Interior Department’s Office of Natural Resources Revenue to pay $2,841,264.58 after the ONRR …
