Another sign of falling crude oil and gas production in Oklahoma was reflected in the latest Economic Report from Oklahoma State Treasurer Todd Russ. His report indicated gross production tax revenues dropped 9% from October to November. The 9% decrease totaled $6.6 million and the total GPT revenues was $66.7 million. Revenue from the gross …
December 2024 archive
Former PSO engineer named new head of Southwest Power Pool
The Southwest Power Pool board of directors announced that Lanny Nickell has been selected to serve as the organization’s new president and CEO effective April 1, 2025. Nickell is currently SPP’s executive vice president and chief operating officer. “With more than two decades of exceptional service and having helped lead the evolution of SPP’s strategy, Lanny …
Cities of Altus and Hugo discuss water pipeline project
By Mindy Ragan Wood Southwest Ledger A decades old idea to build water pipelines from southeastern Oklahoma to the southwestern part of the state is back up for discussion. City officials in Altus and Hugo are set to begin formal talks of a proposed water pipeline that could eventually extend between the two towns, …
Ascent uses ‘reverse Dutch auction’ to buy back $25 million in shares
Oklahoma City-based Ascent Resources LLC is offering to buy for cash up to $25 million of some of its shares. The offer, known as an “unmodified reverse Dutch auction” was extended for the firm’s Series A units and Series B units at a price per common unit of not greater than $23.75. The …
Sen Lankford says scrapping of transmission line is ‘welcome news’
Oklahoma U.S. Sen. James Lankford is among those who say the cancellation of the Delta-Plains Electric Transmission Corridor across northern Oklahoma is a huge win for landowners. “My team and I have been in contact with the Department of Energy and received the welcome news that the threat of federal eminent domain to Oklahoma …
Latest broadband expansion includes $66 million in southern Oklahoma
The latest broadband launch held in Bray on Tuesday featuring Gov. Kevin Stitt and others included nearly $66 million in projects to offer expanded broadband service to more than 2,000 customers. “Expanding high-speed, reliable internet access is a game changer for Oklahoma families, businesses, and communities,” said Governor Stitt. “This investment ensures even our most …
Coterra closes on $1.5 billion notes offering
Coterra Energy Inc says it has closed its previously announced registered public offering of $1.5 billion in senior notes. The official closing of the offering was on Dec. 17. The offering included $750 million in 5.40% senior notes due 2035 and another $750,000 in 5.90% senior notes due 2055. The 2035 notes will mature …
Energy briefs
** The Biden administration released a long-awaited report Tuesday that could make it harder for the incoming administration to expand U.S. natural gas exports — the latest attempt by President Joe Biden’s agencies to Trump-proof his legacy. ** The United States should proceed cautiously as officials consider new natural gas export terminals, Energy Secretary Jennifer Granholm said …
Biden’s LNG report at odds with Trump’s energy plans
We have yet to hear from Oklahoma’s congressional delegation about the Biden-administration’s Department of Energy report on LNG exports, but a few others are speaking out and blasting what the report recommended. “The only ‘science’ driving the Biden-Harris LNG pause and study is political science,” said Sen. Bill Cassidy of Louisiana. “It’s no secret …
Corporation Commissioner tells Governor winter storm bond audits are “fakes”
With less than a month to serve in office because he is term-limited, Oklahoma Corporation Commissioner Bob Anthony is again reminding Gov. Kevin Stitt and elected legislative leaders that a one-page audit of one utility’s securitization bonds is not valid—it’s not legitimate. Anthony has argued for the past few years that the Corporation Commission’s …