One of the Permian Basin’s biggest oil companies, Diamondback Energy, is weighing the prospects of using some of its produced natural gas to generate electricity for its drilling and fracking operations. It’s what Diamondback Chief Executive Officer Travis Stice said at this week’s Pickering Energy Partners investor conference in Austin, Texas. “What we’re trying …
September 2024 archive
Energy briefs
** Crude oil remains markedly lower year-to-date, reflecting China’s dour demand outlook and plans by OPEC+ to eventually restore some shuttered output. The headwinds have been partially countered by supply disruptions in Libya and the US and prospects for monetary easing, with investors expecting the Federal Reserve to start lowering interest rates. ** -Permian Resources …
West Texas hit with 5.1 magnitude earthquake
Right in the heart of the Permian Basin, a major earthquake was recorded this week. The U.S. Geological Survey stated it measured 5.1 magnitude and was centered near Midland, Texas. The quake was recorded Monday night at 7:49 and was close to the community of Ackerly or about 27 miles north of Midland. …
Energy Department to create solar farm next to nuclear waste site in New Mexico
NextEra Energy, the firm known for wind farms, such as those it built in Oklahoma, is venturing into development of a renewable energy project right next to the government’s nuclear waste storage site in southern New Mexico. The U.S. Energy Department announced it teamed with NextEra Energy Resources to develop nearly 3 square miles …
Kimray partners with Canadian firm Kathairos in emissions reduction effort
Days after Oklahoma City’s Kimray Company announced a 15% workforce cut that affected 150 employees, the energy control solutions firm announced a partnership with a Canadian firm to provide zero-emissions solutions to upstream oil and gas facilities. Kimray said it had joined Kathairos, a nearly 4-year old firm based in Calgary, Canada and considered …
Supreme Court wants Commissioner Hiett’s response to writ of prohibition
The Oklahoma Supreme Court told Oklahoma Corporation Commissioner Todd Hiett to respond by September 27 to a lawsuit filed against him by three Republican legislators who want him disqualified from voting on cases involving OGE, ONG and PSO. Chief Justice M. John Kane IV signed an order Tuesday, directing Hiett to respond to …
Study confirms what locals know: Kiamichi can dry up in summer
We continue our series of stories by Southwest Ledger reporter Mike Ray into the controversial proposed hydroelectric project on the Kiamichi River in southeast Oklahoma. By Mike W. Ray Southwest Ledger The 38.5 billion gallons of initial “fill” water for the three reservoirs that would be constructed for Southeast Oklahoma Power Corporation’s …
Crude oil prices made more gains on Tuesday
Tuesday brought another gain of increased crude oil prices as they gained from 1% to 2% because of increased supply disruptions. Reuters indicated that traders also bet demand might increase if the Fed lowers borrowing costs this week. The news group reported more than 12% of crude output from the U.S. Gulf of Mexico was offline …
Ponca City state Representative chosen to head legislative energy council
Rep. Ken Luttrell, R-Ponca City, was recently elected to serve as the chairman of the Center for Legislative Energy and Environmental Research (CLEER). The election came at the Energy Council’s annual Global Energy and Environmental Issues Conference held in Tulsa, Oklahoma. “It’s an exciting time to be part of the Center for Legislative Energy and …
What PSO’s $730 million gas plant purchase means to customers
Documents filed this week with the Oklahoma Corporation Commission show the Jenks gas plant purchased by Public Service Company of Oklahoma was sold in a $730 million deal that will result in higher bills for customers. It will also mean another PSO rate hike request is coming in 2025. First, the acquisition will …
