A possible peace deal in the Middle East between Israel and the Hezbollah in Lebanon sent crude oil prices dropping more than $2 a barrel on Monday. It came following reports that Israel and Lebanon had agreed to terms of a deal. Reuters reported Israel said on Monday it is moving toward a ceasefire in the war …
November 25, 2024 archive
PSO rate hike slashed to $119.5 million—negative impact on residential customers
A lot has changed since Public Service Company filed a rate hike request late last year of $218 million before the Oklahoma Corporation Commission. The request quickly grew to $231,198,000 and would have raised customers rates by an average $16 more a month. Since then, a negotiated Joint Settlement, lead by the Attorney General …
Colorado to crack down on methane leaks from oil and gas operations
Air quality regulators in Colorado plan to create tougher and more restrictive rules on methane gas from the oil and gas industry. With ozone pollution a large problem in the Denver area, the Colorado Air Quality Control Commission voted last week to create stricter rules on the hazaradous emissions from oil and gas operations. …
Trump to bring back Keystone XL pipeline?
Three and a half years after President Joe Biden killed the Keystone XL oil pipeline with the stroke of a pen, President-elect Donald Trump wants to revive it and intends to do so on day one back in office. While companies gave up their plans on building the pipeline from Canada and into the …
ONEOK to acquire remaining publicly held common units in EnLink Midstream in a $4.3 billion deal
ONEOK, Inc. and EnLink Midstream, LLC announced that they have executed a definitive merger agreement under which ONEOK will acquire all of the outstanding publicly held common units of EnLink for $4.3 billion in ONEOK common stock. Under the agreement, each outstanding common unit of EnLink that ONEOK does not already own will …
ConocoPhillips announces $4 billion cash tender offer
A $4 billion cash tender offer was announced this week by ConocoPhillips as it attempts to sell the debt securities of Marathon Oil Corporation, the firm it just acquired. The offer by ConocoPhillips Company, a wholly-owned subsidiary of COP included “any and all of Marathon Oil Corporation’s debt securities.” Any and All of the …
Little change in shale basin drilling
Of all of the reported drilling activity in the nation’s shale basins, the biggest change in the past week occurred in the Granite Wash of western Oklahoma and the Texas Panhandle. The count, according to Baker Hughes inceased two to 5 active rigs. Otherwise, the nation’s drilling activity in the basins declined by one …
While Oklahoma’s rig count grew in the past week, the US count slipped
Oklahoma saw a gain of one rig in the past week to bring its total to 44, according to the latest Baker Hughes rig report. The state’s total compared to 38 one year ago. Nationally, there was a decline of one rig to 583. In the past week,the count of oil rigs increased one …
Energy briefs
** Oil company executives who backed Trump’s campaign say they do not actually want to “drill, baby, drill,” but to pursue policies to speed up pipelines and export projects to create more global demand for their products. ** Hyundai Motor North America announced it will recall more than 42,000 vehicles due to a wiring issue that can …
