February 2025 archive

Trump’s removal of Chevron license to ship Venezuelan oil sent crude prices higher

  After hitting a two-month low on Wednesday, crude oil prices reversed course on Thursday after President trump revoked Chevron’s license to operate in Venezuela. Reuters reported the revocation means Chevron won’t be able to export Venezuelan crude oil.  And if Venezuelan oil company PDVSA exports the oil, U.S. refineries will not be able to …

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House votes to reverse Biden’s natural gas water heater restrictions

  The U.S. House voted Thursday in support of a resolution to reverse another Biden administration environmental move—the one to outlaw an entire product class of instantaneous natural gas water heaters. All five Oklahoma Representatives, Stephanie Bice, Josh Brecheen, Tom Cole, Kevin Hern and Frank Lucas, were among the 221 House members who voted for …

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Expand Energy’s merger led to big financial challenges

Following the acquisition and merger with Southwestern Energy of Houston, Oklahoma City’s Expand Energy confirmed some of its operations saw declines in productivity in the past year and it is faced with financial challenges. Cash provided by operating activities was $1.57 billion, $2.38 billion and $4.12 billion during the years ended December 31, 2024, 2023 …

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Manufacturing on the decline according to Federal Reserve Bank

  Manufacturing activity in Oklahoma and other states has seen a slight decline according to a new economic report. Those states that make up the Tenth District of the Federal Reserve Bank of Kansas City experienced the drop according to the February Manufacturing Survey released by the Bank. “Regional factory activity continued to fall in …

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Former Corporation Commissioner honored by national association

  When a national organization of state regulators and corporation commissioners from across the U.S. gathered this week in Washington, D.C. it honored former Oklahoma Corporation Commissioner Bob Anthony. All three Oklahoma corporation commissioners, including Todd Hiett, the man Anthony urged to resign over his public drunkenness and sexual abuse scandal that developed last year, …

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Increasing wildfire danger in Oklahoma

  The most recent Fire Situation Report from the Oklahoma Forestry Division shows a growing dryness in the state will lead to increased fire dangers in the coming few days. Here is the report issued Thursday: Strong drying conditions today will continue to support the expectation of increased wildfire occurrence coupled with prescribed and controlled …

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Ovintiv reports strong 2024 financial results and plans to bring more wells online in Oklahoma

  Even with a fourth quarter net loss of $60 million or 23 cents a share, Denver-based Ovintiv still recorded $1.1 billion or $4.21 per share in full-year net earnings. It also indicated it intends to expand its production efforts in Oklahoma. A firm with a significant exploration effort in Oklahoma, Ovintiv reported it generated …

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Meta’s recent power agreement with Oklahoma wind farm only part of its large data center growth

  Facebook’s parent company Meta isn’t stopping at a recent agreement to get electrical power from an Oklahoma wind farm in its data center growth across the U.S. Meta now intends to build a large data center in Louisiana, powering it with a 10,000-acre solar farm, three natural gas turbines and 100 miles of new …

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PHX set to release 4Q earnings amidst reported search for prospective buyer

    While PHX Minerals Inc. might still be in the hunt for a possible merger or sale, the Fort Worth company plans to release its year end financial results in the coming month. With Oklahoma among its list of core focus efforts, the ccompany will release the results following the close of market on …

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Expand Energy reports strong 4Q with plans to boost gas drilling in 2025

  Even with a net loss of nearly $400 million in the fourth quarter, it was still a strong quarter for Expand Energy Corporation. “The global need for reliable, affordable, lower carbon energy has never been greater. Our strong fourth quarter results and 2025 outlook clearly demonstrate, as the nation’s largest gas producer, we are …

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