The Oklahoma Broadband Office is launching a newsletter to help you stay informed on the latest efforts to expand high-speed internet throughout the state. In this premier edition, read about efforts to bring attention to projects being launched, commentary by Executive Director Mike Sanders about the impact on rural Oklahoma, and the latest statistics on progress …
May 2025 archive
Permian basin oil operator acquires more acreage in $608 million deal
The Oklahoma oil and gas operators in the Permian Basin face a growing competitor—Permian Resources revealed this week it made a $608 million acquisition of 13,320 net acres and 8,700 net royalty acres in New Mexico. Apache parent APA Corp. sold the acreage which is located near the core operating areas of Permian Resources, …
Resurrected wind tower setback bill approved in Oklahoma House
As some Oklahoma legislative observers remind us, “nothing is dead in the legislature until sine die is declared” and such is the case for the wind farm setback bill, SB2. After the House of Representatives defeated the measure Tuesday evening on a 44-49 vote, it was resurrected Wednesday on a move by Rep. Trey …
Improved 1Q net earnings for Unit Corporation
Unit Corporation reported it had improved first quarter income of $17.9 million or $1.80 per share. It was improved over the $16.1 million or $1.61 per share reported a year ago. Total revenues for the Tulsa-based company were $63.5 million during the quarter, down slightly from the $67.2 million reported for the three …
Ascent Resources out with 1Q earnings report
Oklahoma-based Ascent Resources Utica Holdings, LLC announced its first quarter earnings which included $210 million in adjusted net income and adjusted EBITDAX of $430 million. Considered one of the largest private producers of natural gas in the United States with operations focused in southern Ohio, the Oklahoma City company also reported a net …
ConocoPhillips CFO to retire
ConocoPhillips announced that W.L. (Bill) Bullock, executive vice president and chief financial officer, will retire from ConocoPhillips after 39 years of distinguished service. Andy O’Brien, currently senior vice president, Strategy, Commercial, Sustainability and Technology, will succeed Bill as chief financial officer, effective June 1, 2025. Andy will also retain responsibility for Strategy, Commercial …
Contractors hired to build 800-mile long Grain Belt Express
Construction contracts totaling $1.7 billion were awarded this week to contractors to build the 800-mile electric transmission line called the Grain Belt Express, a project to carry southwest Kansas wind-generated electricity across Missouri, Illinois and to Indiana. Invenergy, the developer of the massive project awarded the contracts to Quanta Services of Houston and …
Energy briefs
** The CEO of Diamondback Energy, Travis D. Stice, warned that tumbling oil prices will depress US crude output, predicting that American onshore production has peaked. Prices hit a four-year low on Monday, with WTI crude trading below $60 a barrel since the start of May. ** The Trump administration has denied federal assistance for …
Oil producer chief warns investors industry is at “tipping point” over falling prices
Diamondback Energy CEO Travis D. Stice is out with an ominous warning about oil prices and production, claiming the U.S. oil industry is at a “tipping point.” And it is sure to get the attention of other producers. In a letter to shareholders, the head of the Texas company said the historic oil …
SPP okays $72 million contract for transmission line in Oklahoma
Southwest Power Pool’s board of directors approved an industry expert panel (IEP) recommendation for Transource Oklahoma, LLC with Transource Energy, LLC to build the Mathewson-to-Redbud transmission project. The proposed 38.4 mile 345-kilovolt line from the Mathewson substation to the Redbud substation in Oklahoma will cost an estimated $72 million to construct and is …