The nation’s $3.5 billion overhaul of the U.S. Navy’s nuclear submarine communications system means good news for one Oklahoma City company. Defense contractor Long Wave Inc. will triple in size as a result of the massive program, reported the Journal Record. Long Wave’s chief marketing officer, Chris Lozano said the company is attempting to hire …
February 2025 archive
Treasurer’s report shows increased tax revenue from oil and gas
Oklahoma’s gross production tax revenue from oil and gas operations made a more than 6% gain in January from December 2024. The Oklahoma Treasurer’s office released the latest tax revenue figures showing the state had a $4.8 million or 6.1% increase from the last month of 2024 to the first month of 2025. The …
Big earnings and record oil production for Devon Energy
“Exceptionally strong results,” is how Devon Energy’s President and CEO, Rick Muncrief, described the fourth quarter financial earnings for the Oklahoma City-based oil and gas company. Strong indeed. Net earnings for the quarter totaled $639 million or 98 cents a share while for all of 2024, Devon Energy’s net earnings were $2.9 billion or $4.56 …
Legislator faces opposition in anti-green energy and “humanure” bills
The efforts of one Oklahoma legislator to ban the use of Humanure as fertilizer in the state are being blocked in a House Committee. “I received word yesterday that my bill calling for a ban on the application of Humanure as fertilizer in the state of Oklahoma, HB 1726, will not be heard in committee. …
Energy briefs
** During an internal town hall meeting last week, roughly 40,000 Chevron employees were shown a video touting the oil giant’s success in Colorado as the largest oil and gas producer in the state. Less than 30 minutes later, executives announced plans to cut up to 20% of the global workforce, reported Reuters. ** Experts say the …
More Permian Basin earthquakes might lead to restrictions
Oil and gas operators in the Permian basin worry that two recent large earthquakes that hit the region this week might lead to more controls over water disposal practices. The deep water injection, very similar to what led to more restrictions in Oklahoma a few years ago, is under a brighter spotlight in west …
Crude oil prices made gains following oil pipeline attack
Crude oil prices made gains on Tuesday as they were affected by two issues—this week’s drone attacks on a key oil pipeline for Kazakhstan’s oil exports and the talks underway to possibly end the war in Ukraine. The prospects of peace between Russia and Ukraine have some traders optimistic that it could lead to …
Legislator promotes moratorium on green energy projects
Rep. Jim Shaw, R-Chandler, has filed a series of bills that range from placing a moratorium on green energy projects to creating setbacks to recapturing tax subsidies from the industry. Another measure would ban the use of biosolids. “I told my constituents when running for office I would fight against the green energy insanity that …
Cancelled! Petroleum Alliance legislative reception
One of the victims of this week’s severe winter storm is the annual legislative reception planned by the Oklahoma Petroleum Alliance. It was scheduled to be held Wednesday evening at the Petroleum Alliance headquarters in Oklahoma City. But the Alliance announced Tuesday the event was cancelled due to the bad weather conditions.
Winter storm a major test for power grid in Texas
Texas Governor Greg Abbott praised his state’s power grid this week as yet another round of severe winter weather prepared to hit the state. His praise came four years after the deadly 2021 winter storm hit the state, caused massive power outages and left people dead. “The fact of the matter is, the power …
