** Diamondback Energy Inc. is in talks to form a power joint venture that would solve some of the shale giant’s own needs in the Permian Basin while also selling electricity to artificial intelligence data centers in West Texas. ** Holtec International, the Florida-based company seeking to bring back online the decommissioned Palisades nuclear power plant …
February 2025 archive
Increased gasoline supplies sent crude oil prices falling on Wednesday
Crude oil prices took another hit in Wednesday’s trading and as a result they reached two-month lows following reports of increased fuel supplies in the U.S. even as crude oil stocks declined. Gasoline and distillate inventories made a surprising gaine in the past week. Prices were also affected by a potential peace agreement …
Crude supplies dipped across the U.S. but grew at the Cushing Hub
The nation’s crude oil stocks dipped more than 2 million barrels ast of the week of Feb. 21 according to the federal government. But a gain was recorded at Oklahoma’s Cushing Hub. The U.S. Energy Information Administration reported stocks totaled 430.2 million barrels in the most recent reporting week, down from 432.5 million as …
Rep. Bice introduces bill to reverse Biden administration’s slow walking of oil and gas permitting
No more “slow walking” of oil and gas permits as the nation saw under the Biden administration. Congresswoman Stephanie Bice (R-OK) introduced the Bureau of Land Management (BLM) Mineral Spacing Act this week. The bill would streamline and improve the permitting process for energy development, remove duplicative regulations, and better respect the rights of …
Corporation Commission’s own records will be used against it in legislator’s challenge of PSO rate hike
The Oklahoma Supreme Court is allowing the minutes of a dozen meetings of Oklahoma Corporation Commissioners to be used by Rep. Tom Gann in his lawsuit against the agency. Chief Justice M. John Kane IV signed the order last week after Gann requested the use of a number of documents in the suit he …
Arkansas legislators consider bill stripping some power from utility regulators
State regulators in Arkansas might lose some of their regulatory power if a bill filed this week in the state legislature becomes law. Under the Generating Arkansas Jobs Act of 2025, utilities will get more freedom in setting the rates paid by customers. It would remove some power from the Public Service Commission, which …
Rep. Lucas’ dream of sending man to Mars remains alive in the House
The push by Oklahoma Congressman Frank Lucas to send man back to the moon and onto mars when he chaired the U.S.House Science, Space and Technology Committee received a boost Wednesday during a congressional committee hearing. The hearing, Step by Step: The Artemis Program and NASA’s Path to Human Exploration of the Moon, Mars, and …
Energy Secretary says government needs to get out of the way of energy growth
Energy Secretary Chris Wright gave a clue this week what he feels about government regulations of commercial nuclear and geothermal production. Get out of the way of private industry! It’s what he told reporters this week during a visit to Albuquerque, New Mexico. “They’re such high bars that we’ve just seen almost nothing happen …
New Mexico legislators fight off bills targeting oil and gas industry
As Oklahoma legislators grapple with bills about competitive bidding on public utility projects, calls for wind farm moratoriums and eminent domain, New Mexico legislators consider more bills to tighten restrictions on oil and gas and transmission lines. Remember, New Mexico is the nation’s number two oil producing state. A bill to create state regulations …
Gulfport releases 4Q earnings report
Despite a loss of $273 million in the fourth quarter and a full-year loss of $261 million, Gulfport Energy Corporation reported increased production and intends to expand production efforts this year. Gulfport reported financial and operating results for the three and twelve months ended December 31, 2024 and provided its 2025 outlook. The fourth quarter …