** The American Gas Association ), in collaboration with other trade associations and a manufacturer, presented oral arguments before the Court of Appeals for the District of Columbia Circuit in AGA v. DOE, a legal challenge to the U.S. Department of Energy’s (DOE) final Consumer Furnace Rule establishing new standards for residential furnaces and two …
November 2024 archive
Crude oil prices rose on Friday over growing threat of expanded war in Ukraine and Russia
(Tyler Hicks/The New York Times) The growing war between Russia and Ukraine, on top of the fighting in the Middle East, added to increased worries and sent crude oil prices up nearly 1% on Friday. It resulted in prices settling at a two week high. Both WTI and Brent finished up about 6% for the …
Summit Utility wins rate hike approval in Arkansas
The Arkansas Public Service Commission voted this week to support a nearly $88 million rate hike for Summit Utilities. But regulators decided the hike won’t be allowed to take effect until after winter. Arkansas Business reported the $87.7 million annual rate hike mean a 23.4% increase but half of it will be delayed …
Empire Petroleum gains increased loan power based on strategic growth
Empire Petroleum announced Friday it had increased its loan ability from $10 million up to $20 million as part of its Revolver Loan Agreement with Equity Bank. The Tulsa company said the increase is effective through Dec. 29, 2026. Empire, according to the announcement, has approximately $8.4 million borrowed on the $20.0 million facility. The …
ConocoPhillips completes acquisition of Marathon Oil
(REUTERS/Chris Helgren) The $22.5 billion acquisition of Marathon Oil Corporation by ConocoPhillips has been put to bed. It’s a done deal. ConocoPhllips announced Friday it had completed the acquisition. “This acquisition of Marathon Oil is a perfect fit for ConocoPhillips, adding to our deep, durable and diverse portfolio while meeting our strict financial framework,” said …
Burgum likely to increase oil and gas drilling on federal lands as Interior Secretary
If North Dakota Gov. Doug Burgum is confirmed as the next Interior Secretary, he is likely to allow increased oil and gas drilling on federal lands, something the Biden administration wouldn’t allow over the past three and one-half years. However, the industry feels like Burgum will be successful in his endeavor to support …
Crude oil prices rose on increased fighting between Russia and Ukraine
Crude oil prices gained nearly 2% on Thursday as the war between Russia and Ukraine notched up world concerns that the fighting might escalate to a nuclear level. The price climb came after Russian President Vladimir Putin said Thursday Russia had launched a hypersonic medium-range ballistic missile attack on Ukraine and warned the …
Legislator wins delay in ONG case resulting in setback for Attorney General
An administrative law judge with the Oklahoma Corporation Commission delivered a victory Thursday to State Rep. Tom Gann, one of three legislators who sued to prohibit Commissioner Todd Hiett from participating in a rate case for Oklahoma Natural Gas. In winning the case to be heard as a customer of ONG, Gann also delivered …
Study confirms Corporation Commission’s earthquake program is working
A new study concludes that steps taken by the Oklahoma Corporation Commission’s Induced Seismicity Department to limit where and how much oil and gas wastewater is injected underground are reducing the number of strong earthquakes residents experience. A report published by the Seismic Record of a study conducted by Robert Skoumal of …
Drought in Oklahoma reduced by recent rains
Oklahoma Climatologist Gary McManus reports recent heavy rains reduced the grasp of the drought in the state from 84% to 18%. Writing in his Thursday morning Mesonet update, McManus explained, “Even better, the amount of Severe (D2) and Extreme (D3) drought dropped from 68% of the state to just 2% during that same time frame. …