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 …
November 2024 archive
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 …
Mitchell Talks Energy with Jerry Bohnen about Judge’s Corporation Commission ruling—yes, it involved Todd Hiett
A judge’s decision to delay an ONG hearing because of a legislator’s complaint about Corporation Commissioner—the topic of discussion of our latest edition of “Scott Mitchell talks energy with Jerry Bohnen. They focus on the decision based on a complaint of Rep. Tom Gann that angered the Attorney General’s office. Click above to view …
Attorney General’s office miffed at legislator’s accusations
When an Oklahoma Corporation Commission judge recently delayed a hearing on ONG’s nearly half-a-billion dollars in 2023 fuel costs because of a complaint filed by State Rep. Tom Gann, it came after the Attorney General’s office displayed its obvious resentment of his complaint. In addressing Admininstrative Law Judge Carly Ortel, Deputy Attorney General …
EVs are catching on in Oklahoma
Oklahoma’s increased electric vehicles use is among the highest in the nation as the state has more than 22,800 EVs registered as of 2023. The U.S. Department of Energy reported recently it was a gain from 16,300 registered EVs in 2022. Click here for The Oklahoman
Expand Energy’s $750 million notes offering
Expand Energy Corporation announced its public offering of senior notes will total $750,000,000. The Oklahoma City company, formerly Chesapeake Energy before it merged with Southwest Energy, explained the offer includes 5.700% senior notes due 2035 at a price to the public of 99.609% of their face value. The notes offering is expected to close …