Another natural gas pipeline, the biggest in the Permian Basin, is set to be launched to begin carrying natural gas to south Texas. The Matterhorn Pipeline will move 2.5 billion cubic feet of natural gas a day and according to reports last week, was already transporting small amounts of gas to the Gulf Coast. The …
September 2024 archive
Oklahoma Treasurer says state’s revenues show “economic resilience”
Oklahoma Treasurer Todd Russ reports state tax revenues grew steadily over the past 12 months, reflecting a 0.12% increase. It also included a 2% gain for gross production tax revenue from oil and gas. Based on the latest Gross Receipts Report, he said the slight growth comes after a 0.30% rise in July and “highlights …
Rig counts in Oklahoma and US slipped in past week
The number of oil and gas rigs in Oklahoma declined by one in the past week, according to the latest Baker Hughes rig count released on Friday. Oklahoma’s count went from 39 a week ago to 38 in the past week. A year ago, the state’s number of oil and gas rigs actively drilling …
Energy briefs
**The union representing Environmental Protection Agency (EPA) staff called on the agency to allow temporary remote work after Legionella bacteria was found at multiple EPA facilities around the country. ** The University of California at Davis and Innovative Genomics Institute are working to engineer the stomachs of cattle so they don’t produce the potent planet-warming …
Crude oil prices finished Friday with a loss for the day and for the week
Investors will be hoping for improvements in crude oil prices and energy stocks as the new trading week begins. Oil prices closed down 2% on Friday and experienced a big weekly loss. Oklahoma energy stocks also recorded losses on Friday. Weaker than expected U.S. jobs data in August played a role in the drops. West …
OSU teams with Vicinity Energy for low-emission steam in new medical center
Vicinity Energy, a leader in decarbonization with the nation’s largest portfolio of district energy systems, has partnered with Oklahoma State University to provide chilled water and steam service to a new medical campus. This project will combine multiple existing buildings into a state-of-the-art hospital. Vicinity will serve the entire 58-bed medical-surgical inpatient hospital …
Mach announces price on share offering to raise funds for more acquisitions
Mach Natural Resources LP put a price tag on its public offering of more than 7 million shares, a move designed to raise funds for the company’s recent acquisition of assets in the Anadarko Basin and plans to make more such acquisitions. The firm announced the pricing of its public offering of 7,272,728 common …
Two legislators accuse Corporation Commissioner Hiett of impartiality over his drinking/sex scandal
Two legislators, Reps. Kevin West of Moore and Tom Gann of Inola went public with their disgust over the growing sexual and drinking scandal involving Corporation Commissioner Todd Hiett. The two Republicans indicated in a statement they are considering filing a writ of prohibition against Hiett, who was Chairman of the Commission at the time …
Crude oil prices at 14 month low and OK energy stocks weak in Thursday’s trading
Thursday brought still more depressing crude oil price news as they remained at a 14-month low and Oklahoma energy stocks had more losses. An anticipated return of Libyan crude oil production and shipping means an increase in world supplies and that added to a lack of enthusiasm for crude oil prices. Plus, there was a …
U.S. Steel deal could impact Arkansas region
At first glance, the growing controversy over Nippon Steel’s proposed $14.9 billion takeover of U.S. Steel would appear to be more of an east coast issue, something that wouldn’t have a major impact on the regional economies of Oklahoma and Arkansas. However, that’s not the case. The issue plays into U.S. Steel’s move in …